Sumitomo Life Insurance Co. Lowers Holdings in Becton, Dickinson and Company (NYSE:BDX)

Sumitomo Life Insurance Co. lowered its holdings in Becton, Dickinson and Company (NYSE:BDX) by 3.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,419 shares of the medical instruments supplier’s stock after selling 81 shares during the period. Sumitomo Life Insurance Co.’s holdings in Becton, Dickinson and Company were worth $549,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Sound Income Strategies LLC raised its holdings in Becton, Dickinson and Company by 35.8% in the 3rd quarter. Sound Income Strategies LLC now owns 167 shares of the medical instruments supplier’s stock valued at $40,000 after buying an additional 44 shares during the period. Central Pacific Bank Trust Division increased its position in shares of Becton, Dickinson and Company by 22.5% during the third quarter. Central Pacific Bank Trust Division now owns 245 shares of the medical instruments supplier’s stock valued at $59,000 after acquiring an additional 45 shares during the last quarter. Tompkins Financial Corp raised its stake in shares of Becton, Dickinson and Company by 44.2% in the 3rd quarter. Tompkins Financial Corp now owns 150 shares of the medical instruments supplier’s stock valued at $36,000 after acquiring an additional 46 shares during the period. Birch Capital Management LLC lifted its holdings in shares of Becton, Dickinson and Company by 0.4% in the 3rd quarter. Birch Capital Management LLC now owns 11,773 shares of the medical instruments supplier’s stock worth $2,838,000 after acquiring an additional 48 shares during the last quarter. Finally, Radnor Capital Management LLC boosted its position in shares of Becton, Dickinson and Company by 1.7% during the 3rd quarter. Radnor Capital Management LLC now owns 2,937 shares of the medical instruments supplier’s stock worth $708,000 after purchasing an additional 48 shares during the period. Institutional investors and hedge funds own 86.97% of the company’s stock.

Insider Buying and Selling

In other news, EVP Roland Goette sold 638 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $219.03, for a total transaction of $139,741.14. Following the completion of the transaction, the executive vice president now directly owns 14,217 shares of the company’s stock, valued at approximately $3,113,949.51. This represents a 4.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP David Shan sold 500 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $240.00, for a total value of $120,000.00. Following the sale, the executive vice president now directly owns 5,741 shares in the company, valued at $1,377,840. This trade represents a 8.01 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,844 shares of company stock worth $2,210,716. Corporate insiders own 0.36% of the company’s stock.

Becton, Dickinson and Company Trading Up 0.6 %

BDX opened at $248.34 on Friday. The business has a fifty day moving average price of $229.59 and a 200 day moving average price of $233.55. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.17 and a quick ratio of 0.74. Becton, Dickinson and Company has a 12 month low of $218.75 and a 12 month high of $250.91. The stock has a market capitalization of $72.02 billion, a price-to-earnings ratio of 41.81, a PEG ratio of 1.72 and a beta of 0.39.

Becton, Dickinson and Company (NYSE:BDX) last released its earnings results on Thursday, November 7th. The medical instruments supplier reported $3.81 earnings per share for the quarter, topping analysts’ consensus estimates of $3.77 by $0.04. The firm had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.38 billion. Becton, Dickinson and Company had a net margin of 8.55% and a return on equity of 14.89%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.42 earnings per share. Sell-side analysts expect that Becton, Dickinson and Company will post 14.42 earnings per share for the current fiscal year.

Becton, Dickinson and Company announced that its Board of Directors has approved a stock buyback program on Tuesday, January 28th that authorizes the company to buyback 10,000,000 outstanding shares. This buyback authorization authorizes the medical instruments supplier to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Becton, Dickinson and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.16 annualized dividend and a dividend yield of 1.68%. Becton, Dickinson and Company’s dividend payout ratio (DPR) is currently 70.03%.

Analyst Ratings Changes

A number of research analysts have commented on BDX shares. Piper Sandler upped their price target on Becton, Dickinson and Company from $275.00 to $280.00 and gave the stock an “overweight” rating in a research note on Tuesday. StockNews.com lowered Becton, Dickinson and Company from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $283.00.

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.