Eastern Bank Reduces Holdings in Becton, Dickinson and Company (NYSE:BDX)

Eastern Bank decreased its holdings in Becton, Dickinson and Company (NYSE:BDX - Free Report) by 14.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,811 shares of the medical instruments supplier's stock after selling 2,566 shares during the period. Eastern Bank's holdings in Becton, Dickinson and Company were worth $3,587,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of BDX. State Street Corp increased its holdings in Becton, Dickinson and Company by 0.8% in the 3rd quarter. State Street Corp now owns 13,953,116 shares of the medical instruments supplier's stock worth $3,364,096,000 after buying an additional 106,616 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Becton, Dickinson and Company by 1.8% in the third quarter. Geode Capital Management LLC now owns 6,285,513 shares of the medical instruments supplier's stock worth $1,510,050,000 after acquiring an additional 111,101 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Becton, Dickinson and Company by 9.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,365,554 shares of the medical instruments supplier's stock valued at $1,293,635,000 after purchasing an additional 460,440 shares during the last quarter. Ameriprise Financial Inc. lifted its position in Becton, Dickinson and Company by 6.4% during the second quarter. Ameriprise Financial Inc. now owns 5,055,354 shares of the medical instruments supplier's stock valued at $1,181,483,000 after purchasing an additional 302,893 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Becton, Dickinson and Company by 79.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,986,543 shares of the medical instruments supplier's stock worth $720,089,000 after purchasing an additional 1,317,723 shares during the last quarter. Hedge funds and other institutional investors own 86.97% of the company's stock.

Becton, Dickinson and Company Stock Performance

Shares of BDX stock traded up $2.62 during trading hours on Monday, reaching $236.29. 2,267,776 shares of the company traded hands, compared to its average volume of 1,952,739. The firm has a 50-day moving average price of $226.95 and a 200 day moving average price of $232.49. The company has a market cap of $68.53 billion, a P/E ratio of 39.78, a P/E/G ratio of 1.64 and a beta of 0.39. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.17 and a quick ratio of 0.74. Becton, Dickinson and Company has a 12-month low of $218.75 and a 12-month high of $248.42.

Becton, Dickinson and Company (NYSE:BDX - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The medical instruments supplier reported $3.81 earnings per share for the quarter, beating the consensus estimate of $3.77 by $0.04. The business had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.38 billion. Becton, Dickinson and Company had a net margin of 8.55% and a return on equity of 14.89%. The company's revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.42 earnings per share. As a group, sell-side analysts predict that Becton, Dickinson and Company will post 14.43 earnings per share for the current fiscal year.

Becton, Dickinson and Company Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 9th were paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date was Monday, December 9th. This is a positive change from Becton, Dickinson and Company's previous quarterly dividend of $0.95. Becton, Dickinson and Company's dividend payout ratio is presently 70.03%.

Insider Buying and Selling at Becton, Dickinson and Company

In other Becton, Dickinson and Company news, EVP Michael David Garrison sold 2,838 shares of the firm's stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $223.33, for a total transaction of $633,810.54. Following the completion of the transaction, the executive vice president now owns 6,141 shares in the company, valued at $1,371,469.53. This trade represents a 31.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Shana Carol Neal sold 788 shares of the company's stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $235.00, for a total value of $185,180.00. Following the sale, the executive vice president now directly owns 16,201 shares in the company, valued at $3,807,235. This trade represents a 4.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,747 shares of company stock valued at $1,949,520 over the last ninety days. 0.36% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Citigroup upgraded shares of Becton, Dickinson and Company from a "neutral" rating to a "buy" rating and boosted their target price for the company from $255.00 to $275.00 in a research note on Tuesday, October 1st. Evercore ISI raised their target price on Becton, Dickinson and Company from $286.00 to $290.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 1st. Finally, StockNews.com lowered shares of Becton, Dickinson and Company from a "buy" rating to a "hold" rating in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $283.50.

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.