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

Becton, Dickinson and Company (NYSE:BDX) shares were up 1% during mid-day trading on Friday . The stock traded as high as $227.53 and last traded at $227.51. Approximately 268,181 shares changed hands during mid-day 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

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

Becton, Dickinson and Company Stock Performance

The company has a current ratio of 1.13, a quick ratio of 0.63 and a debt-to-equity ratio of 0.69. The stock’s 50 day moving average price is $232.96 and its two-hundred day moving average price is $232.78. The firm has a market capitalization of $65.92 billion, a PE ratio of 38.08, a PEG ratio of 1.63 and a beta of 0.40.

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

Becton, Dickinson and Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a dividend of $1.04 per share. The ex-dividend date is Monday, March 10th. This represents a $4.16 annualized dividend and a dividend yield of 1.81%. Becton, Dickinson and Company’s dividend payout ratio is currently 69.10%.

Becton, Dickinson and Company declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, January 28th that permits the company to buyback 10,000,000 outstanding shares. This buyback authorization permits the medical instruments supplier to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other news, Director Bertram L. Scott sold 700 shares of the company’s stock in a transaction dated 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. This represents a 1.91 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Roland Goette sold 638 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $219.03, for a total transaction of $139,741.14. Following the completion of the sale, the executive vice president now directly owns 14,217 shares in the company, valued at $3,113,949.51. This represents a 4.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,061 shares of company stock worth $1,379,521. 0.36% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Van ECK Associates Corp raised its stake in shares of Becton, Dickinson and Company by 2.4% in the 3rd quarter. Van ECK Associates Corp now owns 14,288 shares of the medical instruments supplier’s stock valued at $3,437,000 after acquiring an additional 339 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings in Becton, Dickinson and Company by 62.0% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 42,013 shares of the medical instruments supplier’s stock valued at $10,129,000 after purchasing an additional 16,074 shares in the last quarter. Crestwood Advisors Group LLC purchased a new stake in Becton, Dickinson and Company during the 3rd quarter worth $222,000. Avidian Wealth Enterprises LLC boosted its position in Becton, Dickinson and Company by 23.8% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 1,271 shares of the medical instruments supplier’s stock valued at $306,000 after buying an additional 244 shares during the last quarter. Finally, Radnor Capital Management LLC grew its stake in shares of Becton, Dickinson and Company by 1.7% during the third quarter. Radnor Capital Management LLC now owns 2,937 shares of the medical instruments supplier’s stock valued at $708,000 after acquiring an additional 48 shares in the last quarter. Hedge funds and other 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.