Cinctive Capital Management LP Takes $8.50 Million Position in Becton, Dickinson and Company (NYSE:BDX)

Cinctive Capital Management LP acquired a new position in shares of Becton, Dickinson and Company (NYSE:BDX) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 37,478 shares of the medical instruments supplier’s stock, valued at approximately $8,503,000.

Several other large investors have also bought and sold shares of BDX. Principal Financial Group Inc. increased its position in Becton, Dickinson and Company by 1.5% during the 3rd quarter. Principal Financial Group Inc. now owns 1,179,715 shares of the medical instruments supplier’s stock worth $284,429,000 after purchasing an additional 16,918 shares in the last quarter. Public Sector Pension Investment Board grew its stake in shares of Becton, Dickinson and Company by 12.5% during the third quarter. Public Sector Pension Investment Board now owns 12,566 shares of the medical instruments supplier’s stock worth $3,030,000 after buying an additional 1,400 shares during the last quarter. Erste Asset Management GmbH acquired a new position in shares of Becton, Dickinson and Company during the third quarter worth $1,207,000. Ascent Group LLC bought a new position in shares of Becton, Dickinson and Company in the 3rd quarter valued at $247,000. Finally, Hilltop Holdings Inc. boosted its holdings in shares of Becton, Dickinson and Company by 9.6% during the 3rd quarter. Hilltop Holdings Inc. now owns 5,357 shares of the medical instruments supplier’s stock valued at $1,292,000 after acquiring an additional 470 shares in the last quarter. 86.97% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Becton, Dickinson and Company news, EVP Michael David Garrison sold 597 shares of the stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $236.51, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bertram L. Scott sold 700 shares of Becton, Dickinson and Company stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $227.99, for a total transaction of $159,593.00. Following the completion of the sale, the director now owns 36,033 shares of the company’s stock, valued at $8,215,163.67. This represents a 1.91 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,984 shares of company stock worth $1,147,865. Company insiders own 0.36% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on BDX. StockNews.com raised Becton, Dickinson and Company from a “hold” rating to a “buy” rating in a report on Wednesday. Barclays raised 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 report on Friday, February 14th. Finally, Piper Sandler boosted their target price on shares of Becton, Dickinson and Company from $275.00 to $280.00 and gave the stock an “overweight” rating in a report on Tuesday, January 28th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $278.29.

Becton, Dickinson and Company Price Performance

Shares of BDX opened at $226.04 on Wednesday. The business has a 50-day moving average of $231.38 and a 200-day moving average of $231.62. Becton, Dickinson and Company has a 1 year low of $218.75 and a 1 year high of $251.99. The company has a market capitalization of $64.90 billion, a price-to-earnings ratio of 37.55, a price-to-earnings-growth ratio of 1.63 and a beta of 0.35. 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 (NYSE:BDX) last released its quarterly earnings results on Wednesday, February 5th. The medical instruments supplier reported $3.43 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. As a group, equities research analysts anticipate that Becton, Dickinson and Company will post 14.43 earnings per share for the current year.

Becton, Dickinson and Company announced that its board has authorized a stock repurchase plan on Tuesday, January 28th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the medical instruments supplier to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Becton, Dickinson and Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were given a dividend of $1.04 per share. The ex-dividend date was Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a yield of 1.84%. Becton, Dickinson and Company’s dividend payout ratio (DPR) 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.