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

StockNews.com downgraded shares of Becton, Dickinson and Company (NYSE:BDX) from a buy rating to a hold rating in a report released on Tuesday.

A number of other analysts have also commented on BDX. Piper Sandler boosted their price objective 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. 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 note on Friday, February 14th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $278.29.

Becton, Dickinson and Company Stock Down 1.4 %

Shares of NYSE:BDX opened at $224.44 on Tuesday. The company has a market capitalization of $64.44 billion, a price-to-earnings ratio of 37.28, a P/E/G ratio of 1.63 and a beta of 0.40. 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 business’s 50-day moving average is $233.13 and its 200-day moving average is $233.11. Becton, Dickinson and Company has a 1 year low of $218.75 and a 1 year high of $251.99.

Becton, Dickinson and Company (NYSE:BDX) last announced its quarterly earnings data 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 return on equity of 15.74% and a net margin of 8.47%. Equities research 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 announced 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 is Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a yield of 1.85%. Becton, Dickinson and Company’s dividend payout ratio is presently 69.10%.

Becton, Dickinson and Company declared that its board has approved 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 reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Becton, Dickinson and Company

In other news, EVP David Shan sold 500 shares of the firm’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 directly owns 5,741 shares of the company’s stock, valued at approximately $1,377,840. This trade represents a 8.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael David Garrison sold 597 shares of the firm’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $236.51, for a total value of $141,196.47. Following the transaction, the executive vice president now directly owns 5,544 shares in the company, valued at $1,311,211.44. This trade represents a 9.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,544 shares of company stock valued at $2,370,309 over the last 90 days. 0.36% of the stock is owned by insiders.

Institutional Trading of Becton, Dickinson and Company

A number of institutional investors have recently modified their holdings of BDX. Bank of Jackson Hole Trust purchased a new stake in shares of Becton, Dickinson and Company during the fourth quarter worth about $25,000. Sierra Ocean LLC purchased a new stake in shares of Becton, Dickinson and Company during the fourth quarter worth about $29,000. REAP Financial Group LLC boosted its holdings in shares of Becton, Dickinson and Company by 75.3% during the fourth quarter. REAP Financial Group LLC now owns 128 shares of the medical instruments supplier’s stock worth $29,000 after purchasing an additional 55 shares during the period. Picton Mahoney Asset Management boosted its holdings in shares of Becton, Dickinson and Company by 61.4% during the fourth quarter. Picton Mahoney Asset Management now owns 142 shares of the medical instruments supplier’s stock worth $32,000 after purchasing an additional 54 shares during the period. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Becton, Dickinson and Company during the third quarter worth about $33,000. 86.97% of the stock is currently 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.