Becton, Dickinson and Company $BDX Stock Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA cut its holdings in shares of Becton, Dickinson and Company (NYSE:BDX) by 5.7% in the 3rd quarter, Holdings Channel reports. The fund owned 120,558 shares of the medical instruments supplier’s stock after selling 7,287 shares during the period. Pictet Asset Management Holding SA’s holdings in Becton, Dickinson and Company were worth $21,580,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of BDX. BlackRock Inc. purchased a new position in Becton, Dickinson and Company in the second quarter valued at about $3,721,533,000. State Street Corp grew its stake in Becton, Dickinson and Company by 8.5% during the 2nd quarter. State Street Corp now owns 15,000,064 shares of the medical instruments supplier’s stock valued at $2,269,960,000 after purchasing an additional 1,177,256 shares in the last quarter. First Eagle Investment Management LLC grew its stake in Becton, Dickinson and Company by 15.8% during the 2nd quarter. First Eagle Investment Management LLC now owns 13,815,335 shares of the medical instruments supplier’s stock valued at $2,090,675,000 after purchasing an additional 1,887,224 shares in the last quarter. Bank of America Corp DE purchased a new stake in Becton, Dickinson and Company during the 2nd quarter worth approximately $474,993,000. Finally, Legal & General Group Plc increased its holdings in Becton, Dickinson and Company by 1.5% during the 2nd quarter. Legal & General Group Plc now owns 2,101,695 shares of the medical instruments supplier’s stock worth $318,050,000 after purchasing an additional 30,766 shares during the last quarter. 86.97% of the stock is owned by hedge funds and other institutional investors.

Becton, Dickinson and Company Stock Up 1.0%

Shares of Becton, Dickinson and Company stock opened at $214.74 on Thursday. The company has a quick ratio of 0.54, a current ratio of 0.87 and a debt-to-equity ratio of 0.54. The firm has a market cap of $59.17 billion, a P/E ratio of 51.87, a P/E/G ratio of 3.56 and a beta of 0.22. Becton, Dickinson and Company has a fifty-two week low of $140.11 and a fifty-two week high of $216.74. The business has a 50-day moving average price of $189.73 and a 200 day moving average price of $170.42.

Becton, Dickinson and Company (NYSE:BDX) last announced its quarterly earnings data on Thursday, November 5th. The medical instruments supplier reported $4.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.07 by $0.08. Becton, Dickinson and Company had a return on equity of 14.90% and a net margin of 5.66%. The firm had revenue of $5.27 billion for the quarter, compared to analysts’ expectations of $5.11 billion. During the same quarter in the prior year, the firm posted $3.96 earnings per share. Becton, Dickinson and Company’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, sell-side analysts forecast that Becton, Dickinson and Company will post 13.21 earnings per share for the current fiscal year.

Becton, Dickinson and Company declared that its board has initiated a share buyback program on Thursday, November 5th that allows the company to buy back 10,000,000 shares. This repurchase authorization allows the medical instruments supplier to reacquire up to 3.6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Becton, Dickinson and Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Thursday, December 10th will be given a dividend of $1.06 per share. The ex-dividend date of this dividend is Thursday, December 10th. This represents a $4.24 annualized dividend and a dividend yield of 2.0%. This is an increase from Becton, Dickinson and Company’s previous quarterly dividend of $1.05. Becton, Dickinson and Company’s dividend payout ratio is currently 101.45%.

Insider Buying and Selling at Becton, Dickinson and Company

In other Becton, Dickinson and Company news, EVP Michael Feld sold 165 shares of the business’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $188.49, for a total transaction of $31,100.85. Following the completion of the sale, the executive vice president owned 19,720 shares in the company, valued at $3,717,022.80. The trade was a 0.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Thomas E. Polen, Jr. sold 2,993 shares of the business’s stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $210.00, for a total transaction of $628,530.00. Following the sale, the chief executive officer owned 110,163 shares of the company’s stock, valued at approximately $23,134,230. The trade was a 2.65% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 3,310 shares of company stock worth $688,650 over the last 90 days. 0.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Weiss Ratings raised Becton, Dickinson and Company from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, November 4th. Bank of America raised their price target on shares of Becton, Dickinson and Company from $185.00 to $200.00 and gave the stock a “neutral” rating in a research report on Monday, August 31st. UBS Group began coverage on shares of Becton, Dickinson and Company in a research note on Tuesday, July 28th. They issued a “buy” rating and a $190.00 price target for the company. Jefferies Financial Group reaffirmed a “buy” rating and issued a $242.00 price target on shares of Becton, Dickinson and Company in a report on Thursday, November 5th. Finally, Zacks Research upgraded shares of Becton, Dickinson and Company from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $197.47.

Becton, Dickinson and Company Company Profile

Becton, Dickinson and Company, commonly known as BD, is a global medical technology company that develops and manufactures products used in healthcare, clinical laboratories and life sciences research. Founded in 1897, the company has a long history of producing medical devices and supplies. BD’s products include syringes, needles, infusion systems and medication-management technologies, as well as equipment and supplies for collecting and processing clinical specimens. The company also provides diagnostic systems, laboratory instruments and tools used in areas such as cell analysis and biomedical research.