Patten & Patten Inc. TN Lowers Stock Position in Becton, Dickinson and Company (NYSE:BDX)

Patten & Patten Inc. TN reduced its stake in shares of Becton, Dickinson and Company (NYSE:BDX) by 16.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 4,307 shares of the medical instruments supplier’s stock after selling 872 shares during the period. Patten & Patten Inc. TN’s holdings in Becton, Dickinson and Company were worth $977,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Envestnet Portfolio Solutions Inc. lifted its position in shares of Becton, Dickinson and Company by 2.4% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 29,357 shares of the medical instruments supplier’s stock valued at $6,660,000 after buying an additional 698 shares in the last quarter. Pollock Investment Advisors LLC purchased a new position in shares of Becton, Dickinson and Company during the 4th quarter valued at about $1,233,000. Frank Rimerman Advisors LLC lifted its position in shares of Becton, Dickinson and Company by 7.6% during the 4th quarter. Frank Rimerman Advisors LLC now owns 2,550 shares of the medical instruments supplier’s stock valued at $579,000 after buying an additional 181 shares in the last quarter. Hills Bank & Trust Co lifted its position in shares of Becton, Dickinson and Company by 1.7% during the 4th quarter. Hills Bank & Trust Co now owns 8,697 shares of the medical instruments supplier’s stock valued at $1,973,000 after buying an additional 142 shares in the last quarter. Finally, Picton Mahoney Asset Management lifted its position in shares of Becton, Dickinson and Company by 61.4% during the 4th quarter. Picton Mahoney Asset Management now owns 142 shares of the medical instruments supplier’s stock valued at $32,000 after buying an additional 54 shares in the last quarter. 86.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP David Shan sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $240.00, for a total transaction of $120,000.00. Following the transaction, the executive vice president now owns 5,741 shares of the company’s stock, valued at approximately $1,377,840. The trade was a 8.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Michael David Garrison sold 597 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $236.51, for a total value of $141,196.47. Following the transaction, the executive vice president now directly owns 5,544 shares in the company, valued at approximately $1,311,211.44. This represents a 9.72 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,363 shares of company stock valued at $1,676,105. 0.36% of the stock is currently owned by insiders.

Becton, Dickinson and Company Stock Performance

NYSE:BDX opened at $226.43 on Monday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.13 and a quick ratio of 0.63. Becton, Dickinson and Company has a 1 year low of $218.75 and a 1 year high of $251.99. The stock’s 50 day simple moving average is $232.78 and its two-hundred day simple moving average is $232.29. The company has a market cap of $65.02 billion, a price-to-earnings ratio of 37.61, a PEG ratio of 1.63 and a beta of 0.35.

Becton, Dickinson and Company (NYSE:BDX) last released its quarterly earnings data on Wednesday, February 5th. The medical instruments supplier reported $3.43 earnings per share (EPS) 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%. As a group, equities analysts anticipate that Becton, Dickinson and Company will post 14.43 earnings per share for the current fiscal year.

Becton, Dickinson and Company declared that its board has initiated a share buyback plan on Tuesday, January 28th that allows the company to buyback 10,000,000 shares. This buyback authorization allows the medical instruments supplier to buy shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Becton, Dickinson and Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend is Monday, March 10th. Becton, Dickinson and Company’s dividend payout ratio is currently 69.10%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Barclays lifted their target price on Becton, Dickinson and Company from $278.00 to $279.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Piper Sandler lifted their target price on Becton, Dickinson and Company from $275.00 to $280.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. Finally, StockNews.com raised Becton, Dickinson and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, March 5th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Becton, Dickinson and Company currently has a consensus rating of “Buy” and a consensus target price of $278.29.

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.