On August 14, 2023, Nuance Investments LLC announced a significant boost in its position within Becton, Dickinson and Company (NYSE:BDX). According to the company’s latest Form 13F filing with the Securities & Exchange Commission, Nuance Investments LLC increased its position by a staggering 2,250.7% during the first quarter of the year. This bold move saw the fund acquire an additional 53,273 shares of the renowned medical instruments supplier’s stock, bringing their total holdings to an impressive 55,640 shares. The value of Nuance Investments LLC’s stake in Becton, Dickinson and Company amounted to approximately $13,773,000 as of their most recent filing.
Becton, Dickinson and Company recently disclosed its earnings results for the quarter ending on August 3rd. The medical instruments supplier reported earnings per share (EPS) of $2.96 for the period – surpassing analysts’ consensus estimates by $0.07. Furthermore, the company generated $4.88 billion in revenue during this quarter which outperformed analysts’ projections of $4.84 billion. This robust performance highlights Becton, Dickinson and Company’s continuous growth trajectory.
The company’s solid financial standing is further exemplified by its net margin of 8.73% and return on equity of 13.24%. Compared to the same quarter in the previous year when it earned $2.66 EPS, Becton, Dickinson and Company demonstrated remarkable improvement in both its revenue generation capabilities and overall profitability.
To add further context regarding Becton, Dickinson and Company’s future prospects, various research firms have provided insightful reports on their outlook for investors to consider. For instance, StockNews.com upgraded their rating from “hold” to “buy” following their analysis of the company’s recent performance and market conditions.
Other research firms such as Raymond James lowered their price objective for Becton, Dickinson and Company’s stock from $305.00 to $304.00, maintaining an “outperform” rating on the shares. Conversely, Piper Sandler raised their price objective to $305.00 and bestowed an “overweight” rating on the stock. Similarly, Barclays also increased their price target to $303.00 and rated the stock as “overweight.” Morgan Stanley echoed these sentiments by raising their price objective from $295.00 to $310.00 while maintaining an “overweight” rating.
Based on Bloomberg.com data, it is noteworthy that Becton, Dickinson and Company currently holds a consensus rating of “Moderate Buy,” with nine out of ten analysts giving it a “buy” recommendation.
Overall, Nuance Investments LLC’s significant boost in its position within Becton, Dickinson and Company underscores its confidence in the company’s continued success. With stellar earnings results and positive ratings from various research firms, investors have reason to believe that this medical instruments supplier will continue to excel in the coming years.
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Becton, Dickinson and Company (BDX) Garners Strong Institutional Investor Support and Positive Recommendations
Becton, Dickinson and Company (BDX) has seen significant activity from hedge funds and other institutional investors in recent months. Moneta Group Investment Advisors LLC increased its holdings in BDX by a staggering 95,813.8% during the fourth quarter, now owning over 4 million shares of the medical instruments supplier’s stock. Norges Bank also purchased a new position in BDX during the same period, with a value of $697 million. Renaissance Technologies LLC and Arrowstreet Capital Limited Partnership both saw substantial increases in their holdings as well.
These investments from hedge funds and institutional investors indicate strong confidence in BDX’s future prospects. With such significant acquisitions of shares, it is clear that these investors see potential growth and profitability in the company. The influx of funds from these sources suggests that BDX is a favorable investment choice within the medical instruments sector.
On August 14, 2023, BDX stock traded at $282.31 per share with approximately 1.3 million shares exchanged. The company currently has a market cap of $81.90 billion and a price-to-earnings ratio of 51.24. Its beta stands at 0.57, indicating relatively lower volatility compared to the overall market.
Analyzing the company’s financial health, BDX has a debt-to-equity ratio of 0.58, signaling moderate leverage levels. Moreover, it boasts impressive liquidity ratios with a quick ratio of 0.73 and a current ratio of 1.25.
Over the past year, BDX stock has experienced fluctuations between its lowest price of $215.90 and its highest price of $287.32 – demonstrating strong performance within this period.
Several research firms have issued positive recommendations for BDX stock as well, further bolstering investor confidence in the company’s outlook for growth and profitability.
StockNews.com upgraded its rating on Becton, Dickinson and Company from “hold” to “buy,” suggesting that its future prospects are promising. Raymond James and Piper Sandler also maintained their positive outlook on BDX stock, setting price targets at $304.00 and $305.00, respectively. Additionally, Barclays raised its price objective to $303.00, while Morgan Stanley increased it to $310.00.
The consensus rating for BDX according to Bloomberg.com is labeled as a “Moderate Buy,” with nine out of ten analysts recommending a buy rating. The average target price stands at $284.89.
Notably, BDX declared a quarterly dividend which will be paid on September 29th to shareholders of record as of September 8th. This payout amounts to $0.91 per share, indicating an annualized dividend of $3.64 and a yield of 1.29%. With a payout ratio of 66.06%, the company demonstrates its commitment to returning value to shareholders.
In recent news, Executive Vice President Michael David Garrison sold 1,300 shares of BDX stock at an average price of $277.13 on August 8th, resulting in a total transaction value of $360,269.00.
Overall, the flurry of activity from hedge funds and institutional investors alongside positive recommendations from research firms underscores the confidence in Becton, Dickinson and Company’s potential growth and profitability within the medical instruments industry. As the company continues to demonstrate strong financials and solid performance in the market, investors can remain optimistic about its future prospects.
