Barclays Cuts Becton, Dickinson and Company (NYSE:BDX) Price Target to $261.00

Becton, Dickinson and Company (NYSE:BDX) had its price objective lowered by Barclays from $279.00 to $261.00 in a report published on Monday,Benzinga reports. The firm currently has an overweight rating on the medical instruments supplier’s stock.

Several other analysts have also recently issued reports on the company. StockNews.com raised Becton, Dickinson and Company from a “hold” rating to a “buy” rating in a report on Wednesday, April 2nd. Piper Sandler lifted 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. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Becton, Dickinson and Company currently has an average rating of “Buy” and an average price target of $275.71.

Becton, Dickinson and Company Stock Performance

NYSE BDX opened at $209.57 on Monday. The business has a 50-day moving average price of $225.75 and a 200-day moving average price of $230.36. The firm has a market cap of $60.17 billion, a price-to-earnings ratio of 34.81, a price-to-earnings-growth ratio of 1.63 and a beta of 0.35. Becton, Dickinson and Company has a twelve month low of $193.03 and a twelve month high of $251.99. 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 announced its quarterly earnings data on Wednesday, February 5th. The medical instruments supplier reported $3.43 earnings per share (EPS) for the quarter, beating 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%. As a group, equities research analysts predict that Becton, Dickinson and Company will post 14.43 EPS for the current fiscal year.

Becton, Dickinson and Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were issued a dividend of $1.04 per share. The ex-dividend date was Monday, March 10th. This represents a $4.16 annualized dividend and a yield of 1.99%. Becton, Dickinson and Company’s payout ratio is 69.10%.

Becton, Dickinson and Company declared that its board has initiated a share buyback plan on Tuesday, January 28th that allows the company to buyback 10,000,000 shares. This buyback authorization allows the medical instruments supplier to buy shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Becton, Dickinson and Company

In related news, Director Jeffrey William Henderson bought 1,500 shares of the company’s stock in a transaction on Monday, February 10th. The shares were acquired at an average cost of $233.62 per share, for a total transaction of $350,430.00. Following the purchase, the director now directly owns 8,015 shares of the company’s stock, valued at approximately $1,872,464.30. The trade was a 23.02 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Richard Byrd sold 1,940 shares of Becton, Dickinson and Company stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $224.91, for a total transaction of $436,325.40. Following the sale, the executive vice president now directly owns 7,411 shares of the company’s stock, valued at $1,666,808.01. This represents a 20.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,196 shares of company stock valued at $962,685 in the last quarter. 0.36% of the stock is owned by insiders.

Institutional Trading of Becton, Dickinson and Company

Several institutional investors and hedge funds have recently made changes to their positions in BDX. Bank of Jackson Hole Trust purchased a new position in Becton, Dickinson and Company during the 4th quarter valued at about $25,000. Sierra Ocean LLC purchased a new position in Becton, Dickinson and Company during the fourth quarter valued at approximately $29,000. REAP Financial Group LLC raised 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 worth $29,000 after buying an additional 55 shares in the last quarter. Picton Mahoney Asset Management lifted its holdings 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 buying an additional 54 shares during the period. Finally, Nexus Investment Management ULC bought a new stake in Becton, Dickinson and Company during the 1st quarter valued at $34,000. 86.97% of the stock is currently owned by institutional investors.

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.