Lorne Steinberg Wealth Management Inc. Increases Stock Position in Becton, Dickinson and Company (NYSE:BDX)

Lorne Steinberg Wealth Management Inc. boosted its stake in Becton, Dickinson and Company (NYSE:BDX) by 51.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,535 shares of the medical instruments supplier’s stock after acquiring an additional 8,290 shares during the period. Becton, Dickinson and Company comprises approximately 1.8% of Lorne Steinberg Wealth Management Inc.’s portfolio, making the stock its 27th largest position. Lorne Steinberg Wealth Management Inc.’s holdings in Becton, Dickinson and Company were worth $5,734,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ontario Teachers Pension Plan Board lifted its position in Becton, Dickinson and Company by 3.8% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 1,852,278 shares of the medical instruments supplier’s stock valued at $451,641,000 after acquiring an additional 68,509 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of Becton, Dickinson and Company by 4.9% in the first quarter. Jennison Associates LLC now owns 402,350 shares of the medical instruments supplier’s stock valued at $99,562,000 after buying an additional 18,786 shares during the last quarter. Norden Group LLC raised its holdings in shares of Becton, Dickinson and Company by 2,086.7% in the first quarter. Norden Group LLC now owns 51,934 shares of the medical instruments supplier’s stock valued at $12,853,000 after buying an additional 49,559 shares during the last quarter. Franklin Street Advisors Inc. NC purchased a new stake in shares of Becton, Dickinson and Company in the first quarter valued at about $11,998,000. Finally, Avity Investment Management Inc. raised its holdings in shares of Becton, Dickinson and Company by 3.5% in the first quarter. Avity Investment Management Inc. now owns 162,687 shares of the medical instruments supplier’s stock valued at $40,257,000 after buying an additional 5,527 shares during the last quarter. 86.97% of the stock is owned by hedge funds and other institutional investors.

Becton, Dickinson and Company Price Performance

BDX traded up $2.31 on Friday, hitting $236.33. 915,895 shares of the company were exchanged, compared to its average volume of 1,447,671. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.97 and a current ratio of 1.85. The business’s fifty day moving average is $233.30 and its 200 day moving average is $236.21. Becton, Dickinson and Company has a fifty-two week low of $218.75 and a fifty-two week high of $283.50. The firm has a market capitalization of $68.30 billion, a P/E ratio of 51.55, a price-to-earnings-growth ratio of 2.06 and a beta of 0.42.

Becton, Dickinson and Company (NYSE:BDX) last issued its earnings results on Thursday, August 1st. The medical instruments supplier reported $3.50 earnings per share for the quarter, topping the consensus estimate of $3.31 by $0.19. Becton, Dickinson and Company had a net margin of 7.13% and a return on equity of 14.49%. The company had revenue of $4.99 billion for the quarter, compared to analyst estimates of $5.08 billion. During the same period in the prior year, the business posted $2.96 earnings per share. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Becton, Dickinson and Company will post 13.06 EPS for the current year.

Becton, Dickinson and Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be issued a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 1.61%. The ex-dividend date is Monday, September 9th. Becton, Dickinson and Company’s dividend payout ratio (DPR) is presently 83.70%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BDX. Citigroup reduced their target price on shares of Becton, Dickinson and Company from $260.00 to $255.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Raymond James reduced their target price on shares of Becton, Dickinson and Company from $275.00 to $270.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Evercore ISI dropped their price target on shares of Becton, Dickinson and Company from $290.00 to $285.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. StockNews.com upgraded shares of Becton, Dickinson and Company from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Finally, Stifel Nicolaus boosted their price target on shares of Becton, Dickinson and Company from $270.00 to $280.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Becton, Dickinson and Company has an average rating of “Moderate Buy” and a consensus target price of $279.50.

Insider Buying and Selling at Becton, Dickinson and Company

In other Becton, Dickinson and Company news, SVP Thomas J. Spoerel sold 300 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $239.31, for a total value of $71,793.00. Following the sale, the senior vice president now owns 1,976 shares of the company’s stock, valued at $472,876.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.31% of the company’s stock.

About Becton, Dickinson and Company

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.