Becton, Dickinson and Company (NYSE:BDX) Short Interest Down 21.0% in February

Becton, Dickinson and Company (NYSE:BDX) saw a significant decline in short interest in February. As of February 28th, there was short interest totalling 2,940,000 shares, a decline of 21.0% from the February 13th total of 3,720,000 shares. Based on an average daily trading volume, of 2,080,000 shares, the short-interest ratio is currently 1.4 days. Currently, 1.0% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BDX. StockNews.com raised shares of Becton, Dickinson and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, March 5th. Barclays raised their price target on Becton, Dickinson and Company from $278.00 to $279.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Finally, Piper Sandler upped their price objective on 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, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $278.29.

Becton, Dickinson and Company Trading Down 0.2 %

Shares of NYSE:BDX traded down $0.38 on Monday, hitting $225.60. 483,958 shares of the company’s stock were exchanged, compared to its average volume of 1,510,809. Becton, Dickinson and Company has a 12 month low of $218.75 and a 12 month high of $251.99. The stock has a market capitalization of $64.78 billion, a price-to-earnings ratio of 37.48, a price-to-earnings-growth ratio of 1.63 and a beta of 0.35. The business’s 50 day simple moving average is $232.78 and its two-hundred day simple moving average is $232.29. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.13 and a quick ratio of 0.63.

Becton, Dickinson and Company (NYSE:BDX) last announced its quarterly earnings results on Wednesday, February 5th. The medical instruments supplier reported $3.43 EPS for the quarter, beating the consensus estimate 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%. Analysts anticipate that Becton, Dickinson and Company will post 14.43 EPS for the current fiscal year.

Becton, Dickinson and Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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 1.84%. Becton, Dickinson and Company’s dividend payout ratio is currently 69.10%.

Becton, Dickinson and Company declared that its Board of Directors has approved 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. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In related news, Director Bertram L. Scott sold 700 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $227.99, for a total transaction of $159,593.00. Following the sale, the director now owns 36,033 shares in the company, valued at approximately $8,215,163.67. This represents a 1.91 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Richard Byrd sold 1,940 shares of Becton, Dickinson and Company stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $224.91, for a total transaction of $436,325.40. Following the transaction, the executive vice president now directly owns 7,411 shares of the company’s stock, valued at $1,666,808.01. The trade was a 20.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,363 shares of company stock worth $1,676,105. Corporate insiders own 0.36% of the company’s stock.

Hedge Funds Weigh In On Becton, Dickinson and Company

Institutional investors have recently made changes to their positions in the company. Bank of Jackson Hole Trust purchased a new position in shares of Becton, Dickinson and Company during the fourth quarter valued at $25,000. Sierra Ocean LLC purchased a new position in Becton, Dickinson and Company in the fourth quarter valued at about $29,000. REAP Financial Group LLC grew 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 purchasing an additional 55 shares during the last quarter. Picton Mahoney Asset Management grew its stake in Becton, Dickinson and Company by 61.4% in the fourth quarter. Picton Mahoney Asset Management now owns 142 shares of the medical instruments supplier’s stock valued at $32,000 after purchasing an additional 54 shares during the last quarter. Finally, Hopwood Financial Services Inc. purchased a new position in Becton, Dickinson and Company in the fourth quarter valued at about $39,000. Hedge funds and other 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.