Industrial Alliance Investment Management Inc. Sells 1,653 Shares of Becton, Dickinson and Company (NYSE:BDX)

Industrial Alliance Investment Management Inc. cut its position in shares of Becton, Dickinson and Company (NYSE:BDX) by 83.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 336 shares of the medical instruments supplier’s stock after selling 1,653 shares during the period. Becton, Dickinson and Company comprises 0.0% of Industrial Alliance Investment Management Inc.’s portfolio, making the stock its 29th biggest position. Industrial Alliance Investment Management Inc.’s holdings in Becton, Dickinson and Company were worth $79,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Norges Bank bought a new position in Becton, Dickinson and Company during the 4th quarter worth about $761,798,000. Nordea Investment Management AB lifted its position in shares of Becton, Dickinson and Company by 277.3% in the 1st quarter. Nordea Investment Management AB now owns 1,936,654 shares of the medical instruments supplier’s stock worth $478,295,000 after purchasing an additional 1,423,353 shares during the period. PineStone Asset Management Inc. boosted its stake in shares of Becton, Dickinson and Company by 141.6% during the second quarter. PineStone Asset Management Inc. now owns 1,345,873 shares of the medical instruments supplier’s stock valued at $314,544,000 after purchasing an additional 788,735 shares in the last quarter. M&G Plc purchased a new position in Becton, Dickinson and Company during the first quarter valued at approximately $173,692,000. Finally, Bank of New York Mellon Corp raised its stake in Becton, Dickinson and Company by 8.5% in the second quarter. Bank of New York Mellon Corp now owns 4,412,163 shares of the medical instruments supplier’s stock worth $1,031,167,000 after buying an additional 346,720 shares in the last quarter. 86.97% of the stock is currently owned by hedge funds and other institutional investors.

Becton, Dickinson and Company Stock Performance

Shares of Becton, Dickinson and Company stock traded up $1.37 during midday trading on Friday, hitting $242.34. The company had a trading volume of 893,412 shares, compared to its average volume of 1,416,639. The company has a fifty day simple moving average of $233.57 and a 200 day simple moving average of $236.06. The stock has a market cap of $70.04 billion, a price-to-earnings ratio of 53.39, a PEG ratio of 2.06 and a beta of 0.42. The company has a quick ratio of 0.97, a current ratio of 1.85 and a debt-to-equity ratio of 0.70. Becton, Dickinson and Company has a 12-month low of $218.75 and a 12-month high of $283.50.

Becton, Dickinson and Company (NYSE:BDX) last posted its quarterly earnings results on Thursday, August 1st. The medical instruments supplier reported $3.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.31 by $0.19. The business had revenue of $4.99 billion during the quarter, compared to analysts’ expectations of $5.08 billion. Becton, Dickinson and Company had a net margin of 7.13% and a return on equity of 14.49%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the company posted $2.96 earnings per share. As a group, analysts predict that Becton, Dickinson and Company will post 13.06 earnings per share for the current fiscal year.

Becton, Dickinson and Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be paid a dividend of $0.95 per share. The ex-dividend date is Monday, September 9th. This represents a $3.80 annualized dividend and a yield of 1.57%. Becton, Dickinson and Company’s payout ratio is presently 83.70%.

Insider Activity

In related news, SVP Thomas J. Spoerel sold 300 shares of Becton, Dickinson and Company stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $239.31, for a total transaction of $71,793.00. Following the completion of the sale, the senior vice president now owns 1,976 shares of the company’s stock, valued at $472,876.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on BDX. Barclays increased their target price on Becton, Dickinson and Company from $305.00 to $312.00 and gave the company an “overweight” rating in a research report on Monday, May 6th. Stifel Nicolaus lifted their target price on Becton, Dickinson and Company from $270.00 to $280.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Evercore ISI decreased their price target on shares of Becton, Dickinson and Company from $290.00 to $285.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. The Goldman Sachs Group began coverage on shares of Becton, Dickinson and Company in a report on Thursday, May 30th. They issued a “buy” rating and a $274.00 price target on the stock. Finally, Raymond James reduced their price objective on shares of Becton, Dickinson and Company from $275.00 to $270.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Becton, Dickinson and Company currently has an average rating of “Moderate Buy” and a consensus price target of $279.50.

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.