Patten & Patten Inc. TN Reduces Stock Holdings in Becton, Dickinson and Company (NYSE:BDX)

Patten & Patten Inc. TN decreased its holdings in Becton, Dickinson and Company (NYSE:BDX) by 16.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,307 shares of the medical instruments supplier’s stock after selling 872 shares during the quarter. Patten & Patten Inc. TN’s holdings in Becton, Dickinson and Company were worth $977,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BDX. Bank of Jackson Hole Trust purchased a new stake in Becton, Dickinson and Company in the fourth quarter worth $25,000. Sierra Ocean LLC bought a new position in Becton, Dickinson and Company in the fourth quarter worth $29,000. Picton Mahoney Asset Management raised its holdings in Becton, Dickinson and Company by 61.4% in the fourth quarter. Picton Mahoney Asset Management now owns 142 shares of the medical instruments supplier’s stock worth $32,000 after purchasing an additional 54 shares in the last quarter. Hopwood Financial Services Inc. bought a new position in Becton, Dickinson and Company in the fourth quarter worth $39,000. Finally, Versant Capital Management Inc raised its holdings in Becton, Dickinson and Company by 54.1% in the fourth quarter. Versant Capital Management Inc now owns 208 shares of the medical instruments supplier’s stock worth $47,000 after purchasing an additional 73 shares in the last quarter. Hedge funds and other institutional investors own 86.97% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on BDX shares. Piper Sandler increased their price objective on Becton, Dickinson and Company from $275.00 to $280.00 and gave the stock an “overweight” rating in a report on Tuesday, January 28th. Barclays increased their price objective on 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, StockNews.com upgraded Becton, Dickinson and Company from a “hold” rating to a “buy” rating in a report on Wednesday, March 5th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $278.29.

Becton, Dickinson and Company Price Performance

Shares of NYSE:BDX opened at $226.43 on Monday. 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 business has a fifty day moving average price of $232.78 and a 200-day moving average price of $232.29. The company has a market capitalization of $65.02 billion, a PE ratio of 37.61, a PEG ratio of 1.63 and a beta of 0.35.

Becton, Dickinson and Company (NYSE:BDX) last issued its quarterly earnings results on Wednesday, February 5th. The medical instruments supplier reported $3.43 earnings per share for the quarter, beating the consensus estimate of $3.00 by $0.43. Becton, Dickinson and Company had a return on equity of 15.74% and a net margin of 8.47%. As a group, equities analysts expect that Becton, Dickinson and Company will post 14.43 EPS for the current fiscal year.

Becton, Dickinson and Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a dividend of $1.04 per share. The ex-dividend date is Monday, March 10th. This represents a $4.16 annualized dividend and a dividend yield of 1.84%. Becton, Dickinson and Company’s dividend payout ratio (DPR) is presently 69.10%.

Becton, Dickinson and Company declared that its Board of Directors has initiated a stock repurchase program on Tuesday, January 28th that permits the company to repurchase 10,000,000 outstanding shares. This repurchase authorization permits the medical instruments supplier to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Activity at Becton, Dickinson and Company

In other Becton, Dickinson and Company news, EVP Shana Carol Neal sold 788 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $235.00, for a total value of $185,180.00. Following the transaction, the executive vice president now directly owns 16,201 shares of the company’s stock, valued at approximately $3,807,235. This trade represents a 4.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Michael David Garrison sold 2,838 shares of the firm’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $223.33, for a total value of $633,810.54. Following the completion of the transaction, the executive vice president now directly owns 6,141 shares in the company, valued at $1,371,469.53. The trade was a 31.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,363 shares of company stock valued at $1,676,105 over the last ninety days. Insiders own 0.36% of the company’s stock.

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.