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 note published on Wednesday morning.

BDX has been the topic of a number of other research reports. Piper Sandler upped their target price on Becton, Dickinson and Company from $275.00 to $280.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. Barclays upped their price objective 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. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $278.29.

Becton, Dickinson and Company Stock Performance

NYSE BDX opened at $226.55 on Wednesday. The company has a market cap of $65.05 billion, a P/E ratio of 37.63, a P/E/G ratio of 1.63 and a beta of 0.35. The business’s 50 day moving average price is $231.15 and its 200-day moving average price is $231.58. Becton, Dickinson and Company has a fifty-two week low of $218.75 and a fifty-two week high of $251.99. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.63 and a current ratio of 1.13.

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 net margin of 8.47% and a return on equity of 15.74%. Sell-side analysts predict 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 disclosed 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 annualized dividend and a yield of 1.84%. Becton, Dickinson and Company’s payout ratio is currently 69.10%.

Becton, Dickinson and Company declared that its board has initiated a share repurchase program 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 programs are often a sign that the company’s management believes its shares are undervalued.

Insider Activity

In other news, EVP Michael David Garrison sold 597 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $236.51, for a total transaction of $141,196.47. Following the transaction, the executive vice president now directly owns 5,544 shares in the company, valued at approximately $1,311,211.44. This trade represents a 9.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Shana Carol Neal sold 788 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $235.00, for a total transaction of $185,180.00. Following the completion of the transaction, the executive vice president now directly owns 16,201 shares of the company’s stock, valued at $3,807,235. This trade represents a 4.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,984 shares of company stock worth $1,147,865. Company insiders own 0.36% of the company’s stock.

Institutional Trading of Becton, Dickinson and Company

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Park National Corp OH lifted its stake in shares of Becton, Dickinson and Company by 2.9% during the 1st quarter. Park National Corp OH now owns 38,256 shares of the medical instruments supplier’s stock worth $8,763,000 after purchasing an additional 1,089 shares during the last quarter. Marcum Wealth LLC raised its holdings in Becton, Dickinson and Company by 30.6% in the first quarter. Marcum Wealth LLC now owns 3,395 shares of the medical instruments supplier’s stock worth $778,000 after purchasing an additional 796 shares in the last quarter. Rempart Asset Management Inc. lifted its position in shares of Becton, Dickinson and Company by 0.7% during the first quarter. Rempart Asset Management Inc. now owns 82,997 shares of the medical instruments supplier’s stock valued at $19,011,000 after buying an additional 615 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Becton, Dickinson and Company by 39.1% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 815 shares of the medical instruments supplier’s stock valued at $187,000 after buying an additional 229 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of Becton, Dickinson and Company by 22.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 54,529 shares of the medical instruments supplier’s stock worth $12,371,000 after buying an additional 9,892 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.