Becton, Dickinson and Company (NYSE:BDX) Shares Up 1% - Here's Why

Becton, Dickinson and Company (NYSE:BDX - Get Free Report)'s share price shot up 1% during trading on Friday . The company traded as high as $227.53 and last traded at $227.51. 268,181 shares were traded during mid-day trading, a decline of 82% from the average session volume of 1,498,928 shares. The stock had previously closed at $225.34.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BDX. Piper Sandler raised their target price on Becton, Dickinson and Company from $275.00 to $280.00 and gave the company an "overweight" rating in a research note on Tuesday, January 28th. StockNews.com upgraded Becton, Dickinson and Company from a "hold" rating to a "buy" rating in a research note on Wednesday, March 5th. Finally, Barclays raised their target price 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. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $278.29.

Becton, Dickinson and Company Trading Down 1.1 %

The business's 50 day moving average is $232.99 and its two-hundred day moving average is $232.65. The company has a quick ratio of 0.63, a current ratio of 1.13 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $65.21 billion, a P/E ratio of 37.72, a PEG ratio of 1.63 and a beta of 0.35.

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Becton, Dickinson and Company (NYSE:BDX - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The medical instruments supplier reported $3.43 earnings per share 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%. Analysts expect that Becton, Dickinson and Company will post 14.43 EPS for the current year.

Becton, Dickinson and Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 1.83%. The ex-dividend date is Monday, March 10th. Becton, Dickinson and Company's dividend payout ratio (DPR) is presently 69.10%.

Becton, Dickinson and Company announced that its Board of Directors has approved a stock repurchase program on Tuesday, January 28th that allows the company to repurchase 10,000,000 outstanding shares. This repurchase authorization allows the medical instruments supplier to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Insiders Place Their Bets

In other Becton, Dickinson and Company news, 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 value of $159,593.00. Following the sale, the director now directly owns 36,033 shares in the company, valued at approximately $8,215,163.67. The trade was a 1.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael David Garrison sold 2,838 shares of Becton, Dickinson and Company stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $223.33, for a total value of $633,810.54. Following the completion of the transaction, the executive vice president now directly owns 6,141 shares in the company, valued at $1,371,469.53. This represents a 31.61 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,423 shares of company stock worth $1,239,780. 0.36% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Becton, Dickinson and Company

Institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new position in Becton, Dickinson and Company during the 4th quarter valued at about $735,523,000. T. Rowe Price Investment Management Inc. grew its stake in shares of Becton, Dickinson and Company by 36.1% in the 4th 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 in the last quarter. Kovitz Investment Group Partners LLC grew its stake in shares of Becton, Dickinson and Company by 392.4% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 3,416,665 shares of the medical instruments supplier's stock valued at $775,139,000 after buying an additional 2,722,829 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Becton, Dickinson and Company by 79.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,986,543 shares of the medical instruments supplier's stock valued at $720,089,000 after buying an additional 1,317,723 shares in the last quarter. Finally, First Eagle Investment Management LLC grew its stake in shares of Becton, Dickinson and Company by 31.4% in 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 buying an additional 1,057,879 shares in the last quarter. Hedge funds and other institutional investors own 86.97% of the company's stock.

Becton, Dickinson and Company Company Profile

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.