Cypress Asset Management Inc. TX Trims Stake in Becton, Dickinson and Company (NYSE:BDX)

Cypress Asset Management Inc. TX reduced its position in shares of Becton, Dickinson and Company (NYSE:BDXGet Rating) by 4.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,434 shares of the medical instruments supplier’s stock after selling 205 shares during the quarter. Cypress Asset Management Inc. TX’s holdings in Becton, Dickinson and were worth $1,093,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Granite Investment Partners LLC increased its holdings in shares of Becton, Dickinson and by 1.5% in the 2nd quarter. Granite Investment Partners LLC now owns 26,544 shares of the medical instruments supplier’s stock valued at $6,544,000 after acquiring an additional 392 shares during the period. Sound Income Strategies LLC increased its holdings in shares of Becton, Dickinson and by 71.1% in the 2nd quarter. Sound Income Strategies LLC now owns 296 shares of the medical instruments supplier’s stock valued at $73,000 after acquiring an additional 123 shares during the period. State of Alaska Department of Revenue increased its holdings in shares of Becton, Dickinson and by 0.7% in the 2nd quarter. State of Alaska Department of Revenue now owns 40,940 shares of the medical instruments supplier’s stock valued at $10,092,000 after acquiring an additional 265 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Becton, Dickinson and by 3.9% in the 2nd quarter. Victory Capital Management Inc. now owns 117,549 shares of the medical instruments supplier’s stock valued at $28,980,000 after acquiring an additional 4,390 shares during the period. Finally, Resurgent Financial Advisors LLC purchased a new position in shares of Becton, Dickinson and in the 1st quarter valued at $220,000. 86.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BDX has been the topic of a number of analyst reports. Evercore ISI cut their price target on Becton, Dickinson and to $270.00 in a report on Wednesday, November 16th. StockNews.com cut Becton, Dickinson and from a “buy” rating to a “hold” rating in a research report on Friday, November 11th. Piper Sandler lowered their price objective on Becton, Dickinson and from $255.00 to $245.00 and set a “neutral” rating for the company in a research report on Thursday, November 10th. Citigroup lowered their price objective on Becton, Dickinson and from $227.00 to $220.00 in a research report on Monday, November 14th. Finally, Cowen lowered their price objective on Becton, Dickinson and to $255.00 in a research report on Wednesday, November 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $267.70.

Becton, Dickinson and Stock Performance

Shares of BDX stock traded up $1.73 during mid-day trading on Thursday, hitting $237.34. 983,777 shares of the stock were exchanged, compared to its average volume of 1,940,478. The stock’s fifty day simple moving average is $229.67 and its two-hundred day simple moving average is $243.12. The stock has a market capitalization of $67.69 billion, a price-to-earnings ratio of 40.36, a P/E/G ratio of 2.70 and a beta of 0.61. Becton, Dickinson and Company has a 12-month low of $215.90 and a 12-month high of $280.62. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.63 and a current ratio of 1.04.

Becton, Dickinson and (NYSE:BDXGet Rating) last posted its quarterly earnings results on Thursday, November 10th. The medical instruments supplier reported $2.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.74 by $0.01. The company had revenue of $4.76 billion during the quarter, compared to the consensus estimate of $4.72 billion. Becton, Dickinson and had a net margin of 9.16% and a return on equity of 14.47%. The company’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same period last year, the firm earned $2.15 EPS. On average, analysts forecast that Becton, Dickinson and Company will post 11.94 EPS for the current year.

Becton, Dickinson and Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Friday, December 9th will be given a $0.91 dividend. The ex-dividend date is Thursday, December 8th. This represents a $3.64 annualized dividend and a dividend yield of 1.53%. This is an increase from Becton, Dickinson and’s previous quarterly dividend of $0.87. Becton, Dickinson and’s payout ratio is presently 59.18%.

Becton, Dickinson and Profile

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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's BD Medical segment offers peripheral intravenous (IV) and advanced peripheral catheters, central lines, acute dialysis catheters, vascular care and preparation products, needle-free IV connectors and extensions sets, closed-system drug transfer devices, hazardous drug detections, hypodermic syringes and needles, anesthesia needles and trays, enteral syringes, and sharps disposal systems; IV medication and infusion therapy delivery systems, medication compounding workflow systems, automated medication dispensing and supply management systems, and medication inventory optimization and tracking systems; syringes, pen needles, and other products for diabetes; and prefillable drug delivery systems.

Further Reading

Institutional Ownership by Quarter for Becton, Dickinson and (NYSE:BDX)

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