Essex Financial Services Inc. Raises Holdings in Becton, Dickinson and Company (NYSE:BDX)

Essex Financial Services Inc. increased its position in Becton, Dickinson and Company (NYSE:BDX) by 25.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,662 shares of the medical instruments supplier’s stock after purchasing an additional 538 shares during the period. Essex Financial Services Inc.’s holdings in Becton, Dickinson and Company were worth $604,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in BDX. Charles Schwab Investment Management Inc. boosted its holdings in shares of Becton, Dickinson and Company by 79.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,986,543 shares of the medical instruments supplier’s stock valued at $720,089,000 after acquiring an additional 1,317,723 shares during the period. Nordea Investment Management AB boosted its stake in Becton, Dickinson and Company by 31.0% during the 4th quarter. Nordea Investment Management AB now owns 2,844,566 shares of the medical instruments supplier’s stock worth $647,082,000 after purchasing an additional 673,568 shares during the period. Massachusetts Financial Services Co. MA grew its position in Becton, Dickinson and Company by 9.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,365,554 shares of the medical instruments supplier’s stock worth $1,293,635,000 after purchasing an additional 460,440 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in Becton, Dickinson and Company during the 3rd quarter worth $108,243,000. Finally, The Manufacturers Life Insurance Company increased its stake in Becton, Dickinson and Company by 62.2% in the third quarter. The Manufacturers Life Insurance Company now owns 1,107,317 shares of the medical instruments supplier’s stock valued at $266,974,000 after purchasing an additional 424,487 shares during the period. 86.97% of the stock is owned by institutional investors and hedge funds.

Becton, Dickinson and Company Price Performance

Shares of BDX opened at $225.72 on Thursday. The company has a current ratio of 1.13, a quick ratio of 0.74 and a debt-to-equity ratio of 0.69. The stock’s 50 day moving average is $232.36 and its two-hundred day moving average is $233.94. Becton, Dickinson and Company has a twelve month low of $218.75 and a twelve month high of $251.99. The firm has a market capitalization of $65.46 billion, a PE ratio of 37.50, a P/E/G ratio of 1.65 and a beta of 0.40.

Becton, Dickinson and Company (NYSE:BDX) last posted its quarterly earnings results 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 return on equity of 15.74% and a net margin of 8.47%. Research analysts anticipate that Becton, Dickinson and Company will post 14.41 earnings per share for the current year.

Becton, Dickinson and Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a $1.04 dividend. The ex-dividend date is Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.84%. Becton, Dickinson and Company’s dividend payout ratio is presently 69.10%.

Becton, Dickinson and Company declared that its board has authorized a stock buyback plan on Tuesday, January 28th that allows the company to buyback 10,000,000 shares. This buyback authorization allows the medical instruments supplier to repurchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

BDX has been the topic of a number of research reports. Piper Sandler raised their price target on Becton, Dickinson and Company from $275.00 to $280.00 and gave the stock an “overweight” rating in a report on Tuesday, January 28th. StockNews.com raised Becton, Dickinson and Company from a “hold” rating to a “buy” rating in a report on Wednesday. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $283.00.

Insider Activity at Becton, Dickinson and Company

In other Becton, Dickinson and Company news, EVP Roland Goette sold 4,483 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $221.01, for a total value of $990,787.83. Following the sale, the executive vice president now owns 24,345 shares of the company’s stock, valued at approximately $5,380,488.45. This represents a 15.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David Shan sold 500 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $240.00, for a total value of $120,000.00. Following the completion of the transaction, the executive vice president now owns 5,741 shares of the company’s stock, valued at approximately $1,377,840. This represents a 8.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,544 shares of company stock worth $2,370,309 over the last 90 days. Company insiders own 0.36% of the company’s stock.

Becton, Dickinson and 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.