Tower Bridge Advisors Cuts Holdings in Becton, Dickinson and Company (NYSE:BDX)

Tower Bridge Advisors trimmed its holdings in shares of Becton, Dickinson and Company (NYSE:BDX) by 7.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 53,976 shares of the medical instruments supplier’s stock after selling 4,038 shares during the period. Becton, Dickinson and Company makes up about 1.3% of Tower Bridge Advisors’ investment portfolio, making the stock its 19th largest holding. Tower Bridge Advisors’ holdings in Becton, Dickinson and Company were worth $12,246,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Bank of Jackson Hole Trust purchased a new stake in Becton, Dickinson and Company during the 4th quarter valued at $25,000. Sierra Ocean LLC purchased a new stake in Becton, Dickinson and Company during the 4th quarter valued at $29,000. Ashton Thomas Securities LLC purchased a new stake in Becton, Dickinson and Company during the 3rd quarter valued at $33,000. Tompkins Financial Corp boosted its stake in Becton, Dickinson and Company by 44.2% during the 3rd quarter. Tompkins Financial Corp now owns 150 shares of the medical instruments supplier’s stock valued at $36,000 after purchasing an additional 46 shares during the last quarter. Finally, Kennebec Savings Bank purchased a new stake in Becton, Dickinson and Company during the 3rd quarter valued at $46,000. 86.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Becton, Dickinson and Company

In other Becton, Dickinson and Company news, EVP Shana Carol Neal sold 788 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $235.00, for a total transaction of $185,180.00. Following the sale, the executive vice president now directly owns 16,201 shares of the company’s stock, valued at $3,807,235. This trade represents a 4.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David Shan sold 500 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $240.00, for a total value of $120,000.00. Following the sale, the executive vice president now directly owns 5,741 shares in the company, valued at approximately $1,377,840. This represents a 8.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,544 shares of company stock valued at $2,370,309 over the last ninety days. 0.36% of the stock is currently owned by company insiders.

Becton, Dickinson and Company Price Performance

NYSE BDX opened at $225.57 on Friday. The company has a market capitalization of $64.77 billion, a PE ratio of 37.47, a price-to-earnings-growth ratio of 1.63 and a beta of 0.40. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.63 and a current ratio of 1.13. The business’s fifty day moving average is $233.08 and its 200 day moving average is $233.05. Becton, Dickinson and Company has a fifty-two week low of $218.75 and a fifty-two week high of $251.99.

Becton, Dickinson and Company (NYSE:BDX) last released its earnings results on Wednesday, February 5th. The medical instruments supplier reported $3.43 earnings per share for the quarter, beating the consensus estimate 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%. Sell-side analysts predict that Becton, Dickinson and Company will post 14.43 earnings per share for the current year.

Becton, Dickinson and Company announced that its Board of Directors 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. Shares repurchase programs are typically a sign that the company’s management 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, March 31st. Shareholders of record on Monday, March 10th will be issued a dividend of $1.04 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a yield of 1.84%. Becton, Dickinson and Company’s dividend payout ratio is presently 69.10%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on BDX shares. StockNews.com downgraded Becton, Dickinson and Company from a “buy” rating to a “hold” rating in a research note on Tuesday. 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 research note on Tuesday, January 28th. Finally, Barclays raised their price target on Becton, Dickinson and Company from $278.00 to $279.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $278.29.

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.