Piper Sandler Forecasts Strong Price Appreciation for Becton, Dickinson and Company (NYSE:BDX) Stock

Becton, Dickinson and Company (NYSE:BDX) had its price target raised by Piper Sandler from $275.00 to $280.00 in a report released on Tuesday,Benzinga reports. Piper Sandler currently has an overweight rating on the medical instruments supplier’s stock.

Several other research firms have also weighed in on BDX. Evercore ISI upped their price objective on Becton, Dickinson and Company from $286.00 to $290.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. StockNews.com cut Becton, Dickinson and Company from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Finally, Citigroup raised Becton, Dickinson and Company from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $255.00 to $275.00 in a report on Tuesday, October 1st. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Becton, Dickinson and Company presently has an average rating of “Moderate Buy” and a consensus target price of $283.00.

Becton, Dickinson and Company Stock Performance

Shares of NYSE BDX opened at $248.34 on Tuesday. The firm has a market capitalization of $72.02 billion, a price-to-earnings ratio of 41.81, a PEG ratio of 1.72 and a beta of 0.39. Becton, Dickinson and Company has a one year low of $218.75 and a one year high of $250.91. The business has a fifty day simple moving average of $229.59 and a 200 day simple moving average of $233.55. The company has a current ratio of 1.17, a quick ratio of 0.74 and a debt-to-equity ratio of 0.69.

Becton, Dickinson and Company (NYSE:BDX) last released its quarterly earnings data on Thursday, November 7th. The medical instruments supplier reported $3.81 EPS for the quarter, topping analysts’ consensus estimates of $3.77 by $0.04. The company had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.38 billion. Becton, Dickinson and Company had a net margin of 8.55% and a return on equity of 14.89%. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period last year, the firm earned $3.42 EPS. Sell-side analysts expect that Becton, Dickinson and Company will post 14.42 EPS for the current year.

Becton, Dickinson and Company declared that its Board of Directors has initiated a stock buyback program on Tuesday, January 28th that authorizes the company to buyback 10,000,000 outstanding shares. This buyback authorization authorizes the medical instruments supplier to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

Becton, Dickinson and Company Announces Dividend

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 paid 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 dividend yield of 1.68%. Becton, Dickinson and Company’s dividend payout ratio (DPR) is presently 70.03%.

Insiders Place Their Bets

In other news, EVP Michael David Garrison sold 597 shares of the company’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $236.51, for a total transaction of $141,196.47. Following the transaction, the executive vice president now owns 5,544 shares of the company’s stock, valued at $1,311,211.44. This represents a 9.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP David Shan sold 500 shares of Becton, Dickinson and Company stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $240.00, for a total value of $120,000.00. Following the completion of the sale, the executive vice president now owns 5,741 shares of the company’s stock, valued at approximately $1,377,840. The trade was a 8.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,844 shares of company stock valued at $2,210,716 in the last 90 days. 0.36% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Becton, Dickinson and Company

Institutional investors have recently modified their holdings of the business. Livelsberger Financial Advisory acquired a new position in Becton, Dickinson and Company in the third quarter valued at approximately $26,000. Ashton Thomas Securities LLC acquired a new position in shares of Becton, Dickinson and Company in the 3rd quarter valued at $33,000. Tompkins Financial Corp boosted its position in shares of Becton, Dickinson and Company by 44.2% in the 3rd quarter. Tompkins Financial Corp now owns 150 shares of the medical instruments supplier’s stock worth $36,000 after purchasing an additional 46 shares during the last quarter. Sound Income Strategies LLC grew its stake in shares of Becton, Dickinson and Company by 35.8% during the third quarter. Sound Income Strategies LLC now owns 167 shares of the medical instruments supplier’s stock worth $40,000 after purchasing an additional 44 shares during the period. Finally, Kennebec Savings Bank bought a new stake in Becton, Dickinson and Company in the third quarter valued at about $46,000. 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.