Becton, Dickinson and Company (NYSE:BDX) Sees Significant Decline in Short Interest

Becton, Dickinson and Company (NYSE:BDX) saw a large decrease in short interest in the month of September. As of September 30th, there was short interest totalling 1,780,000 shares, a decrease of 38.4% from the September 15th total of 2,890,000 shares. Based on an average daily volume of 1,440,000 shares, the days-to-cover ratio is currently 1.2 days.

Several brokerages have weighed in on BDX. Morgan Stanley cut their price target on Becton, Dickinson and from $285.00 to $270.00 and set an “equal weight” rating on the stock in a report on Thursday, August 27th. Goldman Sachs Group upgraded Becton, Dickinson and from a “buy” rating to a “conviction-buy” rating in a report on Friday, October 2nd. UBS Group upped their price target on Becton, Dickinson and from $265.00 to $280.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. Raymond James cut their price target on Becton, Dickinson and from $285.00 to $270.00 and set an “outperform” rating on the stock in a report on Monday, October 12th. Finally, Barclays raised Becton, Dickinson and from an “equal weight” rating to an “overweight” rating and set a $300.00 price objective for the company in a research report on Thursday, July 9th. One analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $278.47.

Shares of NYSE BDX traded up $1.98 during trading hours on Friday, reaching $236.99. The stock had a trading volume of 1,055,055 shares, compared to its average volume of 1,931,858. The firm has a market cap of $68.70 billion, a price-to-earnings ratio of 85.25, a PEG ratio of 2.36 and a beta of 0.84. The company has a current ratio of 1.45, a quick ratio of 0.97 and a debt-to-equity ratio of 0.71. Becton, Dickinson and has a fifty-two week low of $197.75 and a fifty-two week high of $286.72. The firm has a 50-day moving average of $233.68 and a 200-day moving average of $247.53.

Becton, Dickinson and (NYSE:BDX) last announced its earnings results on Thursday, August 6th. The medical instruments supplier reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.16. The firm had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.96 billion. Becton, Dickinson and had a return on equity of 14.19% and a net margin of 5.30%. The business’s revenue was down 11.4% on a year-over-year basis. During the same period in the prior year, the firm earned $3.08 EPS. On average, equities analysts predict that Becton, Dickinson and will post 9.9 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Wednesday, September 9th were given a $0.79 dividend. The ex-dividend date was Tuesday, September 8th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.33%. Becton, Dickinson and’s dividend payout ratio (DPR) is presently 27.05%.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Ropes Wealth Advisors LLC boosted its position in shares of Becton, Dickinson and by 6.8% in the 3rd quarter. Ropes Wealth Advisors LLC now owns 7,478 shares of the medical instruments supplier’s stock valued at $1,740,000 after purchasing an additional 475 shares during the period. Cardinal Capital Management lifted its position in Becton, Dickinson and by 0.9% during the 3rd quarter. Cardinal Capital Management now owns 20,425 shares of the medical instruments supplier’s stock worth $4,752,000 after acquiring an additional 177 shares during the period. IBM Retirement Fund lifted its position in Becton, Dickinson and by 38.5% during the 3rd quarter. IBM Retirement Fund now owns 9,576 shares of the medical instruments supplier’s stock worth $2,228,000 after acquiring an additional 2,664 shares during the period. Spearhead Capital Advisors LLC lifted its position in Becton, Dickinson and by 3.2% during the 3rd quarter. Spearhead Capital Advisors LLC now owns 21,961 shares of the medical instruments supplier’s stock worth $5,110,000 after acquiring an additional 678 shares during the period. Finally, Atlantic Union Bankshares Corp lifted its position in Becton, Dickinson and by 22.0% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 29,407 shares of the medical instruments supplier’s stock worth $6,842,000 after acquiring an additional 5,311 shares during the period. 84.18% of the stock is owned by hedge funds and other institutional investors.

About Becton, Dickinson and

Becton, Dickinson and Company develops, manufactures, and sells medical supplies, devices, laboratory equipment, and diagnostic products worldwide. The company's BD Medical segment offers peripheral IV and advanced peripheral catheters, central lines, acute dialysis catheters, vascular care and preparation products, needle-free IV connectors and extensions sets, IV fluids, closed-system drug transfer devices, hazardous drug detection, hypodermic syringes and needles, anesthesia needles and trays, enteral syringes, sharps disposal systems; infusion pumps and dedicated disposables, medication compounding workflow systems, automated medication dispensing, automated supply management systems, medication inventory optimization and tracking systems; syringes, pen needles, and other products for diabetes care; and prefillable drug delivery systems.

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