Becton, Dickinson and Company (NYSE:BDX) Shares Up 0.8% – Here’s Why

Becton, Dickinson and Company (NYSE:BDX)’s stock price shot up 0.8% during mid-day trading on Thursday . The stock traded as high as $224.80 and last traded at $225.88. 278,862 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 1,496,859 shares. The stock had previously closed at $224.12.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BDX. StockNews.com raised shares of Becton, Dickinson and Company from a “hold” rating to a “buy” rating in a report on Wednesday. Barclays lifted their price target on Becton, Dickinson and Company from $278.00 to $279.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Finally, Piper Sandler raised their price objective on shares of Becton, Dickinson and Company from $275.00 to $280.00 and gave the company an “overweight” rating in a research report on Tuesday, January 28th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $278.29.

Becton, Dickinson and Company Stock Performance

The company has a quick ratio of 0.63, a current ratio of 1.13 and a debt-to-equity ratio of 0.69. The stock has a market cap of $64.62 billion, a P/E ratio of 37.38, a price-to-earnings-growth ratio of 1.63 and a beta of 0.40. The firm’s 50-day moving average is $233.02 and its two-hundred day moving average is $232.83.

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

Becton, Dickinson and Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend is Monday, March 10th. Becton, Dickinson and Company’s dividend payout ratio is 69.10%.

Becton, Dickinson and Company announced that its board has authorized a stock buyback program on Tuesday, January 28th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the medical instruments supplier to purchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other Becton, Dickinson and Company news, Director Bertram L. Scott sold 700 shares of the business’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $227.99, for a total transaction of $159,593.00. Following the completion of the transaction, the director now owns 36,033 shares of the company’s stock, valued at $8,215,163.67. The trade was a 1.91 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Roland Goette sold 4,483 shares of Becton, Dickinson and Company stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $221.01, for a total value of $990,787.83. Following the completion of the transaction, the executive vice president now owns 24,345 shares in the company, valued at $5,380,488.45. The trade was a 15.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,544 shares of company stock valued at $2,370,309 over the last 90 days. 0.36% of the stock is currently owned by company insiders.

Institutional Trading of Becton, Dickinson and Company

Several hedge funds have recently added to or reduced their stakes in BDX. Vanguard Group Inc. increased its position in Becton, Dickinson and Company by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 26,743,052 shares of the medical instruments supplier’s stock worth $6,067,196,000 after acquiring an additional 184,288 shares during the period. State Street Corp grew its position in Becton, Dickinson and Company by 0.8% in the 3rd quarter. State Street Corp now owns 13,953,116 shares of the medical instruments supplier’s stock worth $3,364,096,000 after purchasing an additional 106,616 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of Becton, Dickinson and Company by 36.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 12,126,707 shares of the medical instruments supplier’s stock worth $2,751,187,000 after purchasing an additional 3,219,317 shares during the period. Geode Capital Management LLC raised its position in shares of Becton, Dickinson and Company by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 6,351,537 shares of the medical instruments supplier’s stock valued at $1,437,161,000 after buying an additional 66,024 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Becton, Dickinson and Company by 15.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 6,175,899 shares of the medical instruments supplier’s stock valued at $1,401,126,000 after buying an additional 810,345 shares during the period. Institutional investors 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.