Argus Investors Counsel Inc. increased its stake in Becton Dickinson and Co (NYSE:BDX) by 97.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,174 shares of the medical instruments supplier’s stock after buying an additional 17,827 shares during the period. Becton Dickinson and accounts for 2.2% of Argus Investors Counsel Inc.’s portfolio, making the stock its 11th largest position. Argus Investors Counsel Inc.’s holdings in Becton Dickinson and were worth $9,116,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently added to or reduced their stakes in BDX. Harvest Group Wealth Management LLC bought a new position in Becton Dickinson and in the first quarter worth about $25,000. Hexavest Inc. bought a new position in Becton Dickinson and in the second quarter worth about $28,000. Pinnacle Financial Partners Inc. bought a new position in Becton Dickinson and in the first quarter worth about $29,000. RPG Investment Advisory LLC bought a new position in Becton Dickinson and in the first quarter worth about $32,000. Finally, Nalls Sherbakoff Group LLC bought a new position in Becton Dickinson and in the fourth quarter worth about $34,000. 84.55% of the stock is owned by institutional investors.
In other news, EVP Patrick Kaltenbach sold 191 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $241.03, for a total transaction of $46,036.73. Following the sale, the executive vice president now owns 19,072 shares in the company, valued at $4,596,924.16. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Simon D. Campion sold 2,903 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $236.94, for a total transaction of $687,836.82. Following the sale, the executive vice president now owns 9,408 shares in the company, valued at approximately $2,229,131.52. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,154 shares of company stock worth $4,955,775. Corporate insiders own 0.12% of the company’s stock.
Becton Dickinson and (NYSE:BDX) last posted its quarterly earnings results on Thursday, May 9th. The medical instruments supplier reported $2.59 EPS for the quarter, beating the Zacks’ consensus estimate of $2.57 by $0.02. Becton Dickinson and had a net margin of 5.88% and a return on equity of 14.58%. The firm had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $4.25 billion. During the same quarter in the prior year, the company posted $2.65 earnings per share. The business’s revenue for the quarter was down .6% on a year-over-year basis. Analysts predict that Becton Dickinson and Co will post 11.69 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 1.20%. Becton Dickinson and’s payout ratio is 27.97%.
A number of equities research analysts have weighed in on BDX shares. Raymond James set a C$1.00 price objective on shares of Orezone Gold and gave the stock an “outperform” rating in a report on Friday, June 28th. Zacks Investment Research cut shares of GreenTree Hospitality Group from a “buy” rating to a “hold” rating in a report on Monday, May 20th. ValuEngine cut shares of Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Morgan Stanley cut their price objective on shares of Neon Therapeutics from $19.00 to $13.00 and set an “overweight” rating on the stock in a report on Tuesday, July 16th. Finally, KeyCorp upped their price objective on shares of Harsco from $30.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, May 10th. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $263.58.
Becton Dickinson and Profile
Becton, Dickinson and Company develops, manufactures, and sells medical supplies, devices, laboratory equipment, and diagnostic products worldwide. The company's BD Medical segment offers peripheral IV and advanced peripheral catheters, central lines, acute dialysis catheters, vascular care and preparation products, needle-free IV connectors and extensions sets, IV fluids, closed-system drug transfer devices, hazardous drug detection, hypodermic syringes and needles, anesthesia needles and trays, enteral syringes, sharps disposal systems; infusion pumps and dedicated disposables, medication compounding workflow systems, automated medication dispensing, automated supply management systems, medication inventory optimization and tracking systems; syringes, pen needles, and other products for diabetes care; and prefillable drug delivery systems.
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