Norges Bank Purchases New Holdings in Becton, Dickinson and Company (NYSE:BDX)

Norges Bank acquired a new position in shares of Becton, Dickinson and Company (NYSE:BDX) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 3,242,045 shares of the medical instruments supplier’s stock, valued at approximately $735,523,000. Norges Bank owned approximately 1.12% of Becton, Dickinson and Company as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the company. First Eagle Investment Management LLC lifted its stake in Becton, Dickinson and Company by 31.4% in the 4th quarter. First Eagle Investment Management LLC now owns 4,426,022 shares of the medical instruments supplier’s stock worth $1,004,132,000 after acquiring an additional 1,057,879 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Becton, Dickinson and Company in the 4th quarter valued at about $181,279,000. Nordea Investment Management AB lifted its position in shares of Becton, Dickinson and Company by 31.0% in the fourth quarter. Nordea Investment Management AB now owns 2,844,566 shares of the medical instruments supplier’s stock worth $647,082,000 after purchasing an additional 673,568 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its holdings in shares of Becton, Dickinson and Company by 24.3% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 1,782,894 shares of the medical instruments supplier’s stock worth $404,485,000 after purchasing an additional 348,335 shares during the period. Finally, Zacks Investment Management purchased a new position in Becton, Dickinson and Company during the third quarter valued at approximately $67,036,000. 86.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Piper Sandler lifted their target price on shares of Becton, Dickinson and Company from $275.00 to $280.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. StockNews.com cut Becton, Dickinson and Company from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Barclays upped their target price on Becton, Dickinson and Company from $278.00 to $279.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $278.29.

Becton, Dickinson and Company Trading Up 0.3 %

Becton, Dickinson and Company stock opened at $228.76 on Friday. Becton, Dickinson and Company has a one year low of $218.75 and a one year high of $251.99. The company’s fifty day moving average price is $232.03 and its two-hundred day moving average price is $231.82. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.13 and a quick ratio of 0.63. The company has a market capitalization of $65.68 billion, a price-to-earnings ratio of 38.00, a PEG ratio of 1.63 and a beta of 0.35.

Becton, Dickinson and Company (NYSE:BDX) last issued its quarterly earnings data on Wednesday, February 5th. The medical instruments supplier reported $3.43 earnings per share for the quarter, beating analysts’ consensus estimates of $3.00 by $0.43. Becton, Dickinson and Company had a return on equity of 15.74% and a net margin of 8.47%. On average, analysts forecast that Becton, Dickinson and Company will post 14.43 earnings per share for the current fiscal year.

Becton, Dickinson and Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a $1.04 dividend. The ex-dividend date is Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.82%. Becton, Dickinson and Company’s payout ratio is presently 69.10%.

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

Insider Buying and Selling

In related news, EVP Michael David Garrison sold 597 shares of the company’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $236.51, for a total transaction of $141,196.47. Following the completion of the transaction, the executive vice president now directly owns 5,544 shares in the company, valued at $1,311,211.44. This represents a 9.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Richard Byrd sold 459 shares of the firm’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $230.00, for a total transaction of $105,570.00. Following the completion of the sale, the executive vice president now owns 6,952 shares in the company, valued at $1,598,960. This represents a 6.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,984 shares of company stock valued at $1,147,865. Insiders own 0.36% 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.