Portland Global Advisors LLC Cuts Stock Holdings in Becton, Dickinson and Company $BDX

Portland Global Advisors LLC lessened its stake in Becton, Dickinson and Company (NYSE:BDX) by 56.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,659 shares of the medical instruments supplier’s stock after selling 3,502 shares during the quarter. Portland Global Advisors LLC’s holdings in Becton, Dickinson and Company were worth $458,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in BDX. Vanguard Group Inc. grew its position in Becton, Dickinson and Company by 15.4% during the second quarter. Vanguard Group Inc. now owns 32,308,749 shares of the medical instruments supplier’s stock valued at $5,565,182,000 after acquiring an additional 4,305,947 shares during the period. Norges Bank purchased a new stake in shares of Becton, Dickinson and Company during the 2nd quarter worth about $653,377,000. First Eagle Investment Management LLC grew its holdings in shares of Becton, Dickinson and Company by 59.2% during the 2nd quarter. First Eagle Investment Management LLC now owns 8,786,190 shares of the medical instruments supplier’s stock worth $1,513,421,000 after purchasing an additional 3,268,478 shares during the period. GQG Partners LLC acquired a new stake in Becton, Dickinson and Company during the 1st quarter worth approximately $689,833,000. Finally, Massachusetts Financial Services Co. MA raised its holdings in Becton, Dickinson and Company by 24.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 8,514,446 shares of the medical instruments supplier’s stock valued at $1,466,613,000 after buying an additional 1,670,590 shares during the period. 86.97% of the stock is currently owned by institutional investors and hedge funds.

Becton, Dickinson and Company Price Performance

Shares of NYSE BDX opened at $193.68 on Friday. The company has a quick ratio of 0.64, a current ratio of 1.11 and a debt-to-equity ratio of 0.69. Becton, Dickinson and Company has a fifty-two week low of $162.29 and a fifty-two week high of $251.99. The business has a 50 day moving average price of $188.09 and a two-hundred day moving average price of $183.61. The firm has a market cap of $55.28 billion, a PE ratio of 33.22, a price-to-earnings-growth ratio of 1.79 and a beta of 0.25.

Becton, Dickinson and Company (NYSE:BDX) last announced its earnings results on Thursday, April 14th. The medical instruments supplier reported $4.10 earnings per share (EPS) for the quarter. Becton, Dickinson and Company had a return on equity of 16.42% and a net margin of 7.68%.The company had revenue of $5.32 billion for the quarter. Sell-side analysts expect that Becton, Dickinson and Company will post 14.43 earnings per share for the current fiscal year.

Becton, Dickinson and Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 8th will be issued a dividend of $1.05 per share. The ex-dividend date of this dividend is Monday, December 8th. This represents a $4.20 annualized dividend and a yield of 2.2%. This is an increase from Becton, Dickinson and Company’s previous quarterly dividend of $1.04. Becton, Dickinson and Company’s dividend payout ratio (DPR) is 71.36%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Wells Fargo & Company boosted their price objective on shares of Becton, Dickinson and Company from $172.00 to $184.00 and gave the stock an “equal weight” rating in a research note on Friday, August 8th. Piper Sandler decreased their price target on shares of Becton, Dickinson and Company from $200.00 to $190.00 and set a “neutral” rating for the company in a research report on Friday, November 7th. Morgan Stanley raised their price objective on Becton, Dickinson and Company from $197.00 to $210.00 and gave the company an “overweight” rating in a research report on Tuesday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Becton, Dickinson and Company in a research report on Wednesday, October 8th. Finally, Argus increased their target price on Becton, Dickinson and Company from $220.00 to $230.00 in a research note on Monday, September 15th. Three research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $204.45.

Insider Activity

In other news, Director Bertram L. Scott sold 217 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $176.58, for a total value of $38,317.86. Following the completion of the sale, the director owned 35,816 shares of the company’s stock, valued at approximately $6,324,389.28. The trade was a 0.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Claire Fraser sold 917 shares of Becton, Dickinson and Company stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $187.50, for a total value of $171,937.50. Following the completion of the transaction, the director owned 22,226 shares of the company’s stock, valued at $4,167,375. This trade represents a 3.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,324 shares of company stock valued at $245,860 in the last three months. Insiders own 0.36% of the company’s stock.

Becton, Dickinson and Company Profile

Becton, Dickinson and Company develops, manufactures, and sells medical supplies, devices, laboratory equipment, and diagnostic products for healthcare institutions, physicians, life science researchers, clinical laboratories, pharmaceutical industry, and the general public worldwide. The company operates in three segments: BD Medical, BD Life Sciences, and BD Interventional.