Becton, Dickinson and Company (NYSE:BDX) Stock Price Down 1.1% – Here’s Why

Becton, Dickinson and Company (NYSE:BDX) fell 1.1% on Tuesday . The company traded as low as $225.58 and last traded at $225.90. 341,604 shares were traded during mid-day trading, a decline of 77% from the average session volume of 1,497,326 shares. The stock had previously closed at $228.45.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Piper Sandler raised their target price on shares of Becton, Dickinson and Company from $275.00 to $280.00 and gave the stock an “overweight” rating in a report on Tuesday, January 28th. StockNews.com lowered Becton, Dickinson and Company from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, Barclays boosted their price objective on shares of 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. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $278.29.

Becton, Dickinson and Company Trading Down 1.7 %

The stock has a market cap of $64.45 billion, a PE ratio of 37.29, a price-to-earnings-growth ratio of 1.63 and a beta of 0.40. The firm has a 50-day moving average price of $233.12 and a 200-day moving average price of $232.98. 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 issued its earnings results on Wednesday, February 5th. The medical instruments supplier reported $3.43 earnings per share (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%. As a group, equities analysts anticipate that Becton, Dickinson and Company will post 14.43 EPS for the current fiscal year.

Becton, Dickinson and Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors 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 annualized dividend and a dividend yield of 1.85%. Becton, Dickinson and Company’s dividend payout ratio (DPR) is presently 69.10%.

Becton, Dickinson and Company declared that its Board of Directors has authorized a share buyback program on Tuesday, January 28th that allows the company to repurchase 10,000,000 shares. This repurchase authorization allows the medical instruments supplier to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In related news, EVP Roland Goette sold 638 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $219.03, for a total transaction of $139,741.14. Following the transaction, the executive vice president now owns 14,217 shares in the company, valued at $3,113,949.51. This represents a 4.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Shana Carol Neal sold 788 shares of the firm’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 sale, the executive vice president now owns 16,201 shares in the company, valued at $3,807,235. This represents a 4.64 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,544 shares of company stock valued at $2,370,309. 0.36% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank bought a new position in shares of Becton, Dickinson and Company in the 4th quarter worth approximately $735,523,000. T. Rowe Price Investment Management Inc. increased its holdings in Becton, Dickinson and Company by 36.1% during 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 buying an additional 3,219,317 shares during the last quarter. Kovitz Investment Group Partners LLC raised its position in Becton, Dickinson and Company by 392.4% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 3,416,665 shares of the medical instruments supplier’s stock worth $775,139,000 after acquiring an additional 2,722,829 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Becton, Dickinson and Company by 79.0% during 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 during the last quarter. Finally, First Eagle Investment Management LLC grew its position in shares of Becton, Dickinson and Company by 31.4% during the 4th quarter. First Eagle Investment Management LLC now owns 4,426,022 shares of the medical instruments supplier’s stock valued at $1,004,132,000 after acquiring an additional 1,057,879 shares during the period. 86.97% of the stock is owned by hedge funds and other institutional investors.

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.