Westchester Capital Management Inc. Decreases Stake in Becton, Dickinson and Company (NYSE:BDX)

Westchester Capital Management Inc. decreased its holdings in shares of Becton, Dickinson and Company (NYSE:BDX) by 2.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 47,713 shares of the medical instruments supplier’s stock after selling 1,135 shares during the quarter. Becton, Dickinson and Company accounts for about 2.7% of Westchester Capital Management Inc.’s investment portfolio, making the stock its 17th biggest position. Westchester Capital Management Inc.’s holdings in Becton, Dickinson and Company were worth $10,825,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Brighton Jones LLC grew its position in Becton, Dickinson and Company by 98.2% during the 4th quarter. Brighton Jones LLC now owns 1,770 shares of the medical instruments supplier’s stock worth $401,000 after purchasing an additional 877 shares during the period. E. Ohman J or Asset Management AB lifted its position in Becton, Dickinson and Company by 13.4% in the fourth quarter. E. Ohman J or Asset Management AB now owns 176,097 shares of the medical instruments supplier’s stock valued at $39,951,000 after acquiring an additional 20,859 shares during the last quarter. Arete Wealth Advisors LLC acquired a new position in shares of Becton, Dickinson and Company during the third quarter worth about $767,000. Busey Bank grew its position in Becton, Dickinson and Company by 3.8% during the fourth 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. lifted its stake 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 buying an additional 1,317,723 shares during the period. Hedge funds and other institutional investors own 86.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Barclays increased their price objective on shares of 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. StockNews.com upgraded shares of Becton, Dickinson and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, March 5th. Finally, Piper Sandler lifted 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 equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Becton, Dickinson and Company presently has a consensus rating of “Buy” and a consensus target price of $278.29.

Becton, Dickinson and Company Trading Down 1.0 %

BDX stock opened at $225.15 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’s 50-day simple moving average is $232.96 and its 200 day simple moving average is $232.57. 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 capitalization of $64.65 billion, a PE ratio of 37.40, a price-to-earnings-growth ratio of 1.63 and a beta of 0.35.

Becton, Dickinson and Company (NYSE:BDX) last posted its 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 net margin of 8.47% and a return on equity of 15.74%. As a group, sell-side analysts anticipate that Becton, Dickinson and Company will post 14.43 earnings per share for the current year.

Becton, Dickinson and Company Dividend Announcement

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

Becton, Dickinson and Company declared that its board has authorized a stock buyback plan on Tuesday, January 28th that authorizes the company to buyback 10,000,000 outstanding shares. This buyback authorization authorizes the medical instruments supplier to reacquire shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Becton, Dickinson and Company

In other Becton, Dickinson and Company news, Director Jeffrey William Henderson acquired 1,500 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was bought at an average price of $233.62 per share, with a total value of $350,430.00. Following the completion of the acquisition, the director now owns 8,015 shares of the company’s stock, valued at $1,872,464.30. This trade represents a 23.02 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Bertram L. Scott sold 700 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $227.99, for a total value of $159,593.00. Following the completion of the sale, the director now owns 36,033 shares of the company’s stock, valued at $8,215,163.67. The trade was a 1.91 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,423 shares of company stock worth $1,239,780. Corporate insiders own 0.36% of the company’s stock.

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.