Connor Clark & Lunn Investment Management Ltd. Sells 2,803 Shares of Becton, Dickinson and Company (NYSE:BDX)

Connor Clark & Lunn Investment Management Ltd. lowered its position in shares of Becton, Dickinson and Company (NYSE:BDX) by 48.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,970 shares of the medical instruments supplier’s stock after selling 2,803 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Becton, Dickinson and Company were worth $716,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Cetera Investment Advisers increased its holdings in Becton, Dickinson and Company by 380.8% in the first quarter. Cetera Investment Advisers now owns 58,923 shares of the medical instruments supplier’s stock valued at $14,580,000 after purchasing an additional 46,668 shares during the last quarter. M&G Plc increased its holdings in Becton, Dickinson and Company by 0.9% in the second quarter. M&G Plc now owns 709,259 shares of the medical instruments supplier’s stock valued at $165,967,000 after purchasing an additional 6,052 shares during the last quarter. Benson Investment Management Company Inc. increased its holdings in Becton, Dickinson and Company by 13.2% in the third quarter. Benson Investment Management Company Inc. now owns 22,315 shares of the medical instruments supplier’s stock valued at $5,380,000 after purchasing an additional 2,602 shares during the last quarter. Swedbank AB increased its holdings in Becton, Dickinson and Company by 1.8% in the third quarter. Swedbank AB now owns 150,838 shares of the medical instruments supplier’s stock valued at $36,367,000 after purchasing an additional 2,729 shares during the last quarter. Finally, Curi RMB Capital LLC increased its holdings in Becton, Dickinson and Company by 18.1% in the third quarter. Curi RMB Capital LLC now owns 84,873 shares of the medical instruments supplier’s stock valued at $20,463,000 after purchasing an additional 13,030 shares during the last quarter. Institutional investors own 86.97% of the company’s stock.

Becton, Dickinson and Company Price Performance

Becton, Dickinson and Company stock opened at $221.98 on Friday. The stock’s fifty day moving average price is $234.39 and its two-hundred day moving average price is $234.23. Becton, Dickinson and Company has a one year low of $218.75 and a one year high of $249.89. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.17 and a quick ratio of 0.74. The firm has a market cap of $64.16 billion, a PE ratio of 37.37, a price-to-earnings-growth ratio of 1.68 and a beta of 0.43.

Becton, Dickinson and Company (NYSE:BDX) last posted its quarterly earnings data on Thursday, November 7th. The medical instruments supplier reported $3.81 EPS for the quarter, topping analysts’ consensus estimates of $3.77 by $0.04. Becton, Dickinson and Company had a return on equity of 14.89% and a net margin of 8.55%. The firm had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.38 billion. During the same quarter last year, the company earned $3.42 EPS. The company’s revenue was up 6.9% on a year-over-year basis. As a group, research analysts expect that Becton, Dickinson and Company will post 14.43 EPS for the current fiscal year.

Becton, Dickinson and Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 9th will be paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend is Monday, December 9th. This is a positive change from Becton, Dickinson and Company’s previous quarterly dividend of $0.95. Becton, Dickinson and Company’s dividend payout ratio (DPR) is 63.97%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on BDX shares. Citigroup upgraded Becton, Dickinson and Company from a “neutral” rating to a “buy” rating and upped their price objective for the company from $255.00 to $275.00 in a report on Tuesday, October 1st. Raymond James reduced their price objective on Becton, Dickinson and Company from $275.00 to $270.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. StockNews.com raised Becton, Dickinson and Company from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Finally, Evercore ISI increased their price target on Becton, Dickinson and Company from $286.00 to $290.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $283.00.

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 operates in three segments: BD Medical, BD Life Sciences, and BD Interventional.