Cinctive Capital Management LP Acquires Shares of 37,478 Becton, Dickinson and Company (NYSE:BDX)

Cinctive Capital Management LP purchased a new position in Becton, Dickinson and Company (NYSE:BDX - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 37,478 shares of the medical instruments supplier's stock, valued at approximately $8,503,000.

Other large investors have also made changes to their positions in the company. Norges Bank acquired a new stake in Becton, Dickinson and Company in the fourth quarter worth about $735,523,000. First Eagle Investment Management LLC raised its stake in Becton, Dickinson and Company by 31.4% in the 4th quarter. First Eagle Investment Management LLC now owns 4,426,022 shares of the medical instruments supplier's stock worth $1,004,132,000 after acquiring an additional 1,057,879 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Becton, Dickinson and Company by 15.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 6,175,899 shares of the medical instruments supplier's stock valued at $1,401,126,000 after purchasing an additional 810,345 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Becton, Dickinson and Company in the fourth quarter worth about $181,279,000. Finally, Nordea Investment Management AB lifted its holdings in shares of Becton, Dickinson and Company by 31.0% during the fourth quarter. Nordea Investment Management AB now owns 2,844,566 shares of the medical instruments supplier's stock worth $647,082,000 after purchasing an additional 673,568 shares during the period. 86.97% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

A number of equities analysts have issued reports on BDX shares. Piper Sandler raised their price target on shares of 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. StockNews.com raised shares of Becton, Dickinson and Company from a "hold" rating to a "buy" rating in a report on Wednesday, April 2nd. Finally, Barclays lowered their price target on shares of Becton, Dickinson and Company from $279.00 to $261.00 and set an "overweight" rating on the stock in a report on Monday. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, Becton, Dickinson and Company has an average rating of "Buy" and a consensus price target of $275.71.

Becton, Dickinson and Company Price Performance

Shares of Becton, Dickinson and Company stock traded down $4.02 during trading hours on Monday, reaching $203.32. The stock had a trading volume of 1,826,892 shares, compared to its average volume of 2,093,311. The stock's 50 day moving average is $230.06 and its 200 day moving average is $231.33. The company has a current ratio of 1.13, a quick ratio of 0.63 and a debt-to-equity ratio of 0.69. Becton, Dickinson and Company has a twelve month low of $199.37 and a twelve month high of $251.99. The firm has a market capitalization of $58.38 billion, a PE ratio of 33.77, a PEG ratio of 1.63 and a beta of 0.35.

Becton, Dickinson and Company (NYSE:BDX - Get Free Report) last released 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 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 fiscal year.

Becton, Dickinson and Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were paid a $1.04 dividend. The ex-dividend date was Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a yield of 2.05%. Becton, Dickinson and Company's dividend payout ratio is currently 69.10%.

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

Insider Buying and Selling

In related news, Director Bertram L. Scott sold 700 shares of the firm's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $227.99, for a total value of $159,593.00. Following the transaction, the director now directly owns 36,033 shares of the company's stock, valued at approximately $8,215,163.67. This trade represents a 1.91 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Richard Byrd sold 1,940 shares of Becton, Dickinson and Company stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $224.91, for a total value of $436,325.40. Following the completion of the sale, the executive vice president now owns 7,411 shares in the company, valued at approximately $1,666,808.01. The trade was a 20.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,984 shares of company stock valued at $1,147,865. 0.36% of the stock is owned by corporate insiders.

Becton, Dickinson and Company 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.