Polar Asset Management Partners Inc. Lowers Stake in Becton, Dickinson and Company (NYSE:BDX)

Polar Asset Management Partners Inc. cut its position in Becton, Dickinson and Company (NYSE:BDX) by 21.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 188,400 shares of the medical instruments supplier’s stock after selling 52,200 shares during the period. Becton, Dickinson and Company comprises 1.0% of Polar Asset Management Partners Inc.’s portfolio, making the stock its 18th largest holding. Polar Asset Management Partners Inc. owned approximately 0.07% of Becton, Dickinson and Company worth $45,423,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of BDX. Massachusetts Financial Services Co. MA boosted its stake in Becton, Dickinson and Company by 9.4% during the third 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 buying an additional 460,440 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Becton, Dickinson and Company by 6.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,055,354 shares of the medical instruments supplier’s stock worth $1,181,483,000 after purchasing an additional 302,893 shares during the period. Bank of New York Mellon Corp increased its position in shares of Becton, Dickinson and Company by 8.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,412,163 shares of the medical instruments supplier’s stock valued at $1,031,167,000 after purchasing an additional 346,720 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Becton, Dickinson and Company by 79.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,986,543 shares of the medical instruments supplier’s stock worth $720,089,000 after buying an additional 1,317,723 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its stake in Becton, Dickinson and Company by 3.1% during the second quarter. Clearbridge Investments LLC now owns 2,984,524 shares of the medical instruments supplier’s stock worth $697,513,000 after buying an additional 89,157 shares during the period. 86.97% of the stock is currently owned by institutional investors.

Becton, Dickinson and Company Stock Performance

Shares of BDX opened at $221.26 on Wednesday. The stock has a fifty day moving average price of $233.60 and a 200-day moving average price of $233.89. Becton, Dickinson and Company has a 12 month low of $218.75 and a 12 month high of $249.89. The firm has a market cap of $63.97 billion, a PE ratio of 37.25, a P/E/G ratio of 1.66 and a beta of 0.41. The company has a current ratio of 1.17, a quick ratio of 0.74 and a debt-to-equity ratio of 0.69.

Becton, Dickinson and Company (NYSE:BDX) last announced its quarterly earnings data on Thursday, November 7th. The medical instruments supplier reported $3.81 EPS for the quarter, beating the consensus estimate of $3.77 by $0.04. The firm had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.38 billion. Becton, Dickinson and Company had a net margin of 8.55% and a return on equity of 14.89%. Becton, Dickinson and Company’s revenue was up 6.9% on a year-over-year basis. During the same period last year, the firm posted $3.42 EPS. Equities research analysts predict that Becton, Dickinson and Company will post 14.43 earnings per share for the current fiscal 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 is Monday, December 9th. This represents a $4.16 dividend on an annualized basis and a yield of 1.88%. This is a boost from Becton, Dickinson and Company’s previous quarterly dividend of $0.95. Becton, Dickinson and Company’s payout ratio is currently 63.97%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on BDX shares. Citigroup upgraded Becton, Dickinson and Company from a “neutral” rating to a “buy” rating and boosted their target price for the company from $255.00 to $275.00 in a research report on Tuesday, October 1st. Evercore ISI upped their price target on shares of Becton, Dickinson and Company from $286.00 to $290.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Finally, StockNews.com raised Becton, Dickinson and Company from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $283.00.

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.