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

Tower Bridge Advisors cut its stake in shares of Becton, Dickinson and Company (NYSE:BDX) by 7.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 53,976 shares of the medical instruments supplier’s stock after selling 4,038 shares during the quarter. Becton, Dickinson and Company accounts for 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of BDX. Bank of Jackson Hole Trust purchased a new stake in Becton, Dickinson and Company during the 4th quarter valued at about $25,000. Sierra Ocean LLC bought a new position in Becton, Dickinson and Company during the 4th quarter valued at approximately $29,000. Ashton Thomas Securities LLC bought a new position in Becton, Dickinson and Company during the 3rd quarter valued at approximately $33,000. Tompkins Financial Corp raised its position 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 bought a new position in Becton, Dickinson and Company during the 3rd quarter valued at approximately $46,000. 86.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Becton, Dickinson and Company

In related news, EVP Roland Goette sold 638 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $219.03, for a total transaction of $139,741.14. Following the completion of the transaction, the executive vice president now owns 14,217 shares of the company’s stock, valued at $3,113,949.51. This trade represents a 4.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Shana Carol Neal sold 788 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $235.00, for a total value of $185,180.00. Following the transaction, the executive vice president now directly owns 16,201 shares of the company’s stock, valued at approximately $3,807,235. This trade represents a 4.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,544 shares of company stock valued at $2,370,309 in the last 90 days. Corporate insiders own 0.36% of the company’s stock.

Becton, Dickinson and Company Stock Up 0.6 %

Shares of NYSE:BDX opened at $225.57 on Friday. Becton, Dickinson and Company has a 52-week low of $218.75 and a 52-week high of $251.99. The firm has a market capitalization of $64.77 billion, a P/E ratio of 37.47, a P/E/G ratio of 1.63 and a beta of 0.40. The stock has a 50 day moving average price of $233.08 and a 200-day moving average price of $233.05. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.63 and a current ratio of 1.13.

Becton, Dickinson and Company (NYSE:BDX) last announced its earnings results on Wednesday, February 5th. The medical instruments supplier reported $3.43 earnings per share (EPS) for the quarter, topping 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%. As a group, equities research analysts anticipate that Becton, Dickinson and Company will post 14.43 EPS for the current fiscal year.

Becton, Dickinson and Company declared that its board has authorized a share buyback plan on Tuesday, January 28th that authorizes the company to buyback 10,000,000 shares. This buyback authorization authorizes the medical instruments supplier to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Becton, Dickinson and Company Dividend Announcement

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

Analyst Ratings Changes

BDX has been the subject of a number of recent analyst reports. Barclays upped their price target on Becton, Dickinson and Company from $278.00 to $279.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Piper Sandler upped their price target on Becton, Dickinson and Company from $275.00 to $280.00 and gave the company an “overweight” rating in a research report on Tuesday, January 28th. Finally, StockNews.com lowered Becton, Dickinson and Company from a “buy” rating to a “hold” rating in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $278.29.

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.