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

Becton, Dickinson and Company (NYSE:BDX) was up 0.6% during trading on Tuesday . The stock traded as high as $229.18 and last traded at $229.13. Approximately 187,737 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 1,510,315 shares. The stock had previously closed at $227.83.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. StockNews.com upgraded shares of Becton, Dickinson and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, March 5th. Barclays raised their price target on Becton, Dickinson and Company from $278.00 to $279.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Finally, Piper Sandler upped their price objective on 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. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $278.29.

Becton, Dickinson and Company Stock Performance

The company has a market cap of $66.37 billion, a P/E ratio of 38.39, a PEG ratio of 1.63 and a beta of 0.35. The stock has a fifty day moving average price of $232.72 and a two-hundred day moving average price of $232.19. 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 announced its quarterly earnings results on Wednesday, February 5th. The medical instruments supplier reported $3.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.00 by $0.43. Becton, Dickinson and Company had a return on equity of 15.74% and a net margin of 8.47%. On average, equities analysts forecast that Becton, Dickinson and Company will post 14.43 earnings per share for the current fiscal year.

Becton, Dickinson and Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a $1.04 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a yield of 1.80%. Becton, Dickinson and Company’s dividend payout ratio is presently 69.10%.

Becton, Dickinson and Company announced that its Board of Directors has authorized a share repurchase program on Tuesday, January 28th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the medical instruments supplier to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Becton, Dickinson and Company

In other news, EVP Michael David Garrison sold 2,838 shares of the company’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $223.33, for a total value of $633,810.54. Following the completion of the sale, the executive vice president now owns 6,141 shares in the company, valued at $1,371,469.53. This represents a 31.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Bertram L. Scott sold 700 shares of Becton, Dickinson and Company stock in a transaction dated 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 approximately $8,215,163.67. The trade was a 1.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 7,363 shares of company stock valued at $1,676,105. Company insiders own 0.36% of the company’s stock.

Hedge Funds Weigh In On Becton, Dickinson and Company

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