Becton, Dickinson and Company (NYSE:BDX) Shares Down 0.4% – Here’s What Happened

Becton, Dickinson and Company (NYSE:BDX) dropped 0.4% during trading on Friday . The company traded as low as $222.81 and last traded at $223.22. Approximately 445,269 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 1,992,914 shares. The stock had previously closed at $224.16.

Analysts Set New Price Targets

Several equities analysts have weighed in on BDX shares. Barclays raised their target price on shares of Becton, Dickinson and Company from $278.00 to $279.00 and gave the company an “overweight” rating in a report on Friday, February 14th. StockNews.com cut shares of Becton, Dickinson and Company from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, Piper Sandler upped their target price on Becton, Dickinson and Company from $275.00 to $280.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Becton, Dickinson and Company presently has a consensus rating of “Moderate Buy” and a consensus target price of $278.29.

Becton, Dickinson and Company Trading Up 0.6 %

The business’s fifty day moving average price is $233.08 and its 200 day moving average price is $233.02. The company has a quick ratio of 0.63, a current ratio of 1.13 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $64.77 billion, a PE ratio of 37.47, a P/E/G ratio of 1.63 and a beta of 0.40.

Becton, Dickinson and Company (NYSE:BDX) last released its earnings results on Wednesday, February 5th. The medical instruments supplier reported $3.43 EPS for the quarter, topping the consensus estimate of $3.00 by $0.43. Becton, Dickinson and Company had a net margin of 8.47% and a return on equity of 15.74%. As a group, analysts expect that Becton, Dickinson and Company will post 14.43 EPS for the current fiscal year.

Becton, Dickinson and Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend is Monday, March 10th. Becton, Dickinson and Company’s dividend payout ratio is currently 69.10%.

Becton, Dickinson and Company declared that its board has authorized a stock buyback program on Tuesday, January 28th that allows the company to buyback 10,000,000 outstanding shares. This buyback authorization allows the medical instruments supplier to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other Becton, Dickinson and Company news, Director Bertram L. Scott sold 700 shares of the stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $227.99, for a total transaction of $159,593.00. Following the transaction, the director now owns 36,033 shares of the company’s stock, valued at $8,215,163.67. This trade represents a 1.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey William Henderson acquired 1,500 shares of the stock in a transaction dated Monday, February 10th. The shares were bought at an average cost of $233.62 per share, with a total value of $350,430.00. Following the completion of the purchase, the director now directly owns 8,015 shares in the company, valued at approximately $1,872,464.30. This trade represents a 23.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 10,544 shares of company stock valued at $2,370,309. Insiders own 0.36% of the company’s stock.

Hedge Funds Weigh In On Becton, Dickinson and Company

Several hedge funds and other institutional investors have recently modified their holdings of BDX. Bank of Jackson Hole Trust purchased a new position in Becton, Dickinson and Company in the fourth quarter valued at approximately $25,000. Sierra Ocean LLC acquired a new stake in shares of Becton, Dickinson and Company in the fourth quarter worth $29,000. REAP Financial Group LLC raised its stake in shares of Becton, Dickinson and Company by 75.3% in the 4th quarter. REAP Financial Group LLC now owns 128 shares of the medical instruments supplier’s stock valued at $29,000 after acquiring an additional 55 shares during the period. Picton Mahoney Asset Management boosted its position in Becton, Dickinson and Company by 61.4% during the 4th quarter. Picton Mahoney Asset Management now owns 142 shares of the medical instruments supplier’s stock worth $32,000 after purchasing an additional 54 shares during the period. Finally, Ashton Thomas Securities LLC purchased a new stake in Becton, Dickinson and Company during the 3rd quarter worth $33,000. 86.97% of the stock is owned by institutional investors and hedge funds.

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.