Citigroup Inc. Cuts Stock Holdings in Becton, Dickinson and Company (NYSE:BDX)

Citigroup Inc. cut its stake in Becton, Dickinson and Company (NYSE:BDX) by 39.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 182,868 shares of the medical instruments supplier’s stock after selling 120,584 shares during the period. Citigroup Inc.’s holdings in Becton, Dickinson and Company were worth $44,089,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of BDX. Charles Schwab Investment Management Inc. lifted its position in shares of Becton, Dickinson and Company by 79.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,986,543 shares of the medical instruments supplier’s stock worth $720,089,000 after purchasing an additional 1,317,723 shares during the last quarter. Cetera Investment Advisers boosted its position in shares of Becton, Dickinson and Company by 380.8% during the 1st quarter. Cetera Investment Advisers now owns 58,923 shares of the medical instruments supplier’s stock worth $14,580,000 after acquiring an additional 46,668 shares in the last quarter. M&G Plc increased its holdings in shares of Becton, Dickinson and Company by 0.9% in the 2nd quarter. M&G Plc now owns 709,259 shares of the medical instruments supplier’s stock valued at $165,967,000 after acquiring an additional 6,052 shares during the last quarter. Benson Investment Management Company Inc. raised its position in shares of Becton, Dickinson and Company by 13.2% during the 3rd quarter. Benson Investment Management Company Inc. now owns 22,315 shares of the medical instruments supplier’s stock worth $5,380,000 after acquiring an additional 2,602 shares in the last quarter. Finally, Swedbank AB lifted its stake in Becton, Dickinson and Company by 1.8% during the third quarter. Swedbank AB now owns 150,838 shares of the medical instruments supplier’s stock worth $36,367,000 after purchasing an additional 2,729 shares during the last quarter. 86.97% of the stock is owned by institutional investors and hedge funds.

Becton, Dickinson and Company Stock Performance

NYSE BDX opened at $224.00 on Monday. The firm has a market cap of $64.74 billion, a P/E ratio of 37.71, a P/E/G ratio of 1.68 and a beta of 0.43. Becton, Dickinson and Company has a 52-week low of $218.75 and a 52-week high of $249.89. The business’s 50-day moving average price is $235.15 and its 200 day moving average price is $234.55. The company has a quick ratio of 0.74, a current ratio of 1.17 and a debt-to-equity ratio of 0.69.

Becton, Dickinson and Company (NYSE:BDX) last announced its earnings results on Thursday, November 7th. The medical instruments supplier reported $3.81 earnings per share for the quarter, beating the consensus estimate of $3.77 by $0.04. Becton, Dickinson and Company had a return on equity of 14.89% and a net margin of 8.55%. The company had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.38 billion. During the same period last year, the business posted $3.42 EPS. The company’s revenue was up 6.9% on a year-over-year basis. On average, equities research analysts expect that Becton, Dickinson and Company will post 14.43 earnings per share for the current year.

Becton, Dickinson and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 9th will be paid a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 1.86%. The ex-dividend date is Monday, December 9th. This is a boost from Becton, Dickinson and Company’s previous quarterly dividend of $0.95. Becton, Dickinson and Company’s dividend payout ratio (DPR) is 63.97%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on BDX shares. Raymond James dropped their price target on shares of Becton, Dickinson and Company from $275.00 to $270.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. StockNews.com upgraded shares of Becton, Dickinson and Company from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Citigroup upgraded shares of Becton, Dickinson and Company from a “neutral” rating to a “buy” rating and upped their price objective for the company from $255.00 to $275.00 in a research note on Tuesday, October 1st. Finally, Evercore ISI lifted their target price on Becton, Dickinson and Company from $286.00 to $290.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $283.00.

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.