Bank of Nova Scotia Trims Stock Holdings in Becton, Dickinson and Company (NYSE:BDX)

Bank of Nova Scotia decreased its stake in shares of Becton, Dickinson and Company (NYSE:BDX - Free Report) by 21.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 184,741 shares of the medical instruments supplier's stock after selling 51,872 shares during the quarter. Bank of Nova Scotia owned about 0.06% of Becton, Dickinson and Company worth $41,914,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Bank of Jackson Hole Trust purchased a new position in Becton, Dickinson and Company in the 4th quarter worth approximately $25,000. Sierra Ocean LLC bought a new position in shares of Becton, Dickinson and Company during the fourth quarter valued at $29,000. Picton Mahoney Asset Management raised its position in Becton, Dickinson and Company by 61.4% in the 4th quarter. Picton Mahoney Asset Management now owns 142 shares of the medical instruments supplier's stock worth $32,000 after buying an additional 54 shares during the last quarter. Hopwood Financial Services Inc. bought a new position in Becton, Dickinson and Company during the 4th quarter valued at about $39,000. Finally, Versant Capital Management Inc boosted its holdings in shares of Becton, Dickinson and Company by 54.1% during the 4th quarter. Versant Capital Management Inc now owns 208 shares of the medical instruments supplier's stock valued at $47,000 after acquiring an additional 73 shares during the last quarter. 86.97% of the stock is owned by institutional investors.

Becton, Dickinson and Company Stock Performance

NYSE BDX traded up $2.86 on Monday, hitting $204.64. 371,959 shares of the company traded hands, compared to its average volume of 1,683,146. The business's 50 day moving average price is $223.97 and its 200-day moving average price is $229.81. Becton, Dickinson and Company has a 52-week low of $193.03 and a 52-week high of $251.99. The company has a current ratio of 1.13, a quick ratio of 0.63 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $58.76 billion, a price-to-earnings ratio of 33.99, a P/E/G ratio of 1.63 and a beta of 0.35.

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Becton, Dickinson and Company (NYSE:BDX - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The medical instruments supplier reported $3.43 earnings per share for the quarter, beating analysts' consensus estimates of $3.00 by $0.43. Becton, Dickinson and Company had a return on equity of 15.74% and a net margin of 8.47%. Equities analysts expect that Becton, Dickinson and Company will post 14.43 earnings per share for the current year.

Becton, Dickinson and Company declared that its board has approved a stock repurchase program on Tuesday, January 28th that permits the company to buyback 10,000,000 shares. This buyback authorization permits the medical instruments supplier to repurchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Becton, Dickinson and Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 2.03%. The ex-dividend date was Monday, March 10th. Becton, Dickinson and Company's dividend payout ratio is currently 69.10%.

Insider Activity at Becton, Dickinson and Company

In related news, EVP Michael David Garrison sold 597 shares of the stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $236.51, for a total transaction of $141,196.47. Following the completion of the transaction, the executive vice president now directly owns 5,544 shares of the company's stock, valued at approximately $1,311,211.44. This represents a 9.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David Shan sold 500 shares of the business's stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $240.00, for a total transaction of $120,000.00. Following the completion of the sale, the executive vice president now owns 5,741 shares in the company, valued at $1,377,840. This represents a 8.01 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,675 shares of company stock valued at $1,057,182. 0.36% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BDX. Piper Sandler increased their price objective on shares of Becton, Dickinson and Company from $275.00 to $280.00 and gave the company an "overweight" rating in a research report on Tuesday, January 28th. StockNews.com upgraded Becton, Dickinson and Company from a "hold" rating to a "buy" rating in a research note on Wednesday, April 2nd. Finally, Barclays reduced their price objective on Becton, Dickinson and Company from $279.00 to $261.00 and set an "overweight" rating for the company in a research report on Monday, April 7th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $275.71.

About Becton, Dickinson and Company

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.