Contravisory Investment Management Inc. Has $6.64 Million Holdings in Becton, Dickinson and Company (NYSE:BDX)

Contravisory Investment Management Inc. decreased its stake in shares of Becton, Dickinson and Company (NYSE:BDX) by 0.7% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 25,158 shares of the medical instruments supplier’s stock after selling 178 shares during the period. Contravisory Investment Management Inc.’s holdings in Becton, Dickinson and Company were worth $6,642,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in BDX. Quad Cities Investment Group LLC bought a new stake in Becton, Dickinson and Company during the 2nd quarter valued at approximately $210,000. Rempart Asset Management Inc. raised its holdings in shares of Becton, Dickinson and Company by 9.1% in the 2nd quarter. Rempart Asset Management Inc. now owns 75,994 shares of the medical instruments supplier’s stock worth $20,063,000 after buying an additional 6,342 shares in the last quarter. Northwest Investment Counselors LLC increased its holdings in Becton, Dickinson and Company by 0.6% during the 2nd quarter. Northwest Investment Counselors LLC now owns 13,870 shares of the medical instruments supplier’s stock valued at $3,662,000 after purchasing an additional 87 shares in the last quarter. Gradient Investments LLC increased its holdings in Becton, Dickinson and Company by 1.5% during the 2nd quarter. Gradient Investments LLC now owns 65,047 shares of the medical instruments supplier’s stock valued at $17,173,000 after purchasing an additional 955 shares in the last quarter. Finally, Czech National Bank increased its stake in shares of Becton, Dickinson and Company by 0.5% in the 2nd quarter. Czech National Bank now owns 33,621 shares of the medical instruments supplier’s stock valued at $8,876,000 after buying an additional 176 shares during the period. Institutional investors and hedge funds own 86.72% of the company’s stock.

Insider Buying and Selling

In related news, EVP Michael David Garrison sold 1,300 shares of Becton, Dickinson and Company stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $277.13, for a total value of $360,269.00. Following the transaction, the executive vice president now directly owns 5,157 shares in the company, valued at approximately $1,429,159.41. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Richard Byrd sold 459 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were 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 owns 3,444 shares of the company’s stock, valued at approximately $945,309.12. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Michael David Garrison sold 1,300 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $277.13, for a total transaction of $360,269.00. Following the sale, the executive vice president now directly owns 5,157 shares of the company’s stock, valued at approximately $1,429,159.41. The disclosure for this sale can be found here. Insiders sold 5,581 shares of company stock worth $1,551,429 over the last 90 days. 0.31% of the stock is owned by insiders.

Analysts Set New Price Targets

BDX has been the topic of several recent analyst reports. Raymond James reduced their target price on Becton, Dickinson and Company from $305.00 to $304.00 and set an “outperform” rating on the stock in a report on Friday, August 4th. Piper Sandler upped their price target on shares of Becton, Dickinson and Company from $290.00 to $305.00 and gave the stock an “overweight” rating in a report on Monday, July 24th. Citigroup raised their price target on shares of 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. StockNews.com downgraded shares of Becton, Dickinson and Company from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. Finally, Morgan Stanley upped their price objective on shares of Becton, Dickinson and Company from $295.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday, August 4th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $288.44.

Becton, Dickinson and Company Stock Up 0.5 %

Shares of NYSE BDX traded up $1.23 during trading hours on Monday, hitting $264.97. 290,690 shares of the stock were exchanged, compared to its average volume of 1,166,064. The company has a quick ratio of 0.73, a current ratio of 1.25 and a debt-to-equity ratio of 0.58. Becton, Dickinson and Company has a 12 month low of $215.90 and a 12 month high of $287.32. The company has a market cap of $76.87 billion, a PE ratio of 48.11, a PEG ratio of 2.19 and a beta of 0.57. The firm has a fifty day moving average price of $272.46 and a 200-day moving average price of $258.10.

Becton, Dickinson and Company (NYSE:BDX) last released its quarterly earnings data on Thursday, August 3rd. The medical instruments supplier reported $2.96 EPS for the quarter, beating the consensus estimate of $2.89 by $0.07. The business had revenue of $4.88 billion for the quarter, compared to the consensus estimate of $4.84 billion. Becton, Dickinson and Company had a net margin of 8.73% and a return on equity of 13.24%. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.66 EPS. On average, sell-side analysts expect that Becton, Dickinson and Company will post 12.23 EPS for the current year.

Becton, Dickinson and Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors 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 dividend on an annualized basis and a yield of 1.37%. Becton, Dickinson and Company’s dividend payout ratio is currently 66.06%.

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'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.