PineStone Asset Management Inc. Reduces Stock Holdings in Becton, Dickinson and Company (NYSE:BDX)

PineStone Asset Management Inc. lessened its stake in shares of Becton, Dickinson and Company (NYSE:BDX - Free Report) by 1.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 825,533 shares of the medical instruments supplier's stock after selling 11,593 shares during the quarter. Becton, Dickinson and Company comprises 1.8% of PineStone Asset Management Inc.'s investment portfolio, making the stock its 22nd biggest holding. PineStone Asset Management Inc. owned about 0.28% of Becton, Dickinson and Company worth $187,289,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Brighton Jones LLC increased its stake in Becton, Dickinson and Company by 98.2% in the 4th quarter. Brighton Jones LLC now owns 1,770 shares of the medical instruments supplier's stock valued at $401,000 after buying an additional 877 shares during the last quarter. E. Ohman J or Asset Management AB boosted its holdings in Becton, Dickinson and Company by 13.4% in the 4th quarter. E. Ohman J or Asset Management AB now owns 176,097 shares of the medical instruments supplier's stock worth $39,951,000 after buying an additional 20,859 shares during the period. Arete Wealth Advisors LLC bought a new position in Becton, Dickinson and Company in the 3rd quarter worth approximately $767,000. Busey Bank boosted its holdings in Becton, Dickinson and Company by 3.8% in the 4th quarter. Busey Bank now owns 66,255 shares of the medical instruments supplier's stock worth $15,031,000 after buying an additional 2,399 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Becton, Dickinson and Company by 79.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,986,543 shares of the medical instruments supplier's stock valued at $720,089,000 after purchasing an additional 1,317,723 shares during the period. Institutional investors own 86.97% of the company's stock.

Becton, Dickinson and Company Price Performance

Shares of NYSE:BDX traded up $2.43 on Wednesday, reaching $227.56. The company's stock had a trading volume of 1,072,173 shares, compared to its average volume of 2,113,271. Becton, Dickinson and Company has a 52-week low of $218.75 and a 52-week high of $251.99. The company has a market cap of $65.34 billion, a P/E ratio of 37.80, a PEG ratio of 1.61 and a beta of 0.40. The company has a 50-day simple moving average of $232.72 and a 200 day simple moving average of $233.42. 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 released its earnings results on Wednesday, February 5th. The medical instruments supplier reported $3.43 earnings per share (EPS) for the quarter, topping the consensus estimate 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 research analysts anticipate that Becton, Dickinson and Company will post 14.43 EPS for the current fiscal year.

Becton, Dickinson and Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a $1.04 dividend. 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 currently 69.10%.

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on BDX shares. Barclays raised their price objective on shares of Becton, Dickinson and Company from $278.00 to $279.00 and gave the company an "overweight" rating in a research report on Friday, February 14th. StockNews.com upgraded shares of Becton, Dickinson and Company from a "hold" rating to a "buy" rating in a research report on Wednesday, February 12th. Finally, Piper Sandler boosted 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. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $278.29.

Insider Activity

In other news, EVP Roland Goette sold 4,483 shares of the company's 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 sale, the executive vice president now directly owns 24,345 shares of the company's stock, valued at $5,380,488.45. This represents a 15.55 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Shana Carol Neal sold 788 shares of the company's stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $235.00, for a total transaction of $185,180.00. Following the completion of 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. In the last quarter, insiders sold 10,544 shares of company stock worth $2,370,309. 0.36% of the stock is currently owned by corporate insiders.

Becton, Dickinson and 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.