Becton, Dickinson and Company (NYSE:BDX) Shares Sold by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury cut its stake in shares of Becton, Dickinson and Company (NYSE:BDX) by 4.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 117,211 shares of the medical instruments supplier’s stock after selling 4,971 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Becton, Dickinson and Company were worth $26,592,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In related news, Director Jeffrey William Henderson purchased 1,500 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were acquired at an average price of $233.62 per share, with a total value of $350,430.00. Following the acquisition, the director now owns 8,015 shares in the company, valued at approximately $1,872,464.30. This trade represents a 23.02 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Richard Byrd sold 1,940 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $224.91, for a total value of $436,325.40. Following the transaction, the executive vice president now owns 7,411 shares of the company’s stock, 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. Over the last three months, insiders have sold 3,578 shares of company stock valued at $795,986. Company insiders own 0.36% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on BDX. Piper Sandler lifted their target price on shares of Becton, Dickinson and Company from $275.00 to $280.00 and gave the company an “overweight” rating in a report on Tuesday, January 28th. Barclays decreased their target price on Becton, Dickinson and Company from $279.00 to $261.00 and set an “overweight” rating for the company in a research report on Monday, April 7th. Finally, StockNews.com upgraded Becton, Dickinson and Company from a “hold” rating to a “buy” rating in a report on Wednesday, April 2nd. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, Becton, Dickinson and Company currently has a consensus rating of “Buy” and an average price target of $275.71.

Becton, Dickinson and Company Stock Performance

Shares of BDX opened at $196.88 on Tuesday. Becton, Dickinson and Company has a 52-week low of $193.03 and a 52-week high of $251.99. The company has a quick ratio of 0.63, a current ratio of 1.13 and a debt-to-equity ratio of 0.69. The firm has a market cap of $56.53 billion, a price-to-earnings ratio of 32.70, a PEG ratio of 1.63 and a beta of 0.35. The business’s 50 day moving average is $220.26 and its two-hundred day moving average is $228.15.

Becton, Dickinson and Company (NYSE:BDX) last posted its quarterly earnings results on Wednesday, February 5th. The medical instruments supplier reported $3.43 EPS 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%. Analysts forecast that Becton, Dickinson and Company will post 14.43 EPS for the current fiscal year.

Becton, Dickinson and Company declared that its board has approved a stock repurchase program on Tuesday, January 28th that permits the company to repurchase 10,000,000 shares. This repurchase authorization permits the medical instruments supplier to reacquire shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Becton, Dickinson and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 2.11%. The ex-dividend date was Monday, March 10th. Becton, Dickinson and Company’s dividend payout ratio (DPR) is presently 69.10%.

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.