Becton, Dickinson and Company (NYSE:BDX) Holdings Cut by State of Michigan Retirement System

State of Michigan Retirement System cut its stake in shares of Becton, Dickinson and Company (NYSE:BDX) by 0.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 78,488 shares of the medical instruments supplier’s stock after selling 200 shares during the quarter. State of Michigan Retirement System’s holdings in Becton, Dickinson and Company were worth $17,807,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Becton, Dickinson and Company by 79.0% during the third 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 acquiring an additional 1,317,723 shares during the period. Nordea Investment Management AB lifted its position in Becton, Dickinson and Company by 31.0% in the 4th quarter. Nordea Investment Management AB now owns 2,844,566 shares of the medical instruments supplier’s stock valued at $647,082,000 after purchasing an additional 673,568 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Becton, Dickinson and Company by 9.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,365,554 shares of the medical instruments supplier’s stock valued at $1,293,635,000 after purchasing an additional 460,440 shares during the period. Vaughan Nelson Investment Management L.P. bought a new position in Becton, Dickinson and Company in the 3rd quarter worth about $108,243,000. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Becton, Dickinson and Company by 62.2% in the third quarter. The Manufacturers Life Insurance Company now owns 1,107,317 shares of the medical instruments supplier’s stock valued at $266,974,000 after purchasing an additional 424,487 shares during the period. 86.97% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other 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 transaction of $159,593.00. Following the completion of the sale, the director now directly owns 36,033 shares of the company’s stock, valued at $8,215,163.67. This trade represents a 1.91 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Roland Goette sold 4,483 shares of the business’s stock in a transaction on Friday, December 6th. The stock was 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 in the company, valued at $5,380,488.45. This trade represents a 15.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,544 shares of company stock worth $2,370,309. 0.36% of the stock is owned by insiders.

Becton, Dickinson and Company Stock Down 1.7 %

BDX opened at $224.46 on Wednesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.63 and a current ratio of 1.13. The company has a market capitalization of $64.45 billion, a PE ratio of 37.29, a P/E/G ratio of 1.63 and a beta of 0.40. The stock’s fifty day moving average is $233.07 and its 200-day moving average is $232.89. Becton, Dickinson and Company has a one year low of $218.75 and a one year high of $251.99.

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

Becton, Dickinson and Company declared that its board has authorized a stock repurchase program on Tuesday, January 28th that permits the company to repurchase 10,000,000 outstanding shares. This repurchase authorization permits the medical instruments supplier to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Becton, Dickinson and Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date is Monday, March 10th. Becton, Dickinson and Company’s payout ratio is 69.10%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Piper Sandler boosted their price objective 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 boosted their price target on Becton, Dickinson and Company from $278.00 to $279.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Finally, StockNews.com raised Becton, Dickinson and Company from a “hold” rating to a “buy” rating in a report on Wednesday. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Becton, Dickinson and Company has a consensus 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.