Becton, Dickinson and Company (NYSE:BDX) Sees Large Decline in Short Interest

Becton, Dickinson and Company (NYSE:BDX) was the target of a large drop in short interest during 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. Based on an average daily volume of 2,080,000 shares, the short-interest ratio is currently 1.4 days. Approximately 1.0% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other Becton, Dickinson and Company news, Director Bertram L. Scott sold 700 shares of the firm’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $227.99, for a total value of $159,593.00. Following the sale, the director now directly owns 36,033 shares in the company, valued at approximately $8,215,163.67. This trade represents a 1.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP David Shan sold 500 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $240.00, for a total transaction of $120,000.00. Following the transaction, the executive vice president now owns 5,741 shares of the company’s stock, valued at $1,377,840. This represents a 8.01 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,363 shares of company stock valued at $1,676,105. Insiders own 0.36% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Brighton Jones LLC grew its position in Becton, Dickinson and Company by 98.2% during the 4th quarter. Brighton Jones LLC now owns 1,770 shares of the medical instruments supplier’s stock worth $401,000 after purchasing an additional 877 shares in the last quarter. E. Ohman J or Asset Management AB boosted its position in shares of Becton, Dickinson and Company by 13.4% in the fourth quarter. E. Ohman J or Asset Management AB now owns 176,097 shares of the medical instruments supplier’s stock worth $39,951,000 after buying an additional 20,859 shares during the period. Arete Wealth Advisors LLC purchased a new position in shares of Becton, Dickinson and Company during the third quarter valued at $767,000. Busey Bank raised its position in Becton, Dickinson and Company by 3.8% during the fourth quarter. Busey Bank now owns 66,255 shares of the medical instruments supplier’s stock valued at $15,031,000 after buying an additional 2,399 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Becton, Dickinson and Company by 79.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,986,543 shares of the medical instruments supplier’s stock worth $720,089,000 after acquiring an additional 1,317,723 shares in the last quarter. 86.97% of the stock is owned by hedge funds and other institutional investors.

Becton, Dickinson and Company Price Performance

Shares of NYSE BDX traded up $4.29 during midday trading on Tuesday, reaching $232.12. The company’s stock had a trading volume of 2,638,308 shares, compared to its average volume of 1,521,417. Becton, Dickinson and Company has a one year low of $218.75 and a one year high of $251.99. The company has a market cap of $66.65 billion, a price-to-earnings ratio of 38.56, a price-to-earnings-growth ratio of 1.63 and a beta of 0.35. The company has a 50 day moving average price of $232.72 and a 200 day moving average price 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 quarterly earnings data on Wednesday, February 5th. The medical instruments supplier reported $3.43 EPS for the quarter, beating analysts’ consensus estimates 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, equities research analysts expect that Becton, Dickinson and Company will post 14.43 EPS for the current year.

Becton, Dickinson and Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid a $1.04 dividend. 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 dividend payout ratio is currently 69.10%.

Becton, Dickinson and Company declared that its Board of Directors has approved a stock repurchase program on Tuesday, January 28th that permits the company to repurchase 10,000,000 shares. This repurchase authorization permits the medical instruments supplier to purchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

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.