Grayhawk Investment Strategies Inc. Invests $299,000 in Becton, Dickinson and Company (NYSE:BDX)

Grayhawk Investment Strategies Inc. purchased a new position in Becton, Dickinson and Company (NYSE:BDX) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 892 shares of the medical instruments supplier’s stock, valued at approximately $299,000. Becton, Dickinson and Company makes up about 0.1% of Grayhawk Investment Strategies Inc.’s investment portfolio, making the stock its 28th biggest holding.

A number of other hedge funds have also made changes to their positions in the stock. BlackRock Inc. grew its stake in shares of Becton, Dickinson and Company by 5.7% in the first quarter. BlackRock Inc. now owns 23,794,080 shares of the medical instruments supplier’s stock worth $5,889,987,000 after acquiring an additional 1,281,866 shares during the last quarter. Geode Capital Management LLC raised its holdings in Becton, Dickinson and Company by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 4,944,926 shares of the medical instruments supplier’s stock worth $1,254,814,000 after purchasing an additional 91,679 shares during the last quarter. Moneta Group Investment Advisors LLC raised its holdings in Becton, Dickinson and Company by 95,813.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 4,045,643 shares of the medical instruments supplier’s stock worth $1,028,807,000 after purchasing an additional 4,041,425 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Becton, Dickinson and Company by 1.3% during the 4th quarter. Wells Fargo & Company MN now owns 3,801,481 shares of the medical instruments supplier’s stock worth $966,717,000 after purchasing an additional 47,096 shares during the last quarter. Finally, Clearbridge Investments LLC grew its position in shares of Becton, Dickinson and Company by 2.5% during the 1st quarter. Clearbridge Investments LLC now owns 2,944,451 shares of the medical instruments supplier’s stock worth $728,869,000 after buying an additional 70,818 shares during the period. 86.72% of the stock is owned by hedge funds and other institutional investors.

Becton, Dickinson and Company Price Performance

Shares of BDX stock traded down $1.38 during trading hours on Tuesday, reaching $265.80. The stock had a trading volume of 54,277 shares, compared to its average volume of 1,155,284. The firm has a market capitalization of $77.11 billion, a PE ratio of 48.49, a PEG ratio of 2.21 and a beta of 0.57. Becton, Dickinson and Company has a 12 month low of $215.90 and a 12 month high of $287.32. The stock’s fifty day simple moving average is $272.08 and its 200 day simple moving average is $257.28. The company has a current ratio of 1.25, a quick ratio of 0.73 and a debt-to-equity ratio of 0.58.

Becton, Dickinson and Company (NYSE:BDX) last issued its earnings results on Thursday, August 3rd. The medical instruments supplier reported $2.96 EPS for the quarter, topping the consensus estimate of $2.89 by $0.07. Becton, Dickinson and Company had a net margin of 8.73% and a return on equity of 13.24%. The company had revenue of $4.88 billion for the quarter, compared to the consensus estimate of $4.84 billion. During the same period in the previous year, the firm earned $2.66 earnings per share. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, equities research analysts predict that Becton, Dickinson and Company will post 12.23 EPS for the current year.

Becton, Dickinson and Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be paid a $0.91 dividend. The ex-dividend date is Thursday, September 7th. This represents a $3.64 annualized dividend and a yield of 1.37%. Becton, Dickinson and Company’s payout ratio is 66.06%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on BDX shares. Citigroup boosted their price objective on Becton, Dickinson and Company from $260.00 to $282.00 and gave the company a “neutral” rating in a research report on Monday, August 21st. Raymond James cut their price objective on shares of Becton, Dickinson and Company from $305.00 to $304.00 and set an “outperform” rating for the company in a report on Friday, August 4th. Piper Sandler boosted their target price on shares of Becton, Dickinson and Company from $290.00 to $305.00 and gave the company an “overweight” rating in a research report on Monday, July 24th. Morgan Stanley upped their price objective on shares of Becton, Dickinson and Company from $295.00 to $310.00 and gave the stock an “overweight” rating in a research report on Friday, August 4th. Finally, Barclays upped their price objective on shares of Becton, Dickinson and Company from $284.00 to $303.00 and gave the company an “overweight” rating in a research note on Monday, August 7th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $288.44.

Insiders Place Their Bets

In other news, EVP Richard Byrd sold 459 shares of the stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $274.48, for a total transaction of $125,986.32. Following the completion of the transaction, the executive vice president now directly owns 3,444 shares in the company, valued at approximately $945,309.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Becton, Dickinson and Company news, Director Claire Fraser sold 848 shares of the firm’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $281.66, for a total value of $238,847.68. Following the completion of the sale, the director now owns 21,608 shares of the company’s stock, valued at $6,086,109.28. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Richard Byrd sold 459 shares of Becton, Dickinson and Company stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $274.48, for a total value of $125,986.32. Following the sale, the executive vice president now directly owns 3,444 shares of the company’s stock, valued at approximately $945,309.12. The disclosure for this sale can be found here. Insiders sold 5,581 shares of company stock worth $1,551,429 in the last three months. 0.31% of the stock is owned by company insiders.

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's BD Medical segment provides peripheral intravenous (IV) and advanced peripheral catheters, central lines, acute dialysis catheters, vascular care and preparation products, needle-free IV connectors and extensions sets, closed-system drug transfer devices, hazardous drug detections, hypodermic syringes and needles, anesthesia needles and trays, enteral syringes, and sharps disposal systems; IV medication and infusion therapy delivery systems, medication compounding workflow systems, automated medication dispensing and supply management systems, and medication inventory optimization and tracking systems; syringes, pen needles, and other products for diabetes; and prefillable drug delivery systems.