JARISLOWSKY FRASER Ltd has reduced its shareholding in Becton, Dickinson and Company (NYSE: BDX) by 0.7% during the third quarter of 2023. According to the company’s recent filing with the Securities and Exchange Commission, JARISLOWSKY FRASER now holds 935,130 shares, having sold 6,673 shares during the quarter. This stake is valued at approximately $175,028,000, representing around 0.33% of Becton, Dickinson’s total shares.
Several other institutional investors have also adjusted their positions in Becton, Dickinson recently. Bill Few Associates Inc. increased its holdings by 0.7% in Q2 2023, owning 7,906 shares valued at $1,362,000 after acquiring an additional 55 shares. Similarly, Gilbert & Cook Inc. raised its stake by 2.0%, owning 2,844 shares worth $490,000. Mendel Money Management and Focus Financial Network Inc. also expanded their stakes by 2.6% and 2.2%, respectively.
As of now, institutional investors and hedge funds hold 86.97% of Becton, Dickinson’s stock, reflecting a robust interest in the company’s performance and potential.
Analyst Ratings and Market Performance
Recent reports from analysts indicate a bullish outlook for Becton, Dickinson. Jefferies Financial Group raised its price target from $215.00 to $220.00, assigning a “buy” rating. The Royal Bank of Canada similarly increased its target from $202.00 to $210.00, while Weiss Ratings reiterated a “hold (C-)” rating.
As of now, four analysts recommend buying the stock, while nine suggest holding it. According to MarketBeat.com, the average rating stands at “Hold” with a consensus price target of $205.64.
In trading on December 17, 2023, BDX shares opened at $194.73. The stock has experienced a 0.3% rise recently, with a 50-day moving average of $191.03 and a 200-day average of $186.94. Becton, Dickinson’s market capitalization is currently at $55.48 billion, with a P/E ratio of 33.40.
Insider Transactions and Dividend Information
In related developments, Executive Vice President Michael David Garrison sold 629 shares on December 17, 2023, at an average price of $196.03, totaling approximately $123,302.87. After this transaction, he holds 13,105 shares, valued at about $2,568,973.15, indicating a 4.58% decrease in his ownership.
Director Bertram L. Scott also sold 217 shares on November 7, 2023, for an average price of $176.58, amounting to approximately $38,317.86. He retains 35,816 shares, valued at around $6,324,389.28. In total, insiders have sold 1,052 shares over the last 90 days, representing 0.40% of the company’s stock.
Becton, Dickinson has recently announced an increase in its quarterly dividend. Shareholders received a dividend of $1.05 per share on December 31, 2023, up from the previous $1.04. This raises the annualized dividend to $4.20 with a yield of 2.2%. The company’s payout ratio is currently 72.04%.
Overall, Becton, Dickinson and Company remains a significant player in the medical technology sector, continuously adapting to market demands while providing value to its investors.
