Intech Investment Management LLC Sells 52,519 Shares of Becton, Dickinson and Company (NYSE:BDX)

Intech Investment Management LLC cut its position in shares of Becton, Dickinson and Company (NYSE:BDX) by 39.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 81,267 shares of the medical instruments supplier’s stock after selling 52,519 shares during the quarter. Intech Investment Management LLC’s holdings in Becton, Dickinson and Company were worth $18,993,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. ProVise Management Group LLC grew its stake in Becton, Dickinson and Company by 1.7% in the second quarter. ProVise Management Group LLC now owns 37,698 shares of the medical instruments supplier’s stock valued at $8,810,000 after purchasing an additional 637 shares in the last quarter. MQS Management LLC bought a new position in Becton, Dickinson and Company in the second quarter valued at approximately $485,000. Palouse Capital Management Inc. grew its stake in Becton, Dickinson and Company by 23.2% in the second quarter. Palouse Capital Management Inc. now owns 3,061 shares of the medical instruments supplier’s stock valued at $715,000 after purchasing an additional 577 shares in the last quarter. First Eagle Investment Management LLC grew its stake in Becton, Dickinson and Company by 32.5% in the second quarter. First Eagle Investment Management LLC now owns 2,803,255 shares of the medical instruments supplier’s stock valued at $655,149,000 after purchasing an additional 688,296 shares in the last quarter. Finally, Seven Eight Capital LP bought a new position in shares of Becton, Dickinson and Company during the 2nd quarter worth approximately $1,978,000. 86.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BDX. StockNews.com upgraded Becton, Dickinson and Company from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Stifel Nicolaus lifted their price target on Becton, Dickinson and Company from $270.00 to $280.00 and gave the stock a “buy” rating in a report on Friday, July 26th. The Goldman Sachs Group started coverage on Becton, Dickinson and Company in a report on Thursday, May 30th. They set a “buy” rating and a $274.00 price target for the company. Evercore ISI dropped their price target on Becton, Dickinson and Company from $290.00 to $285.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. Finally, Citigroup dropped their price target on Becton, Dickinson and Company from $260.00 to $255.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Becton, Dickinson and Company has an average rating of “Moderate Buy” and an average target price of $279.50.

Becton, Dickinson and Company Price Performance

Shares of NYSE BDX opened at $234.63 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.85 and a quick ratio of 1.36. Becton, Dickinson and Company has a fifty-two week low of $218.75 and a fifty-two week high of $269.52. The stock has a market capitalization of $67.81 billion, a PE ratio of 51.68, a P/E/G ratio of 1.91 and a beta of 0.42. The business has a fifty day moving average price of $235.42 and a two-hundred day moving average price of $235.54.

Becton, Dickinson and Company (NYSE:BDX) last posted its quarterly earnings results on Thursday, August 1st. The medical instruments supplier reported $3.50 EPS for the quarter, topping analysts’ consensus estimates of $3.31 by $0.19. Becton, Dickinson and Company had a return on equity of 14.49% and a net margin of 7.13%. The company had revenue of $4.99 billion during the quarter, compared to analysts’ expectations of $5.08 billion. During the same quarter in the previous year, the firm earned $2.96 EPS. Becton, Dickinson and Company’s revenue was up 2.3% on a year-over-year basis. As a group, equities analysts predict that Becton, Dickinson and Company will post 13.1 earnings per share for the current fiscal year.

Becton, Dickinson and Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be issued a dividend of $0.95 per share. The ex-dividend date is Monday, September 9th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 1.62%. Becton, Dickinson and Company’s dividend payout ratio (DPR) is currently 83.70%.

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.