Westchester Capital Management Inc. Grows Stock Holdings in Becton, Dickinson and Company (NYSE:BDX)

Westchester Capital Management Inc. grew its stake in shares of Becton, Dickinson and Company (NYSE:BDX) by 0.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 48,848 shares of the medical instruments supplier’s stock after acquiring an additional 126 shares during the period. Becton, Dickinson and Company accounts for approximately 2.9% of Westchester Capital Management Inc.’s portfolio, making the stock its 18th largest holding. Westchester Capital Management Inc.’s holdings in Becton, Dickinson and Company were worth $11,777,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in BDX. Axxcess Wealth Management LLC lifted its holdings in Becton, Dickinson and Company by 30.2% during the 1st quarter. Axxcess Wealth Management LLC now owns 11,051 shares of the medical instruments supplier’s stock worth $2,735,000 after purchasing an additional 2,565 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Becton, Dickinson and Company by 206.5% in the first quarter. SG Americas Securities LLC now owns 46,328 shares of the medical instruments supplier’s stock valued at $11,464,000 after acquiring an additional 31,215 shares during the period. Envestnet Portfolio Solutions Inc. grew its stake in Becton, Dickinson and Company by 24.0% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 32,175 shares of the medical instruments supplier’s stock valued at $7,962,000 after acquiring an additional 6,220 shares in the last quarter. UniSuper Management Pty Ltd increased its holdings in Becton, Dickinson and Company by 225.9% during the 1st quarter. UniSuper Management Pty Ltd now owns 7,775 shares of the medical instruments supplier’s stock worth $1,924,000 after acquiring an additional 5,389 shares during the period. Finally, Cetera Investment Advisers lifted its stake in Becton, Dickinson and Company by 380.8% in the 1st quarter. Cetera Investment Advisers now owns 58,923 shares of the medical instruments supplier’s stock worth $14,580,000 after purchasing an additional 46,668 shares in the last quarter. 86.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BDX has been the subject of several research analyst reports. Stifel Nicolaus lifted their price objective on Becton, Dickinson and Company from $270.00 to $280.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Raymond James cut their price objective on 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 upped their price objective on shares of Becton, Dickinson and Company from $286.00 to $290.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. StockNews.com upgraded shares of Becton, Dickinson and Company from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Finally, Citigroup raised shares of Becton, Dickinson and Company from a “neutral” rating to a “buy” rating and increased their price target for the stock from $255.00 to $275.00 in a report on Tuesday, October 1st. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $282.63.

Becton, Dickinson and Company Stock Up 2.0 %

Shares of NYSE:BDX opened at $231.65 on Friday. The stock has a market capitalization of $66.96 billion, a P/E ratio of 39.00, a price-to-earnings-growth ratio of 1.76 and a beta of 0.43. The stock’s 50-day moving average price is $237.04 and its 200-day moving average price is $235.09. The company has a current ratio of 1.85, a quick ratio of 1.36 and a debt-to-equity ratio of 0.70. Becton, Dickinson and Company has a 12-month low of $218.75 and a 12-month high of $249.89.

Becton, Dickinson and Company (NYSE:BDX) last posted its quarterly earnings results on Thursday, November 7th. The medical instruments supplier reported $3.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.77 by $0.04. Becton, Dickinson and Company had a return on equity of 14.49% and a net margin of 7.13%. The business had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.38 billion. During the same period last year, the company earned $3.42 EPS. Becton, Dickinson and Company’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, equities analysts anticipate that Becton, Dickinson and Company will post 13.11 earnings per share for the current year.

Becton, Dickinson and Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 9th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $4.16 annualized dividend and a yield of 1.80%. This is a boost from Becton, Dickinson and Company’s previous quarterly dividend of $0.95. Becton, Dickinson and Company’s dividend payout ratio is presently 70.03%.

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.