Westchester Capital Management Inc. Trims Stake in Becton, Dickinson and Company (NYSE:BDX)

Westchester Capital Management Inc. cut its stake in shares of Becton, Dickinson and Company (NYSE:BDX) by 2.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 47,713 shares of the medical instruments supplier’s stock after selling 1,135 shares during the period. Becton, Dickinson and Company makes up 2.7% of Westchester Capital Management Inc.’s investment portfolio, making the stock its 17th biggest holding. Westchester Capital Management Inc.’s holdings in Becton, Dickinson and Company were worth $10,825,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Hopwood Financial Services Inc. acquired a new stake in Becton, Dickinson and Company during the 4th quarter valued at $39,000. Farther Finance Advisors LLC raised its position in Becton, Dickinson and Company by 42.9% in the fourth quarter. Farther Finance Advisors LLC now owns 3,144 shares of the medical instruments supplier’s stock valued at $713,000 after purchasing an additional 944 shares during the period. EverSource Wealth Advisors LLC raised its position in Becton, Dickinson and Company by 63.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,262 shares of the medical instruments supplier’s stock valued at $286,000 after purchasing an additional 491 shares during the period. Moors & Cabot Inc. raised its position in Becton, Dickinson and Company by 5.0% in the fourth quarter. Moors & Cabot Inc. now owns 9,116 shares of the medical instruments supplier’s stock valued at $2,068,000 after purchasing an additional 438 shares during the period. Finally, Natural Investments LLC acquired a new stake in shares of Becton, Dickinson and Company during the fourth quarter valued at about $484,000. 86.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BDX has been the subject of a number of research reports. Piper Sandler lifted their target price on Becton, Dickinson and Company from $275.00 to $280.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. Barclays raised their price objective on shares of 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. Finally, StockNews.com upgraded shares of Becton, Dickinson and Company from a “hold” rating to a “buy” rating in a report on Wednesday, March 5th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $278.29.

Insider Activity at Becton, Dickinson and Company

In related news, EVP Michael David Garrison sold 2,838 shares of the business’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $223.33, for a total transaction of $633,810.54. Following the completion of the transaction, the executive vice president now directly owns 6,141 shares in the company, valued at $1,371,469.53. The trade was a 31.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Bertram L. Scott sold 700 shares of the business’s stock in a transaction dated 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 approximately $8,215,163.67. The trade was a 1.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,423 shares of company stock valued at $1,239,780 over the last 90 days. Insiders own 0.36% of the company’s stock.

Becton, Dickinson and Company Trading Down 1.0 %

Shares of Becton, Dickinson and Company stock opened at $225.15 on Wednesday. The business’s 50 day moving average is $232.96 and its 200-day moving average is $232.57. The stock has a market cap of $64.65 billion, a P/E ratio of 37.40, a P/E/G ratio of 1.63 and a beta of 0.35. The company has a quick ratio of 0.63, a current ratio of 1.13 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.

Becton, Dickinson and Company (NYSE:BDX) last posted its earnings results on Wednesday, February 5th. The medical instruments supplier reported $3.43 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%. Equities research analysts predict that Becton, Dickinson and Company will post 14.43 earnings per share for the current fiscal year.

Becton, Dickinson and Company Dividend Announcement

The business also recently announced 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. The ex-dividend date is Monday, March 10th. This represents a $4.16 annualized dividend and a dividend yield of 1.85%. Becton, Dickinson and Company’s payout ratio is 69.10%.

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 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.