Tower Bridge Advisors Has $11.32 Million Stock Holdings in Becton, Dickinson and Company (NYSE:BDX)

Tower Bridge Advisors trimmed its stake in shares of Becton, Dickinson and Company (NYSE:BDX) by 8.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,405 shares of the medical instruments supplier’s stock after selling 4,571 shares during the quarter. Becton, Dickinson and Company makes up about 1.3% of Tower Bridge Advisors’ portfolio, making the stock its 22nd largest holding. Tower Bridge Advisors’ holdings in Becton, Dickinson and Company were worth $11,317,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC increased its position in Becton, Dickinson and Company by 98.2% in the 4th quarter. Brighton Jones LLC now owns 1,770 shares of the medical instruments supplier’s stock valued at $401,000 after acquiring an additional 877 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in Becton, Dickinson and Company by 50.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 82,110 shares of the medical instruments supplier’s stock valued at $18,808,000 after acquiring an additional 27,581 shares during the period. Foster Victor Wealth Advisors LLC acquired a new position in Becton, Dickinson and Company in the 1st quarter valued at approximately $6,406,000. GAMMA Investing LLC increased its position in Becton, Dickinson and Company by 29.9% in the 1st quarter. GAMMA Investing LLC now owns 3,250 shares of the medical instruments supplier’s stock valued at $744,000 after acquiring an additional 748 shares during the period. Finally, Ritholtz Wealth Management acquired a new stake in shares of Becton, Dickinson and Company during the first quarter worth $224,000. 86.97% of the stock is currently owned by institutional investors and hedge funds.

Becton, Dickinson and Company Price Performance

BDX opened at $182.41 on Wednesday. Becton, Dickinson and Company has a twelve month low of $163.33 and a twelve month high of $251.99. The company has a market capitalization of $52.28 billion, a price-to-earnings ratio of 34.81, a PEG ratio of 1.38 and a beta of 0.25. The company has a quick ratio of 0.64, a current ratio of 1.13 and a debt-to-equity ratio of 0.70. The firm has a 50-day moving average price of $174.54 and a 200-day moving average price of $201.82.

Becton, Dickinson and Company (NYSE:BDX) last announced its earnings results on Thursday, May 1st. The medical instruments supplier reported $3.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.28 by $0.07. Becton, Dickinson and Company had a net margin of 7.28% and a return on equity of 15.99%. The business had revenue of $5.27 billion during the quarter, compared to analyst estimates of $5.35 billion. During the same period in the previous year, the business posted $3.17 earnings per share. Becton, Dickinson and Company’s revenue for the quarter was up 4.5% on a year-over-year basis. Equities analysts expect that Becton, Dickinson and Company will post 14.43 EPS for the current year.

Becton, Dickinson and Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 8th will be issued a $1.04 dividend. The ex-dividend date is Monday, September 8th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 2.28%. Becton, Dickinson and Company’s payout ratio is 79.39%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Citigroup cut shares of Becton, Dickinson and Company from a “strong-buy” rating to a “hold” rating and decreased their price objective for the stock from $217.00 to $185.00 in a research report on Thursday, May 22nd. Raymond James Financial lowered shares of Becton, Dickinson and Company from an “outperform” rating to a “market perform” rating in a research note on Friday, May 2nd. Barclays cut their target price on shares of Becton, Dickinson and Company from $261.00 to $241.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 3rd. Morgan Stanley cut their target price on shares of Becton, Dickinson and Company from $280.00 to $196.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 6th. Finally, Bank of America lowered shares of Becton, Dickinson and Company from a “buy” rating to a “neutral” rating and set a $190.00 price objective on the stock. in a research note on Thursday, May 1st. Eight equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $219.22.

Insider Buying and Selling

In related news, EVP David Shan sold 1,166 shares of the company’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $171.19, for a total transaction of $199,607.54. Following the completion of the sale, the executive vice president directly owned 4,575 shares in the company, valued at $783,194.25. This represents a 20.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Michael David Garrison sold 1,185 shares of the business’s stock in a transaction on Friday, July 18th. The shares were sold at an average price of $180.29, for a total transaction of $213,643.65. Following the transaction, the executive vice president directly owned 4,887 shares in the company, valued at approximately $881,077.23. The trade was a 19.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.36% of the company’s stock.

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.