Beacon Pointe Advisors LLC Trims Stock Position in Becton, Dickinson and Company (NYSE:BDX)

Beacon Pointe Advisors LLC reduced its stake in shares of Becton, Dickinson and Company (NYSE:BDXGet Rating) by 68.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,584 shares of the medical instruments supplier’s stock after selling 11,998 shares during the quarter. Beacon Pointe Advisors LLC’s holdings in Becton, Dickinson and were worth $1,375,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BDX. Checchi Capital Advisers LLC lifted its stake in shares of Becton, Dickinson and by 26.9% in the 2nd quarter. Checchi Capital Advisers LLC now owns 3,315 shares of the medical instruments supplier’s stock worth $810,000 after purchasing an additional 703 shares during the period. King Luther Capital Management Corp boosted its position in shares of Becton, Dickinson and by 0.5% during the 2nd quarter. King Luther Capital Management Corp now owns 22,158 shares of the medical instruments supplier’s stock valued at $5,463,000 after acquiring an additional 100 shares during the last quarter. Naples Global Advisors LLC lifted its position in Becton, Dickinson and by 4.4% in the second quarter. Naples Global Advisors LLC now owns 1,180 shares of the medical instruments supplier’s stock worth $291,000 after buying an additional 50 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its position in Becton, Dickinson and by 7.3% in the second quarter. O Shaughnessy Asset Management LLC now owns 6,156 shares of the medical instruments supplier’s stock worth $1,518,000 after buying an additional 417 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its position in shares of Becton, Dickinson and by 18.7% during the second quarter. Clearbridge Investments LLC now owns 2,309,921 shares of the medical instruments supplier’s stock worth $569,465,000 after purchasing an additional 363,641 shares during the last quarter. 86.74% of the stock is owned by hedge funds and other institutional investors.

Becton, Dickinson and Stock Up 0.7 %

Becton, Dickinson and stock opened at $237.34 on Thursday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.04 and a quick ratio of 0.63. Becton, Dickinson and Company has a 12 month low of $215.90 and a 12 month high of $280.62. The stock has a market capitalization of $67.69 billion, a PE ratio of 40.36, a price-to-earnings-growth ratio of 2.69 and a beta of 0.61. The business has a 50 day simple moving average of $230.10 and a 200-day simple moving average of $243.16.

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

Becton, Dickinson and Increases Dividend

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

Analyst Upgrades and Downgrades

BDX has been the topic of several research reports. William Blair restated an “outperform” rating on shares of Becton, Dickinson and in a research note on Friday, November 11th. Morgan Stanley lifted their target price on Becton, Dickinson and from $272.00 to $275.00 and gave the stock an “overweight” rating in a report on Tuesday, October 11th. Cowen decreased their price target on Becton, Dickinson and to $255.00 in a report on Wednesday, November 16th. Piper Sandler cut 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. Finally, The Goldman Sachs Group cut their price objective on Becton, Dickinson and from $319.00 to $272.00 and set a “buy” rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $267.70.

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

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

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