Becton, Dickinson and Company (NYSE:BDX) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Becton, Dickinson and Company (NYSE:BDX) from a hold rating to a buy rating in a research report report published on Wednesday.

Other analysts have also issued reports about the stock. Barclays increased their target price on shares of Becton, Dickinson and Company from $278.00 to $279.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Piper Sandler increased their price objective on Becton, Dickinson and Company from $275.00 to $280.00 and gave the stock an “overweight” rating in a report on Tuesday, January 28th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Becton, Dickinson and Company has an average rating of “Buy” and an average price target of $278.29.

Becton, Dickinson and Company Price Performance

Shares of Becton, Dickinson and Company stock opened at $208.03 on Wednesday. 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 has a one year low of $204.95 and a one year high of $251.99. The business’s 50 day simple moving average is $230.06 and its two-hundred day simple moving average is $231.33. The stock has a market capitalization of $59.73 billion, a P/E ratio of 34.56, a price-to-earnings-growth ratio of 1.63 and a beta of 0.35.

Becton, Dickinson and Company (NYSE:BDX) last issued its earnings results on Wednesday, February 5th. The medical instruments supplier reported $3.43 EPS for the quarter, topping 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%. Analysts forecast that Becton, Dickinson and Company will post 14.43 EPS for the current year.

Becton, Dickinson and Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were issued a dividend of $1.04 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 2.00%. Becton, Dickinson and Company’s dividend payout ratio (DPR) is 69.10%.

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

Insider Activity

In related news, EVP David Shan sold 500 shares of Becton, Dickinson and Company stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $240.00, for a total transaction of $120,000.00. Following the completion of the transaction, the executive vice president now directly owns 5,741 shares of the company’s stock, valued at $1,377,840. This trade represents a 8.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Richard Byrd sold 459 shares of the company’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $230.00, for a total transaction of $105,570.00. Following the completion of the sale, the executive vice president now owns 6,952 shares in the company, valued at approximately $1,598,960. This trade represents a 6.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,984 shares of company stock worth $1,147,865 in the last quarter. 0.36% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. raised its position in shares of Becton, Dickinson and Company by 1.5% in the 3rd quarter. Principal Financial Group Inc. now owns 1,179,715 shares of the medical instruments supplier’s stock worth $284,429,000 after purchasing an additional 16,918 shares during the last quarter. Public Sector Pension Investment Board lifted its stake in shares of Becton, Dickinson and Company by 12.5% in the third quarter. Public Sector Pension Investment Board now owns 12,566 shares of the medical instruments supplier’s stock worth $3,030,000 after buying an additional 1,400 shares in the last quarter. Erste Asset Management GmbH purchased a new stake in shares of Becton, Dickinson and Company during the third quarter valued at approximately $1,207,000. Ascent Group LLC bought a new stake in shares of Becton, Dickinson and Company during the third quarter valued at approximately $247,000. Finally, Hilltop Holdings Inc. raised its holdings in Becton, Dickinson and Company by 9.6% in the 3rd quarter. Hilltop Holdings Inc. now owns 5,357 shares of the medical instruments supplier’s stock worth $1,292,000 after acquiring an additional 470 shares during the last quarter. 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.