PineStone Asset Management Inc. Cuts Stake in Becton, Dickinson and Company (NYSE:BDX)

PineStone Asset Management Inc. reduced its position in shares of Becton, Dickinson and Company (NYSE:BDX) by 1.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 825,533 shares of the medical instruments supplier’s stock after selling 11,593 shares during the period. Becton, Dickinson and Company comprises 1.8% of PineStone Asset Management Inc.’s portfolio, making the stock its 22nd largest position. PineStone Asset Management Inc.’s holdings in Becton, Dickinson and Company were worth $187,289,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Tompkins Financial Corp grew its position in shares of Becton, Dickinson and Company by 44.2% in the 3rd quarter. Tompkins Financial Corp now owns 150 shares of the medical instruments supplier’s stock worth $36,000 after acquiring an additional 46 shares in the last quarter. Radnor Capital Management LLC grew its position in Becton, Dickinson and Company by 1.7% in the 3rd quarter. Radnor Capital Management LLC now owns 2,937 shares of the medical instruments supplier’s stock valued at $708,000 after buying an additional 48 shares in the last quarter. Wesbanco Bank Inc. lifted its position in Becton, Dickinson and Company by 1.9% in the fourth quarter. Wesbanco Bank Inc. now owns 2,558 shares of the medical instruments supplier’s stock worth $580,000 after purchasing an additional 48 shares during the period. Umpqua Bank lifted its holdings in shares of Becton, Dickinson and Company by 1.8% in the third quarter. Umpqua Bank now owns 2,738 shares of the medical instruments supplier’s stock valued at $660,000 after buying an additional 49 shares during the period. Finally, Americana Partners LLC lifted its holdings in Becton, Dickinson and Company by 3.5% in the 3rd quarter. Americana Partners LLC now owns 1,468 shares of the medical instruments supplier’s stock valued at $354,000 after acquiring an additional 50 shares during the last quarter. 86.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Roland Goette sold 4,483 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $221.01, for a total transaction of $990,787.83. Following the sale, the executive vice president now owns 24,345 shares in the company, valued at approximately $5,380,488.45. This trade represents a 15.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Michael David Garrison sold 2,838 shares of the business’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $223.33, for a total value of $633,810.54. Following the transaction, the executive vice president now directly owns 6,141 shares of the company’s stock, valued at approximately $1,371,469.53. The trade was a 31.61 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,544 shares of company stock valued at $2,370,309. Company insiders own 0.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BDX. StockNews.com upgraded Becton, Dickinson and Company from a “hold” rating to a “buy” rating in a report on Wednesday. Piper Sandler raised their price target on Becton, Dickinson and Company from $275.00 to $280.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 28th. Finally, Barclays lifted their price objective on shares of Becton, Dickinson and Company from $278.00 to $279.00 and gave the company an “overweight” rating in a research note on Friday. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $278.29.

Becton, Dickinson and Company Stock Down 0.1 %

Shares of NYSE BDX opened at $224.89 on Friday. The stock has a market cap of $65.22 billion, a P/E ratio of 37.36, a P/E/G ratio of 1.65 and a beta of 0.40. Becton, Dickinson and Company has a 52-week low of $218.75 and a 52-week high of $251.99. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.74 and a current ratio of 1.13. The firm has a 50 day moving average price of $232.50 and a 200 day moving average price of $233.82.

Becton, Dickinson and Company (NYSE:BDX) last released its quarterly earnings results on Wednesday, February 5th. The medical instruments supplier reported $3.43 earnings per share for the quarter, topping analysts’ consensus estimates of $3.00 by $0.43. Becton, Dickinson and Company had a return on equity of 15.74% and a net margin of 8.47%. Analysts expect that Becton, Dickinson and Company will post 14.41 EPS for the current year.

Becton, Dickinson and Company declared that its board has authorized a share repurchase plan on Tuesday, January 28th that permits the company to buyback 10,000,000 outstanding shares. This buyback authorization permits the medical instruments supplier to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Becton, Dickinson and Company Dividend Announcement

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