State of Wyoming Makes New Investment in Becton, Dickinson and Company (NYSE:BDX)

State of Wyoming acquired a new stake in shares of Becton, Dickinson and Company (NYSE:BDX) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,813 shares of the medical instruments supplier’s stock, valued at approximately $411,000.

Several other institutional investors have also recently made changes to their positions in BDX. Norges Bank bought a new position in shares of Becton, Dickinson and Company in the fourth quarter valued at $735,523,000. T. Rowe Price Investment Management Inc. increased its position in shares of Becton, Dickinson and Company by 36.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 12,126,707 shares of the medical instruments supplier’s stock worth $2,751,187,000 after acquiring an additional 3,219,317 shares in the last quarter. Kovitz Investment Group Partners LLC raised its holdings in shares of Becton, Dickinson and Company by 392.4% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 3,416,665 shares of the medical instruments supplier’s stock worth $775,139,000 after acquiring an additional 2,722,829 shares during the last quarter. First Eagle Investment Management LLC lifted its position in Becton, Dickinson and Company by 31.4% in the 4th quarter. First Eagle Investment Management LLC now owns 4,426,022 shares of the medical instruments supplier’s stock valued at $1,004,132,000 after acquiring an additional 1,057,879 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in Becton, Dickinson and Company by 15.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 6,175,899 shares of the medical instruments supplier’s stock valued at $1,401,126,000 after purchasing an additional 810,345 shares during the last quarter. Institutional investors and hedge funds own 86.97% of the company’s stock.

Becton, Dickinson and Company Price Performance

Shares of NYSE:BDX opened at $176.72 on Wednesday. The company has a market capitalization of $50.65 billion, a P/E ratio of 29.36, a price-to-earnings-growth ratio of 1.63 and a beta of 0.31. The company’s 50-day moving average is $201.75 and its 200 day moving average is $220.01. 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 has a fifty-two week low of $163.33 and a fifty-two week high of $251.99.

Becton, Dickinson and Company (NYSE:BDX) last announced its quarterly earnings data on Thursday, May 1st. The medical instruments supplier reported $3.35 EPS for the quarter, topping the consensus estimate of $3.28 by $0.07. Becton, Dickinson and Company had a net margin of 8.47% and a return on equity of 15.74%. The business had revenue of $5.27 billion for the quarter, compared to analyst estimates of $5.35 billion. During the same quarter in the previous year, the firm posted $3.17 earnings per share. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, equities research analysts forecast 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 initiated a stock buyback program on Tuesday, January 28th that permits the company to repurchase 10,000,000 outstanding shares. This repurchase authorization permits the medical instruments supplier to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Becton, Dickinson and Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be given a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 2.35%. The ex-dividend date is Monday, June 9th. Becton, Dickinson and Company’s dividend payout ratio (DPR) is currently 79.39%.

Insider Activity at Becton, Dickinson and Company

In other news, EVP Richard Byrd sold 459 shares of the stock in a transaction dated 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 directly owns 6,952 shares of the company’s stock, valued at approximately $1,598,960. This represents a 6.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Michael David Garrison sold 479 shares of the firm’s stock in a transaction that occurred on Wednesday, April 9th. The shares were sold at an average price of $197.28, for a total transaction of $94,497.12. Following the completion of the transaction, the executive vice president now owns 4,887 shares of the company’s stock, valued at $964,107.36. This trade represents a 8.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have 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

BDX has been the subject of several analyst reports. Morgan Stanley lowered their price objective on Becton, Dickinson and Company from $280.00 to $196.00 and set an “overweight” rating for the company in a research note on Tuesday, May 6th. Piper Sandler lowered Becton, Dickinson and Company from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $260.00 to $185.00 in a research report on Friday, May 2nd. Raymond James cut Becton, Dickinson and Company from an “outperform” rating to a “market perform” rating in a research note on Friday, May 2nd. Barclays cut their price objective on shares of Becton, Dickinson and Company from $279.00 to $261.00 and set an “overweight” rating on the stock in a report on Monday, April 7th. Finally, William Blair downgraded shares of Becton, Dickinson and Company from an “outperform” rating to a “market perform” rating in a report on Thursday, May 1st. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $231.44.

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.