Becton, Dickinson and Company (NYSE:BDX) Shares Up 1.4% – Here’s Why

Shares of Becton, Dickinson and Company (NYSE:BDX) rose 1.4% during mid-day trading on Monday . The stock traded as high as $228.86 and last traded at $228.79. Approximately 309,132 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 2,002,728 shares. The stock had previously closed at $225.53.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on BDX shares. Piper Sandler boosted their price target on shares of 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. Barclays increased 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, StockNews.com lowered Becton, Dickinson and Company from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $278.29.

Becton, Dickinson and Company Price 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 firm has a market capitalization of $65.58 billion, a price-to-earnings ratio of 37.94, a P/E/G ratio of 1.63 and a beta of 0.40. The company’s 50 day moving average is $233.08 and its 200-day moving average is $233.02.

Becton, Dickinson and Company (NYSE:BDX) last issued its quarterly earnings data on Wednesday, February 5th. The medical instruments supplier reported $3.43 earnings per share 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%. Equities research analysts anticipate 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 announced 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 1.82%. The ex-dividend date of this dividend is Monday, March 10th. Becton, Dickinson and Company’s dividend payout ratio is currently 69.10%.

Becton, Dickinson and Company announced that its Board of Directors has initiated a stock repurchase plan 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 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 that occurred 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 sale, the director now owns 36,033 shares in the company, valued at approximately $8,215,163.67. This trade represents a 1.91 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jeffrey William Henderson purchased 1,500 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was acquired at an average price of $233.62 per share, for a total transaction of $350,430.00. Following the purchase, the director now owns 8,015 shares in the company, valued at approximately $1,872,464.30. The trade was a 23.02 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 10,544 shares of company stock valued at $2,370,309 over the last 90 days. 0.36% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

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