Becton, Dickinson and Company $BDX Shares Newly Bought by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP acquired a new stake in shares of Becton, Dickinson and Company (NYSE:BDX) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,896 shares of the medical instruments supplier’s stock, valued at approximately $1,801,000.

A number of other institutional investors also recently bought and sold shares of BDX. BlackRock Inc. purchased a new stake in Becton, Dickinson and Company during the 2nd quarter worth approximately $3,721,533,000. State Street Corp lifted its stake in shares of Becton, Dickinson and Company by 8.5% during the second quarter. State Street Corp now owns 15,000,064 shares of the medical instruments supplier’s stock worth $2,269,960,000 after buying an additional 1,177,256 shares during the period. First Eagle Investment Management LLC lifted its stake in shares of Becton, Dickinson and Company by 15.8% during the second quarter. First Eagle Investment Management LLC now owns 13,815,335 shares of the medical instruments supplier’s stock worth $2,090,675,000 after buying an additional 1,887,224 shares during the period. Bank of America Corp DE purchased a new stake in shares of Becton, Dickinson and Company during the second quarter valued at $474,993,000. Finally, Legal & General Group Plc increased its position in shares of Becton, Dickinson and Company by 1.5% in the 2nd quarter. Legal & General Group Plc now owns 2,101,695 shares of the medical instruments supplier’s stock valued at $318,050,000 after acquiring an additional 30,766 shares during the period. 86.97% of the stock is currently owned by institutional investors and hedge funds.

Becton, Dickinson and Company Stock Down 1.1%

NYSE:BDX opened at $212.97 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.87 and a quick ratio of 0.54. The company’s fifty day moving average price is $189.18 and its 200-day moving average price is $170.36. Becton, Dickinson and Company has a 1-year low of $140.11 and a 1-year high of $216.74. The firm has a market capitalization of $58.68 billion, a P/E ratio of 16.32, a PEG ratio of 3.59 and a beta of 0.22.

Becton, Dickinson and Company (NYSE:BDX) last posted its earnings results on Thursday, November 5th. The medical instruments supplier reported $4.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.07 by $0.08. Becton, Dickinson and Company had a net margin of 5.66% and a return on equity of 14.90%. The company had revenue of $5.27 billion during the quarter, compared to the consensus estimate of $5.11 billion. During the same period in the previous year, the firm posted $3.96 earnings per share. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, equities research analysts anticipate that Becton, Dickinson and Company will post 13.28 EPS for the current year.

Becton, Dickinson and Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Thursday, December 10th will be paid a dividend of $1.06 per share. This represents a $4.24 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Thursday, December 10th. This is an increase from Becton, Dickinson and Company’s previous quarterly dividend of $1.05. Becton, Dickinson and Company’s dividend payout ratio (DPR) is 101.45%.

Becton, Dickinson and Company announced that its Board of Directors has approved a share repurchase program on Thursday, November 5th that permits the company to buy back 10,000,000 outstanding shares. This buyback authorization permits the medical instruments supplier to purchase up to 3.6% of its stock through open market purchases. Share buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BDX. TD Cowen raised their target price on Becton, Dickinson and Company from $163.00 to $182.00 and gave the stock a “hold” rating in a research note on Wednesday, August 5th. Barclays boosted their price target on Becton, Dickinson and Company from $165.00 to $195.00 and gave the company an “underweight” rating in a research note on Tuesday. Stifel Nicolaus set a $195.00 price objective on Becton, Dickinson and Company in a report on Friday, August 7th. JPMorgan Chase & Co. raised their price objective on Becton, Dickinson and Company from $170.00 to $202.00 and gave the stock a “neutral” rating in a research note on Friday, November 6th. Finally, Zacks Research raised Becton, Dickinson and Company from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $197.47.

Key Becton, Dickinson and Company News

Here are the key news stories impacting Becton, Dickinson and Company this week:

• Positive Sentiment: BD reported quarterly EPS of $4.15, beating the $4.07 consensus, and revenue of $5.27 billion versus expectations of $5.11 billion. Revenue grew 5.4% year over year. The company also authorized a repurchase of up to 10 million shares and raised its quarterly dividend to $1.06 per share. BDX earnings, buyback and dividend details
• Neutral Sentiment: BD will hold an Investor Day on December 10, where management may provide updates on its strategy and outlook. BD Investor Day announcement
• Negative Sentiment: Barclays raised its price target from $165 to $195 but kept an “underweight” rating; JPMorgan raised its target from $170 to $202 while maintaining a “neutral” rating. Both targets are below the referenced $212.97 share price, suggesting limited upside in those analysts’ views.
• Neutral Sentiment: CEO Thomas Polen sold 2,993 shares for about $629,000, but the sale was made under a pre-arranged Rule 10b5-1 plan. He retained 110,163 shares after the transaction. CEO share sale details

Insider Activity

In related news, CEO Thomas E. Polen, Jr. sold 4,152 shares of the firm’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $185.00, for a total transaction of $768,120.00. Following the sale, the chief executive officer directly owned 110,163 shares of the company’s stock, valued at $20,380,155. This trade represents a 3.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Feld sold 165 shares of Becton, Dickinson and Company stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $188.49, for a total value of $31,100.85. Following the transaction, the executive vice president owned 19,720 shares of the company’s stock, valued at approximately $3,717,022.80. This represents a 0.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 7,462 shares of company stock valued at $1,456,770. Insiders own 0.40% of the company’s stock.

Becton, Dickinson and Company Company Profile

Becton, Dickinson and Company, commonly known as BD, is a global medical technology company that develops and manufactures products used in healthcare, clinical laboratories and life sciences research. Founded in 1897, the company has a long history of producing medical devices and supplies. BD’s products include syringes, needles, infusion systems and medication-management technologies, as well as equipment and supplies for collecting and processing clinical specimens. The company also provides diagnostic systems, laboratory instruments and tools used in areas such as cell analysis and biomedical research.