Cullen Capital Management LLC Increases Position in Becton, Dickinson and Company $BDX

Cullen Capital Management LLC boosted its position in shares of Becton, Dickinson and Company (NYSE:BDX) by 94.3% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 716,260 shares of the medical instruments supplier’s stock after acquiring an additional 347,692 shares during the quarter. Cullen Capital Management LLC owned about 0.25% of Becton, Dickinson and Company worth $134,062,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Bill Few Associates Inc. lifted its holdings in shares of Becton, Dickinson and Company by 0.7% during the second quarter. Bill Few Associates Inc. now owns 7,906 shares of the medical instruments supplier’s stock worth $1,362,000 after purchasing an additional 55 shares during the period. Gilbert & Cook Inc. raised its position in Becton, Dickinson and Company by 2.0% during the 2nd quarter. Gilbert & Cook Inc. now owns 2,844 shares of the medical instruments supplier’s stock worth $490,000 after buying an additional 56 shares during the last quarter. Mendel Money Management lifted its stake in Becton, Dickinson and Company by 2.6% during the 2nd quarter. Mendel Money Management now owns 2,254 shares of the medical instruments supplier’s stock valued at $388,000 after acquiring an additional 58 shares during the period. Focus Financial Network Inc. boosted its holdings in shares of Becton, Dickinson and Company by 2.2% in the 3rd quarter. Focus Financial Network Inc. now owns 2,692 shares of the medical instruments supplier’s stock valued at $504,000 after acquiring an additional 58 shares during the last quarter. Finally, CX Institutional increased its stake in shares of Becton, Dickinson and Company by 3.6% in the third quarter. CX Institutional now owns 1,731 shares of the medical instruments supplier’s stock worth $324,000 after acquiring an additional 60 shares during the period. Hedge funds and other institutional investors own 86.97% of the company’s stock.

Becton, Dickinson and Company Stock Performance

Shares of BDX stock opened at $207.82 on Thursday. The company has a current ratio of 1.11, a quick ratio of 0.64 and a debt-to-equity ratio of 0.69. Becton, Dickinson and Company has a 12-month low of $162.29 and a 12-month high of $245.23. The business’s 50 day moving average is $199.25 and its two-hundred day moving average is $191.87. The company has a market capitalization of $59.21 billion, a P/E ratio of 35.65, a P/E/G ratio of 2.28 and a beta of 0.25.

Becton, Dickinson and Company (NYSE:BDX) last announced its earnings results on Thursday, November 6th. The medical instruments supplier reported $3.96 earnings per share for the quarter, topping the consensus estimate of $3.92 by $0.04. Becton, Dickinson and Company had a return on equity of 16.42% and a net margin of 7.68%.The business had revenue of $5.89 billion during the quarter, compared to the consensus estimate of $5.91 billion. During the same period in the prior year, the company posted $3.81 EPS. The business’s quarterly revenue was up 8.3% on a year-over-year basis. Analysts expect that Becton, Dickinson and Company will post 14.43 EPS for the current fiscal year.

Becton, Dickinson and Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th will be given a dividend of $1.05 per share. The ex-dividend date is Tuesday, March 10th. This represents a $4.20 dividend on an annualized basis and a yield of 2.0%. Becton, Dickinson and Company’s dividend payout ratio is currently 72.04%.

Becton, Dickinson and Company declared that its board has approved a stock buyback plan on Tuesday, January 27th that permits the company to repurchase $10.00 million in shares. This repurchase authorization permits the medical instruments supplier to purchase up to 0% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

BDX has been the subject of a number of research reports. Royal Bank Of Canada boosted their target price on shares of Becton, Dickinson and Company from $202.00 to $210.00 and gave the company a “sector perform” rating in a research report on Wednesday, December 17th. Weiss Ratings reissued a “hold (c-)” rating on shares of Becton, Dickinson and Company in a report on Wednesday, October 8th. Piper Sandler raised their target price on Becton, Dickinson and Company from $190.00 to $205.00 and gave the stock a “neutral” rating in a report on Wednesday, January 28th. Morgan Stanley boosted their price target on Becton, Dickinson and Company from $197.00 to $210.00 and gave the company an “overweight” rating in a report on Tuesday, December 2nd. Finally, Citigroup assumed coverage on shares of Becton, Dickinson and Company in a research note on Tuesday. They set a “buy” rating and a $233.00 price objective on the stock. Five analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $213.36.

Insider Buying and Selling at Becton, Dickinson and Company

In related news, EVP Michael David Garrison sold 1,610 shares of the firm’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $207.46, for a total value of $334,010.60. Following the transaction, the executive vice president directly owned 12,095 shares of the company’s stock, valued at approximately $2,509,228.70. This trade represents a 11.75% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Bertram L. Scott sold 217 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $176.58, for a total value of $38,317.86. Following the sale, the director owned 35,816 shares of the company’s stock, valued at approximately $6,324,389.28. This trade represents a 0.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 2,680 shares of company stock worth $539,848. Insiders own 0.40% of the company’s stock.

About Becton, Dickinson and Company

Becton, Dickinson and Company (BDX) is a global medical technology company that develops, manufactures and sells a broad range of medical devices, instrument systems and reagents. BD’s products are used by healthcare institutions, clinical laboratories, life science researchers and the pharmaceutical industry to enable safe, effective delivery of care, specimen collection and diagnostic testing. The company’s operations span multiple business areas focused on medical devices, life sciences research tools and interventional technologies.

BD’s product portfolio includes single-use medical devices such as syringes, needles, needlesafety and injection systems, infusion therapy and medication management solutions, as well as vascular access, urology and oncology devices acquired through its interventional business.