Becton, Dickinson and Company (NYSE:BDX) Stock Price Down 0.5% – Here’s Why

Becton, Dickinson and Company (NYSE:BDX) shares dropped 0.5% during trading on Wednesday . The stock traded as low as $222.35 and last traded at $223.18. Approximately 269,952 shares traded hands during trading, a decline of 82% from the average daily volume of 1,494,741 shares. The stock had previously closed at $224.27.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on BDX shares. StockNews.com upgraded Becton, Dickinson and Company from a “hold” rating to a “buy” rating in a report on Wednesday. Barclays raised their price target on shares of Becton, Dickinson and Company from $278.00 to $279.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Finally, Piper Sandler upped their price objective on shares of 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. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $278.29.

Becton, Dickinson and Company Price Performance

The stock has a market cap of $65.90 billion, a PE ratio of 38.12, a price-to-earnings-growth ratio of 1.63 and a beta of 0.40. The stock’s fifty day moving average is $232.96 and its 200-day moving average is $232.78. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.13 and a quick ratio of 0.63.

Becton, Dickinson and Company (NYSE:BDX) last posted its quarterly earnings results on Wednesday, February 5th. The medical instruments supplier reported $3.43 earnings per share for the quarter, beating 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, equities analysts anticipate that Becton, Dickinson and Company will post 14.43 EPS for the current year.

Becton, Dickinson and Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a $1.04 dividend. The ex-dividend date is Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a yield of 1.81%. Becton, Dickinson and Company’s dividend payout ratio is currently 69.10%.

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

Insider Buying and Selling

In related news, EVP David Shan sold 500 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $240.00, for a total transaction of $120,000.00. Following the completion of the transaction, the executive vice president now directly owns 5,741 shares in the company, valued at $1,377,840. This trade represents a 8.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Shana Carol Neal sold 788 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $235.00, for a total transaction of $185,180.00. Following the sale, the executive vice president now directly owns 16,201 shares in the company, valued at approximately $3,807,235. The trade was a 4.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,061 shares of company stock valued at $1,379,521. 0.36% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp raised its stake in Becton, Dickinson and Company by 2.4% in the third quarter. Van ECK Associates Corp now owns 14,288 shares of the medical instruments supplier’s stock valued at $3,437,000 after buying an additional 339 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of Becton, Dickinson and Company by 62.0% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 42,013 shares of the medical instruments supplier’s stock worth $10,129,000 after acquiring an additional 16,074 shares in the last quarter. Crestwood Advisors Group LLC purchased a new stake in Becton, Dickinson and Company during the third quarter worth approximately $222,000. Avidian Wealth Enterprises LLC boosted its holdings in Becton, Dickinson and Company by 23.8% in the third quarter. Avidian Wealth Enterprises LLC now owns 1,271 shares of the medical instruments supplier’s stock valued at $306,000 after purchasing an additional 244 shares in the last quarter. Finally, Radnor Capital Management LLC increased its stake in Becton, Dickinson and Company by 1.7% in the third quarter. Radnor Capital Management LLC now owns 2,937 shares of the medical instruments supplier’s stock valued at $708,000 after purchasing an additional 48 shares during the last quarter. Hedge funds and other institutional investors own 86.97% of the company’s stock.

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.