New York State Teachers Retirement System Reduces Stock Position in Becton, Dickinson and Company (NYSE:BDX)

New York State Teachers Retirement System cut its stake in Becton, Dickinson and Company (NYSE:BDX) by 4.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 224,712 shares of the medical instruments supplier’s stock after selling 10,176 shares during the period. New York State Teachers Retirement System’s holdings in Becton, Dickinson and Company were worth $50,980,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in BDX. Asset Management One Co. Ltd. grew its position in Becton, Dickinson and Company by 4.8% in the fourth quarter. Asset Management One Co. Ltd. now owns 135,558 shares of the medical instruments supplier’s stock worth $30,974,000 after acquiring an additional 6,265 shares during the period. SFE Investment Counsel grew its position in Becton, Dickinson and Company by 2.7% in the fourth quarter. SFE Investment Counsel now owns 22,820 shares of the medical instruments supplier’s stock worth $5,177,000 after acquiring an additional 598 shares during the period. Phraction Management LLC grew its position in Becton, Dickinson and Company by 7.2% in the fourth quarter. Phraction Management LLC now owns 47,021 shares of the medical instruments supplier’s stock worth $10,668,000 after acquiring an additional 3,138 shares during the period. Van ECK Associates Corp grew its position in Becton, Dickinson and Company by 3.1% in the fourth quarter. Van ECK Associates Corp now owns 14,738 shares of the medical instruments supplier’s stock worth $3,344,000 after acquiring an additional 450 shares during the period. Finally, Louisbourg Investments Inc. grew its position in Becton, Dickinson and Company by 12.5% in the fourth quarter. Louisbourg Investments Inc. now owns 34,765 shares of the medical instruments supplier’s stock worth $7,887,000 after acquiring an additional 3,855 shares during the period. 86.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on BDX. Barclays increased their price objective on Becton, Dickinson and Company from $278.00 to $279.00 and gave the stock an “overweight” rating in a research report on Friday. StockNews.com upgraded Becton, Dickinson and Company from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, Piper Sandler upped 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. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Becton, Dickinson and Company has an average rating of “Buy” and a consensus price target of $278.29.

Insider Activity

In related news, Director Bertram L. Scott sold 700 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $227.99, for a total value of $159,593.00. Following the transaction, the director now owns 36,033 shares of the company’s stock, valued at $8,215,163.67. This represents a 1.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP David Shan sold 500 shares of the 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 directly owns 5,741 shares in the company, valued at $1,377,840. This trade represents a 8.01 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,544 shares of company stock worth $2,370,309. Corporate insiders own 0.36% of the company’s stock.

Becton, Dickinson and Company Stock Down 0.1 %

Shares of NYSE BDX opened at $224.89 on Friday. The stock has a market cap of $65.22 billion, a P/E ratio of 37.36, a PEG ratio of 1.65 and a beta of 0.40. The company has a current ratio of 1.13, a quick ratio of 0.74 and a debt-to-equity ratio of 0.69. Becton, Dickinson and Company has a 12-month low of $218.75 and a 12-month high of $251.99. The business’s fifty day simple moving average is $232.50 and its 200-day simple moving average is $233.82.

Becton, Dickinson and Company (NYSE:BDX) last announced its quarterly earnings data on Wednesday, February 5th. The medical instruments supplier reported $3.43 earnings per share (EPS) 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%. As a group, equities analysts predict that Becton, Dickinson and Company will post 14.41 EPS for the current fiscal year.

Becton, Dickinson and Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend is Monday, March 10th. Becton, Dickinson and Company’s payout ratio is currently 69.10%.

Becton, Dickinson and Company declared that its Board of Directors has initiated a stock repurchase program on Tuesday, January 28th that permits the company to buyback 10,000,000 outstanding shares. This buyback authorization permits the medical instruments supplier to reacquire shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

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.