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

Becton, Dickinson and Company (NYSE:BDX) was the target of a large drop in short interest in the month of February. As of February 28th, there was short interest totalling 2,940,000 shares, a drop of 21.0% from the February 13th total of 3,720,000 shares. Currently, 1.0% of the company’s stock are short sold. Based on an average daily trading volume, of 2,080,000 shares, the days-to-cover ratio is presently 1.4 days.

Becton, Dickinson and Company Stock Performance

Shares of NYSE BDX traded up $4.29 during midday trading on Tuesday, reaching $232.12. 2,638,308 shares of the company were exchanged, compared to its average volume of 1,521,417. The stock has a market cap of $66.65 billion, a P/E ratio of 38.56, a PEG ratio of 1.63 and a beta of 0.35. Becton, Dickinson and Company has a 1 year low of $218.75 and a 1 year high of $251.99. The stock has a fifty day simple moving average of $232.72 and a 200 day simple moving average of $232.19. The company has a current ratio of 1.13, a quick ratio of 0.63 and a debt-to-equity ratio of 0.69.

Becton, Dickinson and Company (NYSE:BDX) last announced its earnings results 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 return on equity of 15.74% and a net margin of 8.47%. On average, research analysts forecast that Becton, Dickinson and Company will post 14.43 earnings per share for the current fiscal year.

Becton, Dickinson and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a yield of 1.79%. Becton, Dickinson and Company’s payout ratio is currently 69.10%.

Becton, Dickinson and Company announced that its Board of Directors has approved a stock repurchase program on Tuesday, January 28th that authorizes the company to buyback 10,000,000 outstanding shares. This buyback authorization authorizes the medical instruments supplier to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

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

Insider Activity

In other Becton, Dickinson and Company news, Director Bertram L. Scott sold 700 shares of Becton, Dickinson and Company stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $227.99, for a total transaction of $159,593.00. Following the completion of the sale, the director now directly owns 36,033 shares of the company’s stock, valued at $8,215,163.67. The trade was a 1.91 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey William Henderson acquired 1,500 shares of the company’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 acquisition, 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. In the last quarter, insiders sold 7,363 shares of company stock worth $1,676,105. 0.36% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Becton, Dickinson and Company

A number of large investors have recently made changes to their positions in BDX. Bank of Jackson Hole Trust purchased a new stake in shares of Becton, Dickinson and Company in the 4th quarter worth about $25,000. Sierra Ocean LLC purchased a new stake in Becton, Dickinson and Company during the fourth quarter worth approximately $29,000. REAP Financial Group LLC increased its holdings in Becton, Dickinson and Company by 75.3% in the 4th 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 in the last quarter. Picton Mahoney Asset Management grew its stake in shares of 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 buying an additional 54 shares in the last quarter. Finally, Hopwood Financial Services Inc. purchased a new stake in Becton, Dickinson and Company during the 4th quarter worth $39,000. 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.