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

Becton, Dickinson and Company (NYSE:BDX) was the target of a significant growth in short interest during the month of February. As of February 15th, there was short interest totalling 3,720,000 shares, a growth of 37.8% from the January 31st total of 2,700,000 shares. Based on an average daily trading volume, of 2,070,000 shares, the days-to-cover ratio is presently 1.8 days. Currently, 1.3% of the shares of the stock are sold short.

Becton, Dickinson and Company Stock Up 0.2 %

Becton, Dickinson and Company stock traded up $0.50 during trading hours on Wednesday, hitting $224.77. The stock had a trading volume of 843,057 shares, compared to its average volume of 1,497,382. The stock has a market capitalization of $64.54 billion, a P/E ratio of 37.29, a price-to-earnings-growth ratio of 1.63 and a beta of 0.40. The stock’s 50-day moving average price is $233.07 and its 200-day moving average price is $232.89. Becton, Dickinson and Company has a 12-month low of $218.75 and a 12-month high of $251.99. The company has a quick ratio of 0.63, a current ratio of 1.13 and a debt-to-equity ratio of 0.69.

Becton, Dickinson and Company (NYSE:BDX) last announced its 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%. Equities research 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 announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders 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 approved a stock repurchase plan on Tuesday, January 28th that permits the company to buyback 10,000,000 outstanding shares. This buyback authorization permits the medical instruments supplier to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

A number of equities analysts have recently commented on BDX shares. StockNews.com upgraded shares of Becton, Dickinson and Company from a “hold” rating to a “buy” rating in a report on Wednesday. Barclays upped their price objective on shares of Becton, Dickinson and Company from $278.00 to $279.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Finally, Piper Sandler upped their price target 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. Eight analysts have rated the stock with a buy rating, According to MarketBeat, Becton, Dickinson and Company has a consensus rating of “Buy” and an average price target of $278.29.

Insider Activity at Becton, Dickinson and Company

In other news, EVP Shana Carol Neal sold 788 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $235.00, for a total value of $185,180.00. Following the transaction, the executive vice president now directly owns 16,201 shares of the company’s stock, valued at $3,807,235. This represents a 4.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bertram L. Scott sold 700 shares of the business’s stock in a transaction dated 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 directly owns 36,033 shares of the company’s stock, valued at $8,215,163.67. This represents a 1.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,544 shares of company stock valued at $2,370,309 over the last ninety days. 0.36% of the stock is owned by insiders.

Institutional Trading of Becton, Dickinson and Company

Hedge funds have recently bought and sold shares of the stock. Brighton Jones LLC raised its holdings in shares of Becton, Dickinson and Company by 98.2% during the fourth 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 during the last quarter. E. Ohman J or Asset Management AB lifted its holdings in shares of Becton, Dickinson and Company by 13.4% in the 4th 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 acquiring an additional 20,859 shares during the last quarter. Arete Wealth Advisors LLC purchased a new position in shares of Becton, Dickinson and Company in the third quarter valued at approximately $767,000. Busey Bank boosted its stake in shares of Becton, Dickinson and Company by 3.8% in the 4th 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. raised its position 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 in the last quarter. Hedge funds and other institutional investors 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.