Becton, Dickinson and Company (NYSE:BDX) Holdings Lowered by Lighthouse Investment Partners LLC

Lighthouse Investment Partners LLC trimmed its stake in shares of Becton, Dickinson and Company (NYSE:BDX) by 30.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,000 shares of the medical instruments supplier’s stock after selling 3,000 shares during the period. Lighthouse Investment Partners LLC’s holdings in Becton, Dickinson and Company were worth $1,588,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Bank of Jackson Hole Trust purchased a new stake in shares of Becton, Dickinson and Company during the fourth quarter valued at $25,000. Sierra Ocean LLC acquired a new position in Becton, Dickinson and Company during the fourth quarter valued at $29,000. Picton Mahoney Asset Management raised its position in Becton, Dickinson and Company by 61.4% during the fourth 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 during the period. Hopwood Financial Services Inc. acquired a new position in Becton, Dickinson and Company during the fourth quarter valued at $39,000. Finally, CoreFirst Bank & Trust acquired a new position in Becton, Dickinson and Company during the fourth quarter valued at $50,000. 86.97% of the stock is owned by hedge funds and other institutional investors.

Becton, Dickinson and Company Stock Performance

BDX opened at $175.32 on Wednesday. The company has a market cap of $50.25 billion, a PE ratio of 29.12, a price-to-earnings-growth ratio of 1.63 and a beta of 0.31. The stock has a 50-day moving average of $206.87 and a 200-day moving average of $222.15. Becton, Dickinson and Company has a 52-week low of $163.33 and a 52-week high of $251.99. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.63 and a current ratio of 1.13.

Becton, Dickinson and Company (NYSE:BDX) last released its quarterly earnings results on Thursday, May 1st. The medical instruments supplier reported $3.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.28 by $0.07. The company had revenue of $5.27 billion during the quarter, compared to the consensus estimate of $5.35 billion. Becton, Dickinson and Company had a return on equity of 15.74% and a net margin of 8.47%. The firm’s revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.17 EPS. As a group, equities research analysts forecast that Becton, Dickinson and Company will post 14.43 earnings per share for the current fiscal year.

Becton, Dickinson and Company announced that its Board of Directors has approved a share buyback program on Tuesday, January 28th that permits the company to repurchase 10,000,000 shares. This repurchase authorization permits the medical instruments supplier to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Becton, Dickinson and Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be paid a dividend of $1.04 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $4.16 annualized dividend and a dividend yield of 2.37%. Becton, Dickinson and Company’s dividend payout ratio (DPR) is presently 79.39%.

Insider Transactions at Becton, Dickinson and Company

In related news, EVP Michael David Garrison sold 479 shares of the stock in a transaction that occurred on Wednesday, April 9th. The stock was sold at an average price of $197.28, for a total transaction of $94,497.12. Following the completion of the sale, the executive vice president now owns 4,887 shares in the company, valued at $964,107.36. This represents a 8.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Richard Byrd sold 459 shares of the stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $230.00, for a total value of $105,570.00. Following the sale, the executive vice president now owns 6,952 shares of the company’s stock, valued at approximately $1,598,960. The trade was a 6.19% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,878 shares of company stock worth $636,393. 0.36% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Barclays dropped their price target on Becton, Dickinson and Company from $279.00 to $261.00 and set an “overweight” rating on the stock in a research report on Monday, April 7th. Piper Sandler lowered Becton, Dickinson and Company from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $260.00 to $185.00 in a research report on Friday, May 2nd. The Goldman Sachs Group lowered Becton, Dickinson and Company from a “buy” rating to a “neutral” rating and set a $192.00 price target on the stock. in a research report on Friday, May 2nd. William Blair lowered Becton, Dickinson and Company from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 1st. Finally, Wells Fargo & Company lowered Becton, Dickinson and Company from an “overweight” rating to an “equal weight” rating in a research report on Thursday, May 1st. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $231.44.

About Becton, Dickinson and Company

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.