Allstate Corp Purchases New Holdings in Becton, Dickinson and Company (NYSE:BDX)

Allstate Corp acquired a new position in shares of Becton, Dickinson and Company (NYSE:BDX) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 8,687 shares of the medical instruments supplier’s stock, valued at approximately $1,971,000.

A number of other hedge funds have also recently bought and sold shares of BDX. Vanguard Group Inc. boosted its holdings in Becton, Dickinson and Company by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 26,743,052 shares of the medical instruments supplier’s stock valued at $6,067,196,000 after acquiring an additional 184,288 shares during the last quarter. State Street Corp lifted its position in Becton, Dickinson and Company by 0.8% during the 3rd quarter. State Street Corp now owns 13,953,116 shares of the medical instruments supplier’s stock valued at $3,364,096,000 after purchasing an additional 106,616 shares during the period. Geode Capital Management LLC boosted its stake in shares of Becton, Dickinson and Company by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 6,285,513 shares of the medical instruments supplier’s stock valued at $1,510,050,000 after purchasing an additional 111,101 shares during the last quarter. First Eagle Investment Management LLC grew its position in shares of Becton, Dickinson and Company by 31.4% during the 4th quarter. First Eagle Investment Management LLC now owns 4,426,022 shares of the medical instruments supplier’s stock worth $1,004,132,000 after buying an additional 1,057,879 shares during the period. Finally, Norges Bank bought a new stake in shares of Becton, Dickinson and Company during the fourth quarter worth approximately $735,523,000. 86.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. StockNews.com lowered shares of Becton, Dickinson and Company from a “buy” rating to a “hold” rating in a report on Tuesday, March 25th. Barclays upped their price objective on Becton, Dickinson and Company from $278.00 to $279.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Finally, Piper Sandler raised their target price 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. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $278.29.

Insider Activity at Becton, Dickinson and Company

In other Becton, Dickinson and Company news, EVP Richard Byrd sold 1,940 shares of Becton, Dickinson and Company stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $224.91, for a total value of $436,325.40. Following the sale, the executive vice president now owns 7,411 shares of the company’s stock, valued at $1,666,808.01. This trade represents a 20.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Bertram L. Scott sold 700 shares of the company’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $227.99, for a total value of $159,593.00. Following the transaction, the director now directly owns 36,033 shares of the company’s stock, valued at $8,215,163.67. This represents a 1.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,984 shares of company stock valued at $1,147,865. 0.36% of the stock is owned by corporate insiders.

Becton, Dickinson and Company Stock Down 0.6 %

NYSE:BDX opened at $227.34 on Friday. Becton, Dickinson and Company has a 1 year low of $218.75 and a 1 year high of $251.99. The stock has a 50-day moving average price of $231.83 and a two-hundred day moving average price of $231.73. The stock has a market cap of $65.28 billion, a price-to-earnings ratio of 37.76, a PEG ratio of 1.63 and a beta of 0.35. The company has a current ratio of 1.13, a quick ratio of 0.63 and a debt-to-equity ratio of 0.69.

Becton, Dickinson and Company (NYSE:BDX) last issued its quarterly earnings data on Wednesday, February 5th. The medical instruments supplier reported $3.43 earnings per share (EPS) 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 earnings per share for the current year.

Becton, Dickinson and Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.83%. The ex-dividend date is Monday, March 10th. Becton, Dickinson and Company’s dividend payout ratio is 69.10%.

Becton, Dickinson and Company declared that its Board of Directors has approved a stock buyback program on Tuesday, January 28th that allows the company to buyback 10,000,000 shares. This buyback authorization allows the medical instruments supplier to reacquire shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

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.