Becton, Dickinson and Company (NYSE:BDX) Trading 1% Higher – Here’s Why

Becton, Dickinson and Company (NYSE:BDX)’s share price was up 1% during mid-day trading on Friday . The company traded as high as $227.53 and last traded at $227.51. Approximately 268,181 shares were traded during trading, a decline of 82% from the average daily volume of 1,498,928 shares. The stock had previously closed at $225.34.

Analyst Ratings Changes

BDX has been the topic of a number of recent analyst reports. Barclays boosted their target price on shares of Becton, Dickinson and Company from $278.00 to $279.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Piper Sandler boosted 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, StockNews.com upgraded shares of Becton, Dickinson and Company from a “hold” rating to a “buy” rating in a research note on Wednesday. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $278.29.

Becton, Dickinson and Company Price Performance

The company has a market capitalization of $65.90 billion, a P/E ratio of 38.12, a price-to-earnings-growth ratio of 1.63 and a beta of 0.35. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.13 and a quick ratio of 0.63. The company’s 50-day moving average price is $232.98 and its two-hundred day moving average price is $232.72.

Becton, Dickinson and Company (NYSE:BDX) last issued its quarterly earnings data on Wednesday, February 5th. The medical instruments supplier reported $3.43 earnings per share (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%. As a group, sell-side analysts expect that Becton, Dickinson and Company will post 14.43 EPS for the current year.

Becton, Dickinson and Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a $1.04 dividend. The ex-dividend date is Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.81%. Becton, Dickinson and Company’s payout ratio is presently 69.10%.

Becton, Dickinson and Company declared that its board has approved a share repurchase program on Tuesday, January 28th that allows the company to buyback 10,000,000 outstanding shares. This buyback authorization allows the medical instruments supplier to repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, EVP David Shan sold 500 shares of the stock in a transaction that occurred 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 sale, the executive vice president now owns 5,741 shares of the company’s stock, valued at $1,377,840. This represents a 8.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Bertram L. Scott sold 700 shares of Becton, Dickinson and Company stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $227.99, for a total value of $159,593.00. Following the completion of the transaction, the director now directly owns 36,033 shares of the company’s stock, valued at $8,215,163.67. This represents a 1.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,061 shares of company stock valued at $1,379,521. 0.36% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BDX. Bank of Jackson Hole Trust bought a new position in Becton, Dickinson and Company in the 4th quarter valued at about $25,000. REAP Financial Group LLC increased its stake in Becton, Dickinson and Company by 75.3% in the fourth quarter. REAP Financial Group LLC now owns 128 shares of the medical instruments supplier’s stock valued at $29,000 after acquiring an additional 55 shares during the last quarter. Sierra Ocean LLC acquired a new position in Becton, Dickinson and Company during the fourth quarter valued at approximately $29,000. Ashton Thomas Securities LLC acquired a new position in Becton, Dickinson and Company during the third quarter valued at approximately $33,000. Finally, Picton Mahoney Asset Management lifted its stake in Becton, Dickinson and Company by 61.4% during the fourth quarter. Picton Mahoney Asset Management now owns 142 shares of the medical instruments supplier’s stock worth $32,000 after purchasing an additional 54 shares during the last quarter. 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.