Texas Permanent School Fund Corp Cuts Holdings in Becton, Dickinson and Company (NYSE:BDX)

Texas Permanent School Fund Corp lessened its stake in Becton, Dickinson and Company (NYSE:BDX) by 20.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 47,759 shares of the medical instruments supplier’s stock after selling 11,964 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Becton, Dickinson and Company were worth $11,162,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Livelsberger Financial Advisory purchased a new stake in Becton, Dickinson and Company during the 4th quarter worth about $27,000. OLD Point Trust & Financial Services N A purchased a new stake in Becton, Dickinson and Company during the fourth quarter worth approximately $29,000. Scarborough Advisors LLC acquired a new position in Becton, Dickinson and Company in the fourth quarter valued at approximately $32,000. Rise Advisors LLC purchased a new position in Becton, Dickinson and Company in the first quarter valued at approximately $38,000. Finally, ICA Group Wealth Management LLC acquired a new stake in Becton, Dickinson and Company during the fourth quarter worth approximately $42,000. 86.97% of the stock is owned by institutional investors and hedge funds.

Becton, Dickinson and Company Stock Up 2.4 %

Shares of NYSE BDX opened at $237.22 on Tuesday. The stock has a market capitalization of $68.57 billion, a PE ratio of 52.25, a P/E/G ratio of 1.90 and a beta of 0.42. The company has a quick ratio of 1.36, a current ratio of 1.85 and a debt-to-equity ratio of 0.70. The firm has a fifty day moving average of $234.22 and a 200-day moving average of $235.82. Becton, Dickinson and Company has a 52-week low of $218.75 and a 52-week high of $269.52.

Becton, Dickinson and Company (NYSE:BDX) last announced its quarterly earnings results on Thursday, August 1st. The medical instruments supplier reported $3.50 earnings per share for the quarter, topping analysts’ consensus estimates of $3.31 by $0.19. Becton, Dickinson and Company had a net margin of 7.13% and a return on equity of 14.49%. The firm had revenue of $4.99 billion during the quarter, compared to analysts’ expectations of $5.08 billion. During the same period in the prior year, the company earned $2.96 EPS. The firm’s revenue was up 2.3% on a year-over-year basis. On average, analysts anticipate that Becton, Dickinson and Company will post 13.1 EPS for the current year.

Becton, Dickinson and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be issued a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend is Monday, September 9th. Becton, Dickinson and Company’s dividend payout ratio is currently 83.70%.

Wall Street Analysts Forecast Growth

BDX has been the subject of a number of research reports. The Goldman Sachs Group initiated coverage on Becton, Dickinson and Company in a research note on Thursday, May 30th. They issued a “buy” rating and a $274.00 price objective for the company. Citigroup reduced their target price on shares of Becton, Dickinson and Company from $260.00 to $255.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. StockNews.com raised Becton, Dickinson and Company from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Stifel Nicolaus upped 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. Finally, Raymond James lowered their target price on Becton, Dickinson and Company from $275.00 to $270.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $279.50.

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.