Becton, Dickinson and Company (NYSE:BDX) Stock Price Up 0.6% – Still a Buy?

Becton, Dickinson and Company (NYSE:BDX)’s share price rose 0.6% during mid-day trading on Tuesday . The stock traded as high as $229.18 and last traded at $229.13. Approximately 187,737 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 1,510,315 shares. The stock had previously closed at $227.83.

Analysts Set New Price Targets

BDX has been the topic of several recent research reports. Barclays raised their price target on Becton, Dickinson and Company from $278.00 to $279.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Piper Sandler raised their target price on Becton, Dickinson and Company from $275.00 to $280.00 and gave the stock an “overweight” rating in a report on Tuesday, January 28th. Finally, StockNews.com upgraded Becton, Dickinson and Company from a “hold” rating to a “buy” rating in a report on Wednesday, March 5th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $278.29.

Becton, Dickinson and Company Stock Performance

The company has a market cap of $66.57 billion, a price-to-earnings ratio of 38.51, a price-to-earnings-growth ratio of 1.63 and a beta of 0.35. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.13 and a quick ratio of 0.63. The stock has a 50-day moving average price of $232.68 and a 200 day moving average price of $232.12.

Becton, Dickinson and Company (NYSE:BDX) last released its quarterly earnings results on Wednesday, February 5th. The medical instruments supplier reported $3.43 EPS for the quarter, topping 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%. As a group, analysts anticipate that Becton, Dickinson and Company will post 14.43 EPS for the current fiscal year.

Becton, Dickinson and Company Announces Dividend

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

Becton, Dickinson and Company announced that its Board of Directors has initiated a share buyback plan on Tuesday, January 28th that permits the company to repurchase 10,000,000 outstanding shares. This repurchase authorization permits the medical instruments supplier to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Insider Activity at Becton, Dickinson and Company

In related news, EVP Richard Byrd sold 459 shares of Becton, Dickinson and Company stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $230.00, for a total value of $105,570.00. Following the sale, the executive vice president now owns 6,952 shares of the company’s stock, valued at approximately $1,598,960. This trade represents a 6.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Shana Carol Neal sold 788 shares of Becton, Dickinson and Company stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $235.00, for a total value of $185,180.00. Following the completion of the sale, the executive vice president now directly owns 16,201 shares in the company, valued at approximately $3,807,235. This represents a 4.64 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,984 shares of company stock valued at $1,147,865. 0.36% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC increased its position in shares of Becton, Dickinson and Company by 22.2% during 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 purchasing an additional 9,892 shares during the last quarter. NorthCrest Asset Manangement LLC increased its position in shares of Becton, Dickinson and Company by 10.0% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 8,794 shares of the medical instruments supplier’s stock worth $1,995,000 after purchasing an additional 800 shares during the last quarter. PKO Investment Management Joint Stock Co acquired a new position in shares of Becton, Dickinson and Company during the 4th quarter worth approximately $1,702,000. Northstar Financial Companies Inc. acquired a new position in shares of Becton, Dickinson and Company during the 4th quarter worth approximately $315,000. Finally, Centaurus Financial Inc. increased its position in shares of Becton, Dickinson and Company by 5.6% during the 4th quarter. Centaurus Financial Inc. now owns 1,444 shares of the medical instruments supplier’s stock worth $328,000 after purchasing an additional 77 shares during the last quarter. Institutional investors and hedge funds 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.