Becton, Dickinson and Company (NYSE:BDX) Stock Price Up 2.4% – Here’s Why

Becton, Dickinson and Company (NYSE:BDX) shares rose 2.4% during mid-day trading on Monday . The stock traded as high as $235.00 and last traded at $233.88. Approximately 624,266 shares were traded during trading, a decline of 58% from the average daily volume of 1,499,373 shares. The stock had previously closed at $228.50.

Analyst Ratings Changes

BDX has been the subject of several recent research reports. Barclays upped 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 report on Friday, February 14th. Piper Sandler upped their target price on shares of Becton, Dickinson and Company from $275.00 to $280.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 28th. Finally, StockNews.com raised Becton, Dickinson and Company from a “hold” rating to a “buy” rating in a report on Wednesday, March 5th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Becton, Dickinson and Company currently has a consensus rating of “Buy” and a consensus price target of $278.29.

Becton, Dickinson and Company Trading Down 1.0 %

The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.63 and a current ratio of 1.13. The company has a market capitalization of $64.65 billion, a price-to-earnings ratio of 37.40, a price-to-earnings-growth ratio of 1.63 and a beta of 0.35. The business’s 50 day moving average price is $232.96 and its two-hundred day moving average price is $232.57.

Becton, Dickinson and Company (NYSE:BDX) last issued its quarterly 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%. Equities analysts forecast that Becton, Dickinson and Company will post 14.43 earnings per share for the current fiscal year.

Becton, Dickinson and Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date is Monday, March 10th. Becton, Dickinson and Company’s payout ratio is 69.10%.

Becton, Dickinson and Company declared that its board has initiated a stock buyback plan on Tuesday, January 28th that authorizes the company to repurchase 10,000,000 outstanding shares. This repurchase authorization authorizes the medical instruments supplier to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Insider Activity

In related news, EVP David Shan sold 500 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $240.00, for a total transaction of $120,000.00. Following the transaction, the executive vice president now directly owns 5,741 shares of the company’s stock, valued at approximately $1,377,840. The trade was a 8.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bertram L. Scott sold 700 shares of Becton, Dickinson and Company stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $227.99, for a total value of $159,593.00. Following the transaction, the director now directly owns 36,033 shares in the company, valued at approximately $8,215,163.67. This trade represents a 1.91 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,423 shares of company stock worth $1,239,780. Insiders own 0.36% of the company’s stock.

Hedge Funds Weigh In On Becton, Dickinson and Company

A number of hedge funds have recently added to or reduced their stakes in BDX. Vanguard Group Inc. increased its stake in shares of Becton, Dickinson and Company by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 26,743,052 shares of the medical instruments supplier’s stock worth $6,067,196,000 after purchasing an additional 184,288 shares during the last quarter. State Street Corp boosted its holdings in Becton, Dickinson and Company by 0.8% in the third quarter. State Street Corp now owns 13,953,116 shares of the medical instruments supplier’s stock worth $3,364,096,000 after purchasing an additional 106,616 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its position in Becton, Dickinson and Company by 36.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 12,126,707 shares of the medical instruments supplier’s stock worth $2,751,187,000 after buying an additional 3,219,317 shares during the last quarter. Geode Capital Management LLC raised its holdings in Becton, Dickinson and Company by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 6,351,537 shares of the medical instruments supplier’s stock valued at $1,437,161,000 after buying an additional 66,024 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Becton, Dickinson and Company by 15.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 6,175,899 shares of the medical instruments supplier’s stock worth $1,401,126,000 after buying an additional 810,345 shares during the last quarter. Institutional investors and hedge funds own 86.97% of the company’s stock.

Becton, Dickinson and Company Company Profile

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.