Peapack Gladstone Financial Corp Cuts Stock Holdings in Becton, Dickinson and Company (NYSE:BDX)

Peapack Gladstone Financial Corp lowered its stake in Becton, Dickinson and Company (NYSE:BDX) by 0.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 101,490 shares of the medical instruments supplier’s stock after selling 110 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Becton, Dickinson and Company were worth $23,025,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in Becton, Dickinson and Company in the 4th quarter worth approximately $735,523,000. First Eagle Investment Management LLC increased its position in Becton, Dickinson and Company by 31.4% in the fourth 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 purchasing an additional 1,057,879 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Becton, Dickinson and Company by 15.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 6,175,899 shares of the medical instruments supplier’s stock valued at $1,401,126,000 after purchasing an additional 810,345 shares in the last quarter. Raymond James Financial Inc. bought a new position in Becton, Dickinson and Company during the fourth quarter valued at $181,279,000. Finally, Nordea Investment Management AB grew its stake in shares of Becton, Dickinson and Company by 31.0% in the 4th quarter. Nordea Investment Management AB now owns 2,844,566 shares of the medical instruments supplier’s stock worth $647,082,000 after buying an additional 673,568 shares in the last quarter. Hedge funds and other institutional investors own 86.97% of the company’s stock.

Becton, Dickinson and Company Price Performance

Shares of BDX stock opened at $208.03 on Friday. The stock has a 50 day moving average price of $230.06 and a 200 day moving average price of $231.33. The firm has a market capitalization of $59.73 billion, a P/E ratio of 34.56, a P/E/G ratio of 1.63 and a beta of 0.35. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.63 and a current ratio of 1.13. Becton, Dickinson and Company has a 52-week low of $204.95 and a 52-week high of $251.99.

Becton, Dickinson and Company (NYSE:BDX) last posted its quarterly earnings results on Wednesday, February 5th. The medical instruments supplier reported $3.43 EPS for the quarter, topping analysts’ consensus estimates of $3.00 by $0.43. Becton, Dickinson and Company had a net margin of 8.47% and a return on equity of 15.74%. As a group, sell-side analysts predict that Becton, Dickinson and Company will post 14.43 earnings per share for the current year.

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

Becton, Dickinson and Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were paid a $1.04 dividend. The ex-dividend date was Monday, March 10th. This represents a $4.16 annualized dividend and a yield of 2.00%. Becton, Dickinson and Company’s dividend payout ratio (DPR) is currently 69.10%.

Insider Buying and Selling at Becton, Dickinson and Company

In related news, EVP Shana Carol Neal sold 788 shares of Becton, Dickinson and Company stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $235.00, for a total transaction of $185,180.00. Following the transaction, the executive vice president now directly owns 16,201 shares of the company’s stock, valued at $3,807,235. This trade represents a 4.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP David Shan sold 500 shares of the stock in a transaction on Tuesday, January 21st. The shares were 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. Insiders sold a total of 4,984 shares of company stock valued at $1,147,865 in the last ninety days. Corporate insiders own 0.36% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Barclays upped their target price on shares of Becton, Dickinson and Company from $278.00 to $279.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Piper Sandler upped their price objective on Becton, Dickinson and Company from $275.00 to $280.00 and gave the company an “overweight” rating in a research report on Tuesday, January 28th. Finally, StockNews.com upgraded Becton, Dickinson and Company from a “hold” rating to a “buy” rating in a report on Wednesday. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $278.29.

Becton, Dickinson and Company 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.