Advisors Capital Management LLC Decreases Position in Becton, Dickinson and Company (NYSE:BDX)

Advisors Capital Management LLC reduced its position in shares of Becton, Dickinson and Company (NYSE:BDX) by 15.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,439 shares of the medical instruments supplier’s stock after selling 256 shares during the period. Advisors Capital Management LLC’s holdings in Becton, Dickinson and Company were worth $327,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Norges Bank purchased a new stake in Becton, Dickinson and Company in the 4th quarter valued at $735,523,000. First Eagle Investment Management LLC boosted its position in shares of Becton, Dickinson and Company by 31.4% during the 4th quarter. First Eagle Investment Management LLC now owns 4,426,022 shares of the medical instruments supplier’s stock valued at $1,004,132,000 after acquiring an additional 1,057,879 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Becton, Dickinson and Company by 15.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 6,175,899 shares of the medical instruments supplier’s stock valued at $1,401,126,000 after purchasing an additional 810,345 shares during the period. Raymond James Financial Inc. acquired a new stake in Becton, Dickinson and Company during the fourth quarter worth about $181,279,000. Finally, Nordea Investment Management AB raised its stake in Becton, Dickinson and Company by 31.0% during the fourth quarter. Nordea Investment Management AB now owns 2,844,566 shares of the medical instruments supplier’s stock worth $647,082,000 after purchasing an additional 673,568 shares during the period. Institutional investors and hedge funds own 86.97% of the company’s stock.

Insider Activity

In other news, EVP Michael David Garrison sold 479 shares of the company’s stock in a transaction dated Wednesday, April 9th. The shares were sold at an average price of $197.28, for a total value of $94,497.12. Following the completion of the sale, the executive vice president now directly owns 4,887 shares of the company’s stock, valued at approximately $964,107.36. This represents a 8.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Richard Byrd sold 1,940 shares of the firm’s stock in a transaction dated 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 directly owns 7,411 shares in the company, valued at approximately $1,666,808.01. This represents a 20.75 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,675 shares of company stock valued at $1,057,182. 0.36% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

Becton, Dickinson and Company Stock Down 1.8 %

Shares of NYSE:BDX opened at $202.02 on Wednesday. The firm has a 50 day simple moving average of $222.67 and a 200-day simple moving average of $229.37. Becton, Dickinson and Company has a twelve month low of $193.03 and a twelve month high of $251.99. 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 company has a market capitalization of $58.01 billion, a PE ratio of 33.56, a P/E/G ratio of 1.63 and a beta of 0.35.

Becton, Dickinson and Company (NYSE:BDX) 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, equities analysts predict that Becton, Dickinson and Company will post 14.43 EPS for the current fiscal year.

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

Becton, Dickinson and Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend was Monday, March 10th. Becton, Dickinson and Company’s dividend payout ratio is currently 69.10%.

Becton, Dickinson and Company 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.