Norges Bank Buys New Holdings in Becton, Dickinson and Company $BDX

Norges Bank purchased a new position in Becton, Dickinson and Company (NYSE:BDX) during the second quarter, HoldingsChannel reports. The fund purchased 3,793,193 shares of the medical instruments supplier’s stock, valued at approximately $653,377,000.

A number of other institutional investors have also added to or reduced their stakes in BDX. Quadrature Capital Ltd purchased a new position in shares of Becton, Dickinson and Company in the second quarter worth $7,299,000. Patrick M Sweeney & Associates Inc. grew its stake in Becton, Dickinson and Company by 10.8% during the second quarter. Patrick M Sweeney & Associates Inc. now owns 1,307 shares of the medical instruments supplier’s stock valued at $230,000 after acquiring an additional 127 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Becton, Dickinson and Company by 9.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 15,402 shares of the medical instruments supplier’s stock valued at $2,653,000 after acquiring an additional 1,266 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC purchased a new stake in Becton, Dickinson and Company in the 2nd quarter worth $965,000. Finally, Clarkston Capital Partners LLC lifted its stake in Becton, Dickinson and Company by 238.5% in the 2nd quarter. Clarkston Capital Partners LLC now owns 296,743 shares of the medical instruments supplier’s stock worth $51,114,000 after purchasing an additional 209,079 shares in the last quarter. 86.97% of the stock is owned by hedge funds and other institutional investors.

Becton, Dickinson and Company Price Performance

NYSE:BDX opened at $194.00 on Friday. The firm has a market capitalization of $55.37 billion, a price-to-earnings ratio of 34.89, a PEG ratio of 1.42 and a beta of 0.25. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.10 and a quick ratio of 0.62. The business has a 50 day simple moving average of $187.49 and a 200-day simple moving average of $183.14. Becton, Dickinson and Company has a 1 year low of $162.29 and a 1 year high of $251.99.

Becton, Dickinson and Company (NYSE:BDX) last released its earnings results on Thursday, April 14th. The medical instruments supplier reported $4.10 earnings per share for the quarter. The firm had revenue of $5.32 billion for the quarter. Becton, Dickinson and Company had a return on equity of 16.23% and a net margin of 7.51%. Equities analysts forecast that Becton, Dickinson and Company will post 14.43 EPS for the current year.

Becton, Dickinson and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 8th will be paid a $1.05 dividend. This is an increase from Becton, Dickinson and Company’s previous quarterly dividend of $1.04. This represents a $4.20 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Monday, December 8th. Becton, Dickinson and Company’s payout ratio is currently 72.04%.

Insider Activity

In other news, Director Claire Fraser sold 917 shares of the firm’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $187.50, for a total value of $171,937.50. Following the completion of the sale, the director owned 22,226 shares in the company, valued at approximately $4,167,375. This trade represents a 3.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bertram L. Scott sold 217 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $176.58, for a total transaction of $38,317.86. Following the transaction, the director owned 35,816 shares in the company, valued at $6,324,389.28. The trade was a 0.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,249 shares of company stock valued at $231,358 in the last 90 days. Company insiders own 0.36% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on BDX shares. Royal Bank Of Canada cut their price objective on Becton, Dickinson and Company from $211.00 to $202.00 and set a “sector perform” rating for the company in a research report on Friday, November 7th. Weiss Ratings reissued a “hold (c-)” rating on shares of Becton, Dickinson and Company in a research note on Wednesday, October 8th. Morgan Stanley lifted their price objective on Becton, Dickinson and Company from $196.00 to $197.00 and gave the stock an “overweight” rating in a research note on Monday, August 11th. Argus upped their price objective on Becton, Dickinson and Company from $220.00 to $230.00 in a report on Monday, September 15th. Finally, Piper Sandler cut their target price on shares of Becton, Dickinson and Company from $200.00 to $190.00 and set a “neutral” rating for the company in a report on Friday, November 7th. Three research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Becton, Dickinson and Company presently has a consensus rating of “Hold” and an average price target of $203.27.

Becton, Dickinson and 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.