Selway Asset Management Lowers Stock Position in Becton, Dickinson and Company (NYSE:BDX)

Selway Asset Management lowered its position in shares of Becton, Dickinson and Company (NYSE:BDX) by 3.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 17,128 shares of the medical instruments supplier’s stock after selling 540 shares during the period. Becton, Dickinson and Company comprises about 1.6% of Selway Asset Management’s investment portfolio, making the stock its 22nd largest position. Selway Asset Management’s holdings in Becton, Dickinson and Company were worth $4,130,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sound Income Strategies LLC raised its position in shares of Becton, Dickinson and Company by 35.8% in the 3rd quarter. Sound Income Strategies LLC now owns 167 shares of the medical instruments supplier’s stock worth $40,000 after purchasing an additional 44 shares during the last quarter. CVA Family Office LLC raised its position in shares of Becton, Dickinson and Company by 42.2% in the 3rd quarter. CVA Family Office LLC now owns 384 shares of the medical instruments supplier’s stock worth $93,000 after purchasing an additional 114 shares during the last quarter. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Becton, Dickinson and Company in the 3rd quarter worth about $300,000. Cardinal Capital Management Inc. purchased a new position in shares of Becton, Dickinson and Company in the 3rd quarter worth about $30,089,000. Finally, Matrix Asset Advisors Inc. NY raised its position in shares of Becton, Dickinson and Company by 37.6% in the 3rd quarter. Matrix Asset Advisors Inc. NY now owns 35,295 shares of the medical instruments supplier’s stock worth $8,510,000 after purchasing an additional 9,645 shares during the last quarter. Hedge funds and other institutional investors own 86.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on BDX shares. Raymond James lowered their price target on Becton, Dickinson and Company from $275.00 to $270.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Stifel Nicolaus boosted their target price on Becton, Dickinson and Company from $270.00 to $280.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Evercore ISI boosted their target price on 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 raised Becton, Dickinson and Company from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Finally, Citigroup raised Becton, Dickinson and Company from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $255.00 to $275.00 in a research report on Tuesday, October 1st. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Becton, Dickinson and Company has a consensus rating of “Buy” and a consensus price target of $282.63.

Becton, Dickinson and Company Stock Performance

Shares of NYSE BDX traded up $0.96 during midday trading on Friday, hitting $236.50. 896,619 shares of the company’s stock traded hands, compared to its average volume of 1,404,090. Becton, Dickinson and Company has a 1 year low of $218.75 and a 1 year high of $262.55. The stock has a market capitalization of $68.35 billion, a price-to-earnings ratio of 52.09, a price-to-earnings-growth ratio of 1.79 and a beta of 0.42. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.36 and a current ratio of 1.85. The firm has a fifty day moving average of $236.37 and a 200 day moving average of $235.38.

Becton, Dickinson and Company (NYSE:BDX) last released its quarterly earnings results on Thursday, August 1st. The medical instruments supplier reported $3.50 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $5.08 billion. During the same quarter in the prior year, the firm earned $2.96 EPS. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, analysts forecast that Becton, Dickinson and Company will post 13.11 earnings per share for the current year.

Becton, Dickinson and Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 9th were given a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend was Monday, September 9th. Becton, Dickinson and Company’s payout ratio is currently 83.70%.

Becton, Dickinson and Company 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.