Renaissance Technologies LLC Decreases Position in Becton, Dickinson and Company (NYSE:BDX)

Renaissance Technologies LLC lessened its position in Becton, Dickinson and Company (NYSE:BDX - Free Report) by 63.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 245,991 shares of the medical instruments supplier's stock after selling 427,100 shares during the quarter. Renaissance Technologies LLC owned 0.08% of Becton, Dickinson and Company worth $55,808,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Bank of Jackson Hole Trust bought a new stake in shares of Becton, Dickinson and Company during the 4th quarter worth approximately $25,000. Sierra Ocean LLC purchased a new position in Becton, Dickinson and Company in the 4th quarter worth about $29,000. Picton Mahoney Asset Management increased its stake in Becton, Dickinson and Company by 61.4% in the 4th quarter. Picton Mahoney Asset Management now owns 142 shares of the medical instruments supplier's stock worth $32,000 after buying an additional 54 shares during the period. Hopwood Financial Services Inc. purchased a new stake in Becton, Dickinson and Company in the 4th quarter valued at about $39,000. Finally, Versant Capital Management Inc grew its stake in Becton, Dickinson and Company by 54.1% in the 4th quarter. Versant Capital Management Inc now owns 208 shares of the medical instruments supplier's stock worth $47,000 after acquiring an additional 73 shares in the last quarter. 86.97% of the stock is owned by hedge funds and other institutional investors.

Becton, Dickinson and Company Trading Down 1.4 %

BDX stock traded down $2.91 during midday trading on Tuesday, hitting $202.80. 571,824 shares of the company's stock were exchanged, compared to its average volume of 1,683,457. The business has a 50-day simple moving average of $223.18 and a two-hundred day simple moving average of $229.56. 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 stock has a market capitalization of $58.23 billion, a PE ratio of 33.69, a P/E/G ratio of 1.63 and a beta of 0.35. Becton, Dickinson and Company has a 1-year low of $193.03 and a 1-year high of $251.99.

Remove Ads

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 earnings per share 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%. On average, sell-side analysts predict 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 disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were paid a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend was Monday, March 10th. Becton, Dickinson and Company's payout ratio is 69.10%.

Becton, Dickinson and Company announced that its board has initiated a stock buyback program on Tuesday, January 28th that permits the company to buyback 10,000,000 shares. This buyback authorization permits the medical instruments supplier to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

BDX has been the subject of a number of research reports. Piper Sandler boosted their price target on Becton, Dickinson and Company from $275.00 to $280.00 and gave the company an "overweight" rating in a report on Tuesday, January 28th. StockNews.com upgraded Becton, Dickinson and Company from a "hold" rating to a "buy" rating in a report on Wednesday, April 2nd. Finally, Barclays cut their target price on shares of Becton, Dickinson and Company from $279.00 to $261.00 and set an "overweight" rating on the stock in a research report on Monday, April 7th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $275.71.

Insider Activity

In related news, EVP Michael David Garrison sold 597 shares of the company's stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $236.51, for a total transaction of $141,196.47. Following the sale, the executive vice president now directly owns 5,544 shares in the company, valued at approximately $1,311,211.44. This represents a 9.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David Shan sold 500 shares of Becton, Dickinson and Company stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $240.00, for a total transaction of $120,000.00. Following the completion of the transaction, the executive vice president now owns 5,741 shares of the company's stock, valued at $1,377,840. This represents a 8.01 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,675 shares of company stock valued at $1,057,182. 0.36% of the stock is currently owned by company 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.