Becton, Dickinson and Company (NYSE:BDX) Cut to “Hold” at StockNews.com

Becton, Dickinson and Company (NYSE:BDX) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

Several other equities research analysts have also commented on BDX. Barclays boosted their price target on Becton, Dickinson and Company from $278.00 to $279.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. 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 report on Tuesday, January 28th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Becton, Dickinson and Company currently has an average rating of “Moderate Buy” and a consensus price target of $278.29.

Becton, Dickinson and Company Price Performance

NYSE:BDX traded down $1.23 during trading hours on Tuesday, hitting $227.96. The company’s stock had a trading volume of 1,675,001 shares, compared to its average volume of 1,534,439. The company has a market capitalization of $65.46 billion, a PE ratio of 37.87, a PEG ratio of 1.63 and a beta of 0.35. Becton, Dickinson and Company has a 52-week low of $218.75 and a 52-week high of $251.99. The business’s 50-day moving average is $232.27 and its two-hundred day moving average is $231.87. 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 quarterly earnings results on Wednesday, February 5th. The medical instruments supplier reported $3.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, research analysts anticipate that Becton, Dickinson and Company will post 14.43 EPS for the current fiscal year.

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

Insider Transactions at Becton, Dickinson and Company

In related news, EVP Richard Byrd sold 1,940 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $224.91, for a total value of $436,325.40. Following the sale, the executive vice president now directly owns 7,411 shares of the company’s stock, valued at approximately $1,666,808.01. This trade represents a 20.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bertram L. Scott sold 700 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The shares were 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 owns 36,033 shares of the company’s stock, valued at approximately $8,215,163.67. The trade was a 1.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,984 shares of company stock worth $1,147,865 over the last quarter. 0.36% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Principal Financial Group Inc. increased its stake in Becton, Dickinson and Company by 1.5% during the third quarter. Principal Financial Group Inc. now owns 1,179,715 shares of the medical instruments supplier’s stock worth $284,429,000 after acquiring an additional 16,918 shares during the last quarter. Great Valley Advisor Group Inc. increased its position in Becton, Dickinson and Company by 93.1% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 2,470 shares of the medical instruments supplier’s stock worth $596,000 after purchasing an additional 1,191 shares in the last quarter. Swedbank AB raised its holdings in Becton, Dickinson and Company by 1.8% in the third quarter. Swedbank AB now owns 150,838 shares of the medical instruments supplier’s stock valued at $36,367,000 after buying an additional 2,729 shares during the period. Daiwa Securities Group Inc. lifted its position in Becton, Dickinson and Company by 6.4% during the third quarter. Daiwa Securities Group Inc. now owns 38,347 shares of the medical instruments supplier’s stock valued at $9,245,000 after buying an additional 2,313 shares in the last quarter. Finally, Independent Advisor Alliance grew its stake in Becton, Dickinson and Company by 8.8% during the third quarter. Independent Advisor Alliance now owns 9,422 shares of the medical instruments supplier’s stock worth $2,272,000 after buying an additional 760 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.