Teacher Retirement System of Texas cut its stake in shares of Becton, Dickinson and Company (NYSE:BDX) by 13.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 46,313 shares of the medical instruments supplier’s stock after selling 7,174 shares during the quarter. Teacher Retirement System of Texas’ holdings in Becton, Dickinson and were worth $11,385,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of BDX. Viridian Ria LLC bought a new position in shares of Becton, Dickinson and during the third quarter valued at $25,000. Focused Wealth Management Inc raised its holdings in shares of Becton, Dickinson and by 101.7% in the third quarter. Focused Wealth Management Inc now owns 100 shares of the medical instruments supplier’s stock valued at $25,000 after buying an additional 6,000 shares during the last quarter. Penserra Capital Management LLC bought a new position in shares of Becton, Dickinson and in the second quarter valued at about $34,000. Leelyn Smith LLC bought a new position in shares of Becton, Dickinson and in the second quarter valued at about $34,000. Finally, Mascoma Wealth Management LLC bought a new position in shares of Becton, Dickinson and in the third quarter valued at about $34,000. 83.98% of the stock is owned by institutional investors.
In other news, VP Thomas J. Spoerel sold 233 shares of the company’s stock in a transaction that occurred on Tuesday, December 7th. The stock was sold at an average price of $250.00, for a total transaction of $58,250.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Betty D. Larson sold 3,341 shares of the company’s stock in a transaction that occurred on Thursday, December 16th. The stock was sold at an average price of $255.00, for a total value of $851,955.00. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.
Becton, Dickinson and (NYSE:BDX) last released its earnings results on Thursday, November 4th. The medical instruments supplier reported $2.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.45 by $0.14. The firm had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $4.91 billion. Becton, Dickinson and had a return on equity of 15.97% and a net margin of 10.22%. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.79 EPS. On average, equities research analysts forecast that Becton, Dickinson and Company will post 12.41 EPS for the current year.
Becton, Dickinson and announced that its board has authorized a share repurchase plan on Thursday, November 4th that allows the company to repurchase 10,000,000 outstanding shares. This repurchase authorization allows the medical instruments supplier to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
The company also recently announced a quarterly dividend, which was paid on Friday, December 31st. Shareholders of record on Friday, December 10th were paid a $0.87 dividend. This is a boost from Becton, Dickinson and’s previous quarterly dividend of $0.83. The ex-dividend date was Thursday, December 9th. This represents a $3.48 annualized dividend and a yield of 1.33%. Becton, Dickinson and’s payout ratio is presently 50.80%.
A number of research analysts recently issued reports on the company. Morgan Stanley lifted their price target on Becton, Dickinson and from $285.00 to $300.00 and gave the company an “overweight” rating in a report on Friday, January 7th. Piper Sandler cut Becton, Dickinson and from an “overweight” rating to a “neutral” rating and cut their price target for the company from $285.00 to $260.00 in a report on Wednesday, December 8th. SVB Leerink reiterated a “market perform” rating on shares of Becton, Dickinson and in a research report on Friday, October 22nd. Finally, Zacks Investment Research upgraded Becton, Dickinson and from a “hold” rating to a “buy” rating and set a $250.00 price objective for the company in a research report on Tuesday, October 19th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $269.63.
Becton, Dickinson and Company Profile
Becton, Dickinson & Co is a medical technology company. The firm engages in the development, manufacture, and sale of medical supplies, devices, laboratory equipment and diagnostic products used by healthcare institutions, physicians, life science researchers, clinical laboratories, the pharmaceutical industry, and the general public.
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