Atria Investments Inc has expanded its holdings in Becton, Dickinson and Company (NYSE: BDX) by 16.9% during the third quarter, according to a recent filing with the Securities and Exchange Commission (SEC). The investment firm now owns 27,529 shares of the medical instruments supplier, valued at approximately $5,153,000 following the acquisition of an additional 3,975 shares.
The increase in Atria’s stake is part of a broader trend among institutional investors, many of whom have recently adjusted their positions in Becton, Dickinson. For instance, Gilbert & Cook Inc. raised its stake by 2.0% in the second quarter, now holding 2,844 shares valued at $490,000. Similarly, Mendel Money Management increased its position by 2.6% during the same period, owning 2,254 shares worth $388,000 after purchasing an additional 58 shares.
Other notable investments include Focus Financial Network Inc., which grew its stake by 2.2% in the third quarter, and CX Institutional, which raised its holdings by 3.6% during the same period. Currently, approximately 86.97% of Becton, Dickinson’s stock is owned by hedge funds and institutional investors.
Current Stock Performance and Financial Metrics
Shares of Becton, Dickinson opened at $175.95 on Friday, reflecting a 1.0% decline. The company maintains a debt-to-equity ratio of 0.67, a quick ratio of 0.64, and a current ratio of 1.05. Over the past year, the stock has fluctuated between a low of $127.59 and a high of $185.02. The firm’s market capitalization stands at $50.10 billion, with a price-to-earnings ratio of 28.70 and a PEG ratio of 2.30.
On February 9, 2024, Becton, Dickinson reported quarterly earnings of $2.91 per share, exceeding analysts’ expectations of $2.81 by $0.10. The company’s revenue for the quarter was $5.25 billion, surpassing the consensus estimate of $5.15 billion. This result marks a 1.6% increase in revenue compared to the same quarter the previous year. The firm has guided for fiscal year 2026 earnings per share between $12.350 and $12.650.
Dividends and Shareholder Actions
Becton, Dickinson recently declared a quarterly dividend of $1.05 per share, set to be paid on March 31, 2024. Shareholders of record on March 10, 2024 will benefit from this dividend, which translates to an annualized payout of $4.20 and a yield of 2.4%. The company’s dividend payout ratio is currently 68.52%.
Additionally, the board has initiated a stock buyback plan allowing the company to repurchase up to $10.00 million of its outstanding shares. Such buyback programs typically indicate management’s belief that the stock is undervalued.
Analysts have been active in reassessing their price targets for Becton, Dickinson. Wells Fargo & Company reduced its target price from $184.00 to $157.00, maintaining an “equal weight” rating. JPMorgan Chase & Co. also lowered its price objective from $190.00 to $175.00, awarding a “neutral” rating.
The consensus among analysts now includes five “Buy” ratings, ten “Hold” ratings, and one “Sell” rating, with an average target price of $195.46.
This week’s developments reflect a mix of positive and negative sentiments surrounding Becton, Dickinson, with various analysts adjusting their outlook based on recent company performance and market conditions.
