Becton, Dickinson and Company $BDX Stake Boosted by Fifth Third Bancorp

Fifth Third Bancorp grew its position in shares of Becton, Dickinson and Company (NYSE:BDX) by 13.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 119,395 shares of the medical instruments supplier’s stock after acquiring an additional 14,579 shares during the quarter. Fifth Third Bancorp’s holdings in Becton, Dickinson and Company were worth $21,372,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. TD Waterhouse Canada Inc. raised its stake in shares of Becton, Dickinson and Company by 17.1% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 96,211 shares of the medical instruments supplier’s stock valued at $14,715,000 after purchasing an additional 14,077 shares during the period. Northside Capital Management LLC lifted its holdings in Becton, Dickinson and Company by 18.3% during the 2nd quarter. Northside Capital Management LLC now owns 61,324 shares of the medical instruments supplier’s stock worth $9,280,000 after purchasing an additional 9,494 shares in the last quarter. Capital Analysts LLC boosted its stake in Becton, Dickinson and Company by 7.5% in the 2nd quarter. Capital Analysts LLC now owns 83,601 shares of the medical instruments supplier’s stock worth $12,651,000 after purchasing an additional 5,828 shares during the period. NewEdge Advisors LLC boosted its stake in Becton, Dickinson and Company by 35.0% in the 1st quarter. NewEdge Advisors LLC now owns 44,032 shares of the medical instruments supplier’s stock worth $6,923,000 after purchasing an additional 11,414 shares during the period. Finally, Beverly Hills Private Wealth LLC purchased a new position in Becton, Dickinson and Company during the 2nd quarter valued at about $3,353,000. Institutional investors own 86.97% of the company’s stock.

Becton, Dickinson and Company Price Performance

BDX stock opened at $217.95 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.87 and a quick ratio of 0.54. Becton, Dickinson and Company has a one year low of $140.11 and a one year high of $219.78. The stock has a market cap of $60.05 billion, a PE ratio of 52.64, a P/E/G ratio of 3.61 and a beta of 0.22. The firm has a 50 day simple moving average of $190.90 and a two-hundred day simple moving average of $170.56.

Becton, Dickinson and Company (NYSE:BDX) last posted its quarterly earnings data on Thursday, November 5th. The medical instruments supplier reported $4.15 earnings per share for the quarter, beating the consensus estimate of $4.07 by $0.08. Becton, Dickinson and Company had a net margin of 5.66% and a return on equity of 14.90%. The firm had revenue of $5.27 billion for the quarter, compared to analysts’ expectations of $5.11 billion. During the same quarter last year, the company posted $3.96 EPS. The business’s quarterly revenue was up 5.4% on a year-over-year basis. On average, analysts predict that Becton, Dickinson and Company will post 13.21 EPS for the current fiscal year.

Becton, Dickinson and Company announced that its board has initiated a stock repurchase plan on Thursday, November 5th that allows the company to repurchase 10,000,000 shares. This buyback authorization allows the medical instruments supplier to buy up to 3.6% of its shares through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

Becton, Dickinson and Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Thursday, December 10th will be given a dividend of $1.06 per share. The ex-dividend date is Thursday, December 10th. This is an increase from Becton, Dickinson and Company’s previous quarterly dividend of $1.05. This represents a $4.24 dividend on an annualized basis and a yield of 1.9%. Becton, Dickinson and Company’s dividend payout ratio (DPR) is 101.45%.

Insider Buying and Selling

In other news, EVP Michael Feld sold 165 shares of the company’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $188.49, for a total value of $31,100.85. Following the completion of the sale, the executive vice president owned 19,720 shares of the company’s stock, valued at approximately $3,717,022.80. This represents a 0.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Thomas E. Polen, Jr. sold 2,993 shares of the stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $210.00, for a total transaction of $628,530.00. Following the transaction, the chief executive officer directly owned 110,163 shares in the company, valued at approximately $23,134,230. This represents a 2.65% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 3,310 shares of company stock worth $688,650 over the last quarter. Company insiders own 0.40% of the company’s stock.

Analyst Ratings Changes

BDX has been the topic of several analyst reports. Bank of America upped their price target on Becton, Dickinson and Company from $185.00 to $200.00 and gave the company a “neutral” rating in a research report on Monday, August 31st. TD Cowen boosted their price objective on shares of Becton, Dickinson and Company from $163.00 to $182.00 and gave the company a “hold” rating in a research note on Wednesday, August 5th. Citigroup upped their target price on shares of Becton, Dickinson and Company from $208.00 to $241.00 and gave the stock a “buy” rating in a report on Friday, November 6th. Wolfe Research started coverage on shares of Becton, Dickinson and Company in a research note on Tuesday, October 20th. They issued an “outperform” rating on the stock. Finally, UBS Group initiated coverage on shares of Becton, Dickinson and Company in a report on Tuesday, July 28th. They issued a “buy” rating and a $190.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Becton, Dickinson and Company presently has a consensus rating of “Moderate Buy” and an average price target of $197.47.

Becton, Dickinson and Company Company Profile

Becton, Dickinson and Company, commonly known as BD, is a global medical technology company that develops and manufactures products used in healthcare, clinical laboratories and life sciences research. Founded in 1897, the company has a long history of producing medical devices and supplies. BD’s products include syringes, needles, infusion systems and medication-management technologies, as well as equipment and supplies for collecting and processing clinical specimens. The company also provides diagnostic systems, laboratory instruments and tools used in areas such as cell analysis and biomedical research.