Becton, Dickinson and Company (NYSE:BDX) Shares Down 0.6% – Here’s Why

Shares of Becton, Dickinson and Company (NYSE:BDX) fell 0.6% during trading on Wednesday . The stock traded as low as $225.82 and last traded at $228.74. 305,717 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 2,012,353 shares. The stock had previously closed at $230.05.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. StockNews.com downgraded Becton, Dickinson and Company from a “buy” rating to a “hold” rating in a report on Tuesday. Piper Sandler boosted their price target on 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, Barclays upped 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 research note on Friday, February 14th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $278.29.

Becton, Dickinson and Company Price Performance

The stock has a market cap of $65.36 billion, a price-to-earnings ratio of 37.81, a price-to-earnings-growth ratio of 1.63 and a beta of 0.40. The company’s 50-day moving average is $233.05 and its 200-day moving average is $233.21. The company has a quick ratio of 0.63, a current ratio of 1.13 and a debt-to-equity ratio of 0.69.

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, topping analysts’ consensus estimates 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 research analysts expect that Becton, Dickinson and Company will post 14.43 earnings per share for the current fiscal year.

Becton, Dickinson and Company Dividend Announcement

The company 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. The ex-dividend date is Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a yield of 1.83%. Becton, Dickinson and Company’s payout ratio is 69.10%.

Becton, Dickinson and Company announced that its Board of Directors has authorized a stock repurchase program on Tuesday, January 28th that allows the company to repurchase 10,000,000 shares. This repurchase authorization allows the medical instruments supplier to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at Becton, Dickinson and Company

In related news, Director Bertram L. Scott sold 700 shares of the stock in a transaction on Wednesday, February 12th. The stock was 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 $8,215,163.67. This trade represents a 1.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP David Shan sold 500 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $240.00, for a total value of $120,000.00. Following the completion of the transaction, the executive vice president now owns 5,741 shares of the company’s stock, valued at $1,377,840. This trade represents a 8.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,544 shares of company stock valued at $2,370,309 over the last quarter. 0.36% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Becton, Dickinson and Company

Several hedge funds have recently bought and sold shares of the business. Virtue Capital Management LLC raised its stake in shares of Becton, Dickinson and Company by 34.9% in the fourth quarter. Virtue Capital Management LLC now owns 1,894 shares of the medical instruments supplier’s stock worth $430,000 after buying an additional 490 shares during the period. Leigh Baldwin & CO. LLC acquired a new position in shares of Becton, Dickinson and Company during the fourth quarter worth $361,000. Cypress Asset Management Inc. TX purchased a new stake in Becton, Dickinson and Company during the 4th quarter worth approximately $1,194,000. Aurdan Capital Management LLC acquired a new position in Becton, Dickinson and Company in the 4th quarter worth approximately $493,000. Finally, Forum Financial Management LP grew its position in Becton, Dickinson and Company by 58.6% during the 4th quarter. Forum Financial Management LP now owns 3,912 shares of the medical instruments supplier’s stock worth $888,000 after purchasing an additional 1,445 shares during the period. Institutional investors 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.