Becton, Dickinson and Company (NYSE:BDX) Shares Sold by Sector Gamma AS

Sector Gamma AS lessened its stake in shares of Becton, Dickinson and Company (NYSE:BDX - Free Report) by 1.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 76,000 shares of the medical instruments supplier's stock after selling 1,280 shares during the period. Becton, Dickinson and Company comprises about 5.9% of Sector Gamma AS's portfolio, making the stock its 5th largest holding. Sector Gamma AS's holdings in Becton, Dickinson and Company were worth $17,242,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. raised its stake in shares of Becton, Dickinson and Company by 1.5% in the third quarter. Principal Financial Group Inc. now owns 1,179,715 shares of the medical instruments supplier's stock worth $284,429,000 after acquiring an additional 16,918 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in Becton, Dickinson and Company in the third quarter valued at approximately $458,000. Empowered Funds LLC raised its position in shares of Becton, Dickinson and Company by 9.2% in the 3rd quarter. Empowered Funds LLC now owns 5,867 shares of the medical instruments supplier's stock worth $1,415,000 after acquiring an additional 496 shares in the last quarter. Caprock Group LLC acquired a new stake in shares of Becton, Dickinson and Company in the 3rd quarter worth about $1,693,000. Finally, Prospera Private Wealth LLC bought a new position in shares of Becton, Dickinson and Company during the 3rd quarter valued at approximately $676,000. 86.97% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Becton, Dickinson and Company Price Performance

Becton, Dickinson and Company stock traded down $1.23 during trading hours on Tuesday, hitting $227.96. 1,675,001 shares of the stock were exchanged, compared to its average volume of 1,534,439. The business's 50-day moving average is $232.27 and its two-hundred day moving average is $231.87. Becton, Dickinson and Company has a 12 month low of $218.75 and a 12 month high of $251.99. The stock has a market capitalization of $65.46 billion, a P/E ratio of 37.87, a P/E/G ratio of 1.63 and a beta of 0.35. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.63 and a current ratio of 1.13.

Becton, Dickinson and Company (NYSE:BDX - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The medical instruments supplier reported $3.43 EPS for the quarter, beating 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%. Equities research analysts expect that Becton, Dickinson and Company will post 14.43 EPS for the current fiscal year.

Becton, Dickinson and Company announced that its board has authorized a stock buyback plan on Tuesday, January 28th that permits the company to buyback 10,000,000 outstanding shares. This buyback authorization permits the medical instruments supplier to reacquire shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its shares are undervalued.

Becton, Dickinson and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a $1.04 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.16 annualized dividend and a yield of 1.82%. Becton, Dickinson and Company's dividend payout ratio (DPR) is 69.10%.

Insider Transactions at Becton, Dickinson and Company

In related news, Director Bertram L. Scott sold 700 shares of the firm's stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $227.99, for a total value of $159,593.00. Following the completion of the sale, the director now owns 36,033 shares of the company's stock, valued at $8,215,163.67. This trade represents a 1.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP David Shan sold 500 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $240.00, for a total value of $120,000.00. Following the sale, the executive vice president now owns 5,741 shares in the company, valued at approximately $1,377,840. This represents a 8.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,984 shares of company stock worth $1,147,865 in the last quarter. Insiders own 0.36% of the company's stock.

Analyst Upgrades and Downgrades

BDX has been the topic of several recent research reports. Piper Sandler raised their price target on Becton, Dickinson and Company from $275.00 to $280.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 28th. Barclays lifted their target price on Becton, Dickinson and Company from $278.00 to $279.00 and gave the company an "overweight" rating in a research note on Friday, February 14th. Finally, StockNews.com upgraded Becton, Dickinson and Company from a "hold" rating to a "buy" rating in a research note on Wednesday, March 5th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target 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.