Westchester Capital Management Inc. Has $10.29 Million Position in Becton Dickinson and Co (BDX)
Westchester Capital Management Inc. cut its position in shares of Becton Dickinson and Co (NYSE:BDX) by 0.7% during the 3rd quarter, Holdings Channel reports. The firm owned 39,406 shares of the medical instruments supplier’s stock after selling 260 shares during the quarter. Becton Dickinson and makes up approximately 4.1% of Westchester Capital Management Inc.’s holdings, making the stock its 11th largest holding. Westchester Capital Management Inc.’s holdings in Becton Dickinson and were worth $10,285,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in BDX. Fundsmith Equity Fund L.P. purchased a new position in Becton Dickinson and during the second quarter worth about $894,775,000. FMR LLC boosted its holdings in Becton Dickinson and by 13.7% during the second quarter. FMR LLC now owns 16,987,638 shares of the medical instruments supplier’s stock worth $4,069,559,000 after purchasing an additional 2,049,874 shares during the last quarter. Charles Schwab Investment Advisory Inc. purchased a new position in Becton Dickinson and during the second quarter worth about $291,167,000. Vontobel Asset Management Inc. boosted its holdings in Becton Dickinson and by 823.0% during the second quarter. Vontobel Asset Management Inc. now owns 1,013,953 shares of the medical instruments supplier’s stock worth $250,205,000 after purchasing an additional 904,097 shares during the last quarter. Finally, Cornerstone Wealth Management LLC boosted its stake in Becton Dickinson and by 233.6% in the third quarter. Cornerstone Wealth Management LLC now owns 647,786 shares of the medical instruments supplier’s stock valued at $3,286,000 after acquiring an additional 453,623 shares during the last quarter. Institutional investors and hedge funds own 92.60% of the company’s stock.
NYSE BDX opened at $243.26 on Friday. Becton Dickinson and Co has a 12-month low of $209.91 and a 12-month high of $265.87. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.81 and a current ratio of 1.23. The company has a market capitalization of $63.38 billion, a PE ratio of 22.09, a price-to-earnings-growth ratio of 1.46 and a beta of 1.19.
BDX has been the topic of a number of research analyst reports. KeyCorp boosted their target price on shares of Becton Dickinson and from $264.00 to $273.00 and gave the company an “overweight” rating in a research note on Thursday. Wells Fargo & Co boosted their target price on shares of Becton Dickinson and from $275.00 to $290.00 and gave the company an “outperform” rating in a research note on Thursday, September 6th. They noted that the move was a valuation call. Barclays initiated coverage on shares of Becton Dickinson and in a research note on Monday, October 15th. They issued an “equal weight” rating and a $278.00 target price on the stock. Morgan Stanley boosted their target price on shares of Becton Dickinson and from $250.00 to $280.00 and gave the company an “equal weight” rating in a research note on Thursday, October 4th. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $248.00 target price on shares of Becton Dickinson and in a research note on Friday, August 3rd. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $254.07.
In related news, EVP James C. Lim sold 5,189 shares of the company’s stock in a transaction that occurred on Thursday, November 8th. The shares were sold at an average price of $242.36, for a total transaction of $1,257,606.04. Following the sale, the executive vice president now owns 13,318 shares of the company’s stock, valued at approximately $3,227,750.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Timothy M. Ring sold 42,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $237.07, for a total transaction of $9,956,940.00. Following the sale, the director now directly owns 93,688 shares in the company, valued at approximately $22,210,614.16. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.
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About Becton Dickinson and
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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