PNC Financial Services Group Inc. Lowers Stake in Becton, Dickinson and Company (NYSE:BDX)

PNC Financial Services Group Inc. lowered its stake in shares of Becton, Dickinson and Company (NYSE:BDX) by 3.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 186,402 shares of the medical instruments supplier’s stock after selling 6,293 shares during the period. PNC Financial Services Group Inc.’s holdings in Becton, Dickinson and Company were worth $42,289,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in BDX. Bank of Jackson Hole Trust purchased a new position in shares of Becton, Dickinson and Company during the 4th quarter worth approximately $25,000. Sierra Ocean LLC acquired a new stake in Becton, Dickinson and Company during the 4th quarter worth approximately $29,000. Ashton Thomas Securities LLC acquired a new stake in Becton, Dickinson and Company during the 3rd quarter worth approximately $33,000. Tompkins Financial Corp lifted its holdings in Becton, Dickinson and Company by 44.2% during the 3rd quarter. Tompkins Financial Corp now owns 150 shares of the medical instruments supplier’s stock worth $36,000 after buying an additional 46 shares in the last quarter. Finally, Kennebec Savings Bank acquired a new stake in Becton, Dickinson and Company during the 3rd quarter worth approximately $46,000. Hedge funds and other institutional investors own 86.97% of the company’s stock.

Insider Buying and Selling

In related news, EVP Michael David Garrison sold 2,838 shares of Becton, Dickinson and Company stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $223.33, for a total transaction of $633,810.54. Following the sale, the executive vice president now directly owns 6,141 shares in the company, valued at $1,371,469.53. This trade represents a 31.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bertram L. Scott sold 700 shares of Becton, Dickinson and Company stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $227.99, for a total transaction of $159,593.00. Following the sale, the director now owns 36,033 shares in the company, valued at $8,215,163.67. This represents a 1.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,423 shares of company stock worth $1,239,780 in the last ninety days. 0.36% of the stock is owned by corporate insiders.

Becton, Dickinson and Company Price Performance

Shares of BDX opened at $229.51 on Monday. Becton, Dickinson and Company has a twelve month low of $218.75 and a twelve month high of $251.99. The firm’s fifty day simple moving average is $232.98 and its 200-day simple moving average is $232.71. The firm has a market capitalization of $65.90 billion, a price-to-earnings ratio of 38.12, a PEG ratio of 1.63 and a beta of 0.35. The company has a current ratio of 1.13, a quick ratio of 0.63 and a debt-to-equity ratio of 0.69.

Becton, Dickinson and Company (NYSE:BDX) last announced its quarterly earnings data on Wednesday, February 5th. The medical instruments supplier reported $3.43 earnings per share for the quarter, beating analysts’ consensus estimates 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%. Equities analysts forecast that Becton, Dickinson and Company will post 14.43 EPS for the current fiscal year.

Becton, Dickinson and Company declared that its Board of Directors has initiated a stock buyback program on Tuesday, January 28th that allows the company to buyback 10,000,000 outstanding shares. This buyback authorization allows the medical instruments supplier to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Becton, Dickinson and Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid a dividend of $1.04 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.16 annualized dividend and a yield of 1.81%. Becton, Dickinson and Company’s dividend payout ratio is currently 69.10%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on BDX shares. Barclays increased their target price on shares of Becton, Dickinson and Company from $278.00 to $279.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. StockNews.com upgraded shares of Becton, Dickinson and Company from a “hold” rating to a “buy” rating in a report on Wednesday, March 5th. Finally, Piper Sandler increased 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 research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently 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.