New York State Teachers Retirement System Sells 10,176 Shares of Becton, Dickinson and Company (NYSE:BDX)

New York State Teachers Retirement System lowered its position in Becton, Dickinson and Company (NYSE:BDX - Free Report) by 4.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 224,712 shares of the medical instruments supplier's stock after selling 10,176 shares during the quarter. New York State Teachers Retirement System owned approximately 0.08% of Becton, Dickinson and Company worth $50,980,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its stake in shares of Becton, Dickinson and Company by 79.0% during 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 acquiring an additional 1,317,723 shares during the last quarter. Nordea Investment Management AB boosted its holdings in Becton, Dickinson and Company by 31.0% in the fourth quarter. Nordea Investment Management AB now owns 2,844,566 shares of the medical instruments supplier's stock valued at $647,082,000 after purchasing an additional 673,568 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Becton, Dickinson and Company by 9.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,365,554 shares of the medical instruments supplier's stock worth $1,293,635,000 after purchasing an additional 460,440 shares in the last quarter. Vaughan Nelson Investment Management L.P. purchased a new stake in Becton, Dickinson and Company during the third quarter worth $108,243,000. Finally, The Manufacturers Life Insurance Company boosted its position in Becton, Dickinson and Company by 62.2% during the third quarter. The Manufacturers Life Insurance Company now owns 1,107,317 shares of the medical instruments supplier's stock worth $266,974,000 after purchasing an additional 424,487 shares in the last quarter. Institutional investors own 86.97% of the company's stock.

Insiders Place Their Bets

In other Becton, Dickinson and Company news, EVP Michael David Garrison sold 2,838 shares of the firm's stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $223.33, for a total transaction of $633,810.54. Following the transaction, the executive vice president now owns 6,141 shares of the company's stock, valued at approximately $1,371,469.53. This trade represents a 31.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Roland Goette sold 4,483 shares of Becton, Dickinson and Company stock in a transaction on Friday, December 6th. The shares were sold at an average price of $221.01, for a total value of $990,787.83. Following the transaction, the executive vice president now owns 24,345 shares in the company, valued at approximately $5,380,488.45. This trade represents a 15.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,544 shares of company stock worth $2,370,309 in the last three months. 0.36% of the stock is owned by insiders.

Becton, Dickinson and Company Price Performance

Shares of NYSE:BDX traded up $2.43 on Wednesday, hitting $227.56. The company had a trading volume of 1,072,173 shares, compared to its average volume of 2,113,271. The company has a market cap of $65.34 billion, a PE ratio of 37.80, a PEG ratio of 1.61 and a beta of 0.40. 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 business has a 50 day moving average of $232.72 and a 200 day moving average of $233.42. Becton, Dickinson and Company has a 52-week low of $218.75 and a 52-week high of $251.99.

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

Becton, Dickinson and Company declared that its Board of Directors has authorized a share repurchase plan on Tuesday, January 28th that allows the company to repurchase 10,000,000 outstanding shares. This repurchase authorization allows the medical instruments supplier to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board of directors believes its shares are undervalued.

Becton, Dickinson and Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a dividend of $1.04 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.16 annualized dividend and a dividend yield of 1.83%. Becton, Dickinson and Company's dividend payout ratio is presently 69.10%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BDX. StockNews.com upgraded Becton, Dickinson and Company from a "hold" rating to a "buy" rating in a report on Wednesday, February 12th. Barclays raised their price objective on Becton, Dickinson and Company from $278.00 to $279.00 and gave the stock an "overweight" rating in a research report on Friday, February 14th. Finally, Piper Sandler lifted their price objective on Becton, Dickinson and Company from $275.00 to $280.00 and gave the company an "overweight" rating in a research note on Tuesday, January 28th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, Becton, Dickinson and Company presently has a consensus rating of "Buy" and an average target price of $278.29.

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.