Diamond Hill Capital Management Inc. Purchases 348,335 Shares of Becton, Dickinson and Company (NYSE:BDX)

Diamond Hill Capital Management Inc. raised its stake in shares of Becton, Dickinson and Company (NYSE:BDX) by 24.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,782,894 shares of the medical instruments supplier’s stock after purchasing an additional 348,335 shares during the quarter. Becton, Dickinson and Company comprises 1.8% of Diamond Hill Capital Management Inc.’s holdings, making the stock its 19th biggest position. Diamond Hill Capital Management Inc.’s holdings in Becton, Dickinson and Company were worth $404,485,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of BDX. Bank of Jackson Hole Trust acquired a new position in Becton, Dickinson and Company during the 4th quarter valued at approximately $25,000. Sierra Ocean LLC acquired a new position in Becton, Dickinson and Company during the 4th quarter valued at approximately $29,000. Ashton Thomas Securities LLC acquired a new position in Becton, Dickinson and Company during the 3rd quarter valued at approximately $33,000. Hopwood Financial Services Inc. acquired a new position in Becton, Dickinson and Company during the 4th quarter valued at approximately $39,000. Finally, Versant Capital Management Inc increased its stake in Becton, Dickinson and Company by 54.1% during the 4th quarter. Versant Capital Management Inc now owns 208 shares of the medical instruments supplier’s stock valued at $47,000 after purchasing an additional 73 shares in the last quarter. Institutional investors and hedge funds own 86.97% of the company’s stock.

Insider Activity at Becton, Dickinson and Company

In related news, EVP Shana Carol Neal sold 788 shares of the firm’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $235.00, for a total transaction of $185,180.00. Following the sale, the executive vice president now owns 16,201 shares in the company, valued at approximately $3,807,235. This trade represents a 4.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael David Garrison sold 2,838 shares of the firm’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $223.33, for a total transaction of $633,810.54. Following the sale, the executive vice president now owns 6,141 shares in the company, valued at approximately $1,371,469.53. This represents a 31.61 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,363 shares of company stock worth $1,676,105. 0.36% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Barclays upped their price target on shares of Becton, Dickinson and Company from $278.00 to $279.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. StockNews.com upgraded shares of Becton, Dickinson and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, March 5th. Finally, Piper Sandler raised their target price on shares of Becton, Dickinson and Company from $275.00 to $280.00 and gave the stock an “overweight” rating in a report on Tuesday, January 28th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $278.29.

Becton, Dickinson and Company Trading Down 0.5 %

Shares of Becton, Dickinson and Company stock opened at $222.65 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.13 and a quick ratio of 0.63. The firm has a fifty day moving average price of $232.82 and a 200 day moving average price of $232.44. Becton, Dickinson and Company has a 1 year low of $218.75 and a 1 year high of $251.99. The stock has a market cap of $63.93 billion, a PE ratio of 36.99, a price-to-earnings-growth ratio of 1.63 and a beta of 0.35.

Becton, Dickinson and Company (NYSE:BDX) last issued 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 net margin of 8.47% and a return on equity of 15.74%. Equities research analysts predict that Becton, Dickinson and Company will post 14.43 earnings per share for the current year.

Becton, Dickinson and Company announced that its Board of Directors has initiated a stock buyback plan on Tuesday, January 28th that authorizes the company to repurchase 10,000,000 outstanding shares. This repurchase authorization authorizes the medical instruments supplier to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Becton, Dickinson and Company Dividend Announcement

The company also recently declared 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 yield of 1.87%. Becton, Dickinson and Company’s dividend payout ratio is presently 69.10%.

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.