Veritas Asset Management LLP Sells 237,651 Shares of Becton, Dickinson and Company (NYSE:BDX)

Veritas Asset Management LLP lessened its stake in Becton, Dickinson and Company (NYSE:BDX) by 10.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,057,554 shares of the medical instruments supplier’s stock after selling 237,651 shares during the quarter. Becton, Dickinson and Company makes up approximately 4.4% of Veritas Asset Management LLP’s portfolio, making the stock its 11th biggest holding. Veritas Asset Management LLP owned 0.71% of Becton, Dickinson and Company worth $466,797,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of BDX. Charles Schwab Investment Management Inc. grew its stake in Becton, Dickinson and Company by 79.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,986,543 shares of the medical instruments supplier’s stock valued at $720,089,000 after buying an additional 1,317,723 shares in the last quarter. Nordea Investment Management AB grew its position in shares of Becton, Dickinson and Company by 31.0% during the 4th quarter. Nordea Investment Management AB now owns 2,844,566 shares of the medical instruments supplier’s stock valued at $647,082,000 after purchasing an additional 673,568 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Becton, Dickinson and Company by 9.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,365,554 shares of the medical instruments supplier’s stock valued at $1,293,635,000 after purchasing an additional 460,440 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Becton, Dickinson and Company during the 3rd quarter worth $108,243,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Becton, Dickinson and Company by 62.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,107,317 shares of the medical instruments supplier’s stock worth $266,974,000 after acquiring an additional 424,487 shares during the last quarter. Institutional investors own 86.97% of the company’s stock.

Insiders Place Their Bets

In other news, EVP David Shan sold 500 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $240.00, for a total transaction of $120,000.00. Following the sale, the executive vice president now owns 5,741 shares in the company, valued at $1,377,840. This represents a 8.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Roland Goette sold 638 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $219.03, for a total transaction of $139,741.14. Following the sale, the executive vice president now owns 14,217 shares in the company, valued at approximately $3,113,949.51. The trade was a 4.29 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,544 shares of company stock worth $2,370,309. 0.36% of the stock is currently owned by company insiders.

Becton, Dickinson and Company Price Performance

Shares of NYSE BDX opened at $230.40 on Tuesday. Becton, Dickinson and Company has a 1 year low of $218.75 and a 1 year high of $251.99. 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’s 50-day moving average is $232.96 and its 200 day moving average is $233.25. The stock has a market capitalization of $66.16 billion, a P/E ratio of 38.27, a P/E/G ratio of 1.63 and a beta of 0.40.

Becton, Dickinson and Company (NYSE:BDX) last announced its quarterly earnings data on Wednesday, February 5th. The medical instruments supplier reported $3.43 earnings per share 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%. On average, sell-side analysts expect 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 buyback plan on Tuesday, January 28th that permits the company to buyback 10,000,000 outstanding shares. This buyback authorization permits the medical instruments supplier to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Becton, Dickinson and Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend is Monday, March 10th. Becton, Dickinson and Company’s dividend payout ratio (DPR) is presently 69.10%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on BDX shares. StockNews.com raised shares of Becton, Dickinson and Company from a “hold” rating to a “buy” rating in a report on Wednesday, February 12th. Barclays lifted their price objective on shares of Becton, Dickinson and Company from $278.00 to $279.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Finally, Piper Sandler lifted their price objective on shares of Becton, Dickinson and Company from $275.00 to $280.00 and gave the stock an “overweight” rating in a report on Tuesday, January 28th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, Becton, Dickinson and Company currently has an average rating of “Buy” and a consensus price target of $278.29.

Becton, Dickinson and 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.