Covington Investment Advisors Inc. bought a new stake in Becton Dickinson (NYSE:BDX) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 13,251 shares of the medical instruments supplier’s stock, valued at approximately $2,871,000.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Bluestein R H & Co. raised its position in shares of Becton Dickinson by 2,247.4% in the first quarter. Bluestein R H & Co. now owns 105,632 shares of the medical instruments supplier’s stock valued at $22,890,000 after buying an additional 101,132 shares during the last quarter. Spinnaker Trust raised its position in shares of Becton Dickinson by 8.9% in the first quarter. Spinnaker Trust now owns 5,316 shares of the medical instruments supplier’s stock valued at $1,151,000 after buying an additional 436 shares during the last quarter. Quadrant Capital Group LLC raised its position in shares of Becton Dickinson by 14.5% in the first quarter. Quadrant Capital Group LLC now owns 11,638 shares of the medical instruments supplier’s stock valued at $2,509,000 after buying an additional 1,473 shares during the last quarter. Peapack Gladstone Financial Corp raised its position in shares of Becton Dickinson by 8.8% in the first quarter. Peapack Gladstone Financial Corp now owns 40,900 shares of the medical instruments supplier’s stock valued at $8,863,000 after buying an additional 3,307 shares during the last quarter. Finally, Providence Capital Advisors LLC raised its position in shares of Becton Dickinson by 4.4% in the first quarter. Providence Capital Advisors LLC now owns 9,387 shares of the medical instruments supplier’s stock valued at $2,034,000 after buying an additional 396 shares during the last quarter. Institutional investors and hedge funds own 84.45% of the company’s stock.
Shares of Becton Dickinson opened at $226.25 on Thursday, Marketbeat Ratings reports. The company has a quick ratio of 1.12, a current ratio of 1.70 and a debt-to-equity ratio of 1.07. The stock has a market cap of $60.26 billion, a price-to-earnings ratio of 23.87, a P/E/G ratio of 1.57 and a beta of 1.15. Becton Dickinson has a 1-year low of $185.33 and a 1-year high of $248.39.
Becton Dickinson (NYSE:BDX) last announced its earnings results on Thursday, May 3rd. The medical instruments supplier reported $2.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.63 by $0.02. The company had revenue of $4.22 billion during the quarter, compared to analyst estimates of $4.12 billion. Becton Dickinson had a negative net margin of 0.46% and a positive return on equity of 14.27%. Becton Dickinson’s revenue was up 42.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.30 earnings per share. equities research analysts anticipate that Becton Dickinson will post 10.99 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 8th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend is Thursday, June 7th. Becton Dickinson’s dividend payout ratio (DPR) is presently 31.65%.
Several research firms recently issued reports on BDX. BMO Capital Markets began coverage on shares of Becton Dickinson in a research report on Monday, March 5th. They set a “market perform” rating and a $249.00 price objective for the company. Citigroup upgraded shares of Becton Dickinson from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $237.00 to $251.00 in a research report on Tuesday, April 10th. Morgan Stanley raised their price objective on shares of Becton Dickinson from $245.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. Zacks Investment Research cut shares of Becton Dickinson from a “buy” rating to a “hold” rating in a research report on Tuesday, March 6th. Finally, Piper Jaffray Companies restated an “overweight” rating and set a $260.00 price objective (up from $223.00) on shares of Becton Dickinson in a research report on Tuesday, February 6th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $241.19.
In related news, Director David F. Melcher bought 500 shares of the stock in a transaction on Monday, May 7th. The stock was bought at an average price of $225.07 per share, with a total value of $112,535.00. Following the completion of the purchase, the director now directly owns 2,728 shares in the company, valued at approximately $613,990.96. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Timothy M. Ring sold 176 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $218.27, for a total transaction of $38,415.52. Following the transaction, the director now directly owns 170,688 shares of the company’s stock, valued at approximately $37,256,069.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 41,784 shares of company stock valued at $9,496,171. 1.00% of the stock is currently owned by insiders.
Becton Dickinson Profile
Becton, Dickinson and Company develops, manufactures, and sells medical supplies, devices, laboratory equipment, and diagnostic products worldwide. It operates in two segments, BD Medical and BD Life Sciences. The BD Medical segment offers syringes, pen needles, and other products for diabetes; needles, syringes, and intravenous catheters for medication delivery; prefilled IV flush syringes; regional anesthesia needles and trays; sharps disposal containers; closed-system transfer devices; skin antiseptic products; surgical and laparoscopic instrumentations; intravenous medication safety and infusion therapy delivery, and automated medication dispensing and supply management systems; medication inventory optimization and tracking systems; and prefillable drug delivery systems.
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