SeaBridge Investment Advisors LLC Lowers Position in Becton, Dickinson and Company (NYSE:BDX)

SeaBridge Investment Advisors LLC trimmed its stake in Becton, Dickinson and Company (NYSE:BDX) by 1.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,962 shares of the medical instruments supplier’s stock after selling 201 shares during the quarter. Becton, Dickinson and comprises 1.3% of SeaBridge Investment Advisors LLC’s portfolio, making the stock its 23rd largest position. SeaBridge Investment Advisors LLC’s holdings in Becton, Dickinson and were worth $3,882,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in BDX. Parnassus Investments CA grew its holdings in Becton, Dickinson and by 38.2% in the second quarter. Parnassus Investments CA now owns 4,451,463 shares of the medical instruments supplier’s stock valued at $1,082,551,000 after purchasing an additional 1,230,202 shares during the period. First Eagle Investment Management LLC lifted its position in Becton, Dickinson and by 410.0% during the first quarter. First Eagle Investment Management LLC now owns 1,288,614 shares of the medical instruments supplier’s stock valued at $313,326,000 after buying an additional 1,035,956 shares in the last quarter. Ninety One UK Ltd lifted its position in Becton, Dickinson and by 38.7% during the first quarter. Ninety One UK Ltd now owns 2,333,289 shares of the medical instruments supplier’s stock valued at $567,339,000 after buying an additional 651,510 shares in the last quarter. Renaissance Technologies LLC lifted its position in Becton, Dickinson and by 454.9% during the first quarter. Renaissance Technologies LLC now owns 703,591 shares of the medical instruments supplier’s stock valued at $171,078,000 after buying an additional 576,800 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Becton, Dickinson and by 16.4% during the first quarter. JPMorgan Chase & Co. now owns 3,774,439 shares of the medical instruments supplier’s stock valued at $917,753,000 after buying an additional 532,999 shares in the last quarter. Hedge funds and other institutional investors own 84.25% of the company’s stock.

A number of research analysts have weighed in on BDX shares. Zacks Investment Research raised shares of Becton, Dickinson and from a “sell” rating to a “hold” rating and set a $262.00 price target on the stock in a research report on Tuesday, August 17th. SVB Leerink reduced their price target on shares of Becton, Dickinson and from $260.00 to $250.00 and set a “market perform” rating on the stock in a research report on Friday, August 6th. Barclays started coverage on shares of Becton, Dickinson and in a research report on Monday, May 24th. They set an “equal weight” rating and a $270.00 price target on the stock. Finally, JPMorgan Chase & Co. cut shares of Becton, Dickinson and from an “overweight” rating to a “neutral” rating and cut their price target for the company from $276.93 to $265.00 in a report on Friday, August 6th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $272.33.

BDX stock traded up $2.17 during trading on Wednesday, hitting $262.62. 13,201 shares of the company’s stock traded hands, compared to its average volume of 1,353,387. The company has a quick ratio of 0.85, a current ratio of 1.23 and a debt-to-equity ratio of 0.65. Becton, Dickinson and Company has a 52 week low of $219.50 and a 52 week high of $267.37. The stock has a fifty day moving average price of $250.72 and a two-hundred day moving average price of $246.91. The stock has a market capitalization of $75.42 billion, a price-to-earnings ratio of 40.89, a price-to-earnings-growth ratio of 2.42 and a beta of 0.76.

Becton, Dickinson and (NYSE:BDX) last released its earnings results on Wednesday, August 4th. The medical instruments supplier reported $2.74 earnings per share for the quarter, beating the consensus estimate of $2.44 by $0.30. Becton, Dickinson and had a net margin of 9.72% and a return on equity of 16.26%. The firm had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.51 billion. During the same quarter in the previous year, the firm earned $2.20 earnings per share. The firm’s revenue for the quarter was up 26.8% compared to the same quarter last year. As a group, equities research analysts expect that Becton, Dickinson and Company will post 12.9 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 30th. Shareholders of record on Thursday, September 9th will be paid a dividend of $0.83 per share. The ex-dividend date is Wednesday, September 8th. This represents a $3.32 annualized dividend and a yield of 1.26%. Becton, Dickinson and’s payout ratio is 32.55%.

In other news, Director Claire Fraser sold 387 shares of the company’s stock in a transaction dated Wednesday, August 18th. The shares were sold at an average price of $251.58, for a total transaction of $97,361.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Thomas J. Spoerel sold 267 shares of the stock in a transaction dated Wednesday, September 8th. The shares were sold at an average price of $260.00, for a total transaction of $69,420.00. Following the completion of the transaction, the vice president now owns 1,018 shares of the company’s stock, valued at approximately $264,680. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,093 shares of company stock valued at $2,330,578. 0.76% of the stock is owned by insiders.

Becton, Dickinson and Profile

Becton, Dickinson & Co is a medical technology company. The firm engages in the development, manufacture, and sale of medical supplies, devices, laboratory equipment and diagnostic products used by healthcare institutions, physicians, life science researchers, clinical laboratories, the pharmaceutical industry, and the general public.

Read More: Cost of Goods Sold (COGS)

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Institutional Ownership by Quarter for Becton, Dickinson and (NYSE:BDX)

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