Short Interest in Becton, Dickinson and Company (NYSE:BDX) Decreases By 22.0%

Becton, Dickinson and Company (NYSE:BDX) was the target of a large drop in short interest in January. As of January 31st, there was short interest totalling 2,700,000 shares, a drop of 22.0% from the January 15th total of 3,460,000 shares. Based on an average daily trading volume, of 2,180,000 shares, the short-interest ratio is presently 1.2 days. Currently, 0.9% of the company’s stock are sold short.

Insider Activity

In related news, EVP Roland Goette sold 4,483 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $221.01, for a total transaction of $990,787.83. Following the transaction, the executive vice president now directly owns 24,345 shares of the company’s stock, valued at $5,380,488.45. This represents a 15.55 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Shana Carol Neal sold 788 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $235.00, for a total value of $185,180.00. Following the completion of the sale, the executive vice president now directly owns 16,201 shares of the company’s stock, valued at approximately $3,807,235. This represents a 4.64 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,544 shares of company stock worth $2,370,309. Corporate insiders own 0.36% of the company’s stock.

Institutional Investors Weigh In On Becton, Dickinson and Company

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Brighton Jones LLC grew its position in Becton, Dickinson and Company by 98.2% during the fourth quarter. Brighton Jones LLC now owns 1,770 shares of the medical instruments supplier’s stock valued at $401,000 after buying an additional 877 shares during the period. E. Ohman J or Asset Management AB boosted its stake in shares of Becton, Dickinson and Company by 13.4% during the 4th quarter. E. Ohman J or Asset Management AB now owns 176,097 shares of the medical instruments supplier’s stock worth $39,951,000 after acquiring an additional 20,859 shares in the last quarter. Arete Wealth Advisors LLC acquired a new stake in shares of Becton, Dickinson and Company during the 3rd quarter valued at about $767,000. Busey Bank increased its stake in shares of Becton, Dickinson and Company by 3.8% in the 4th quarter. Busey Bank now owns 66,255 shares of the medical instruments supplier’s stock valued at $15,031,000 after purchasing an additional 2,399 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Becton, Dickinson and Company by 79.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,986,543 shares of the medical instruments supplier’s stock worth $720,089,000 after purchasing an additional 1,317,723 shares during the period. Institutional investors and hedge funds own 86.97% of the company’s stock.

Becton, Dickinson and Company Stock Down 0.1 %

BDX stock opened at $224.89 on Friday. The company has a market capitalization of $65.22 billion, a P/E ratio of 37.36, a price-to-earnings-growth ratio of 1.65 and a beta of 0.40. Becton, Dickinson and Company has a 12 month low of $218.75 and a 12 month high of $251.99. The firm’s fifty day simple moving average is $232.50 and its 200-day simple moving average is $233.82. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.13 and a quick ratio of 0.74.

Becton, Dickinson and Company (NYSE:BDX) last posted its quarterly earnings results on Wednesday, February 5th. The medical instruments supplier reported $3.43 EPS 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 research analysts forecast that Becton, Dickinson and Company will post 14.41 earnings per share for the current year.

Becton, Dickinson and Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 1.85%. 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 announced that its board has approved a stock buyback program 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. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BDX. StockNews.com upgraded shares of Becton, Dickinson and Company from a “hold” rating to a “buy” rating in a research note on Wednesday. Piper Sandler lifted their price objective on shares of Becton, Dickinson and Company from $275.00 to $280.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 28th. Finally, Barclays upped their target price on Becton, Dickinson and Company from $278.00 to $279.00 and gave the company an “overweight” rating in a research report on Friday. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Becton, Dickinson and Company presently has an average rating of “Buy” and a consensus target price of $278.29.

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.