Short Interest in Becton, Dickinson and Company (NYSE:BDX) Decreases By 22.0%

Becton, Dickinson and Company (NYSE:BDX - Get Free Report) saw a significant decline in short interest in January. As of January 31st, there was short interest totalling 2,700,000 shares, a decline of 22.0% from the January 15th total of 3,460,000 shares. Currently, 0.9% of the shares of the company are sold short. Based on an average daily volume of 2,180,000 shares, the days-to-cover ratio is presently 1.2 days.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on BDX shares. Piper Sandler upped their price target on shares of Becton, Dickinson and Company from $275.00 to $280.00 and gave the stock an "overweight" rating in a report 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, February 12th. Finally, Barclays lifted their price target on Becton, Dickinson and Company from $278.00 to $279.00 and gave the company an "overweight" rating in a research report on Friday, February 14th. Eight analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $278.29.

Becton, Dickinson and Company Price Performance

BDX stock traded up $2.43 during mid-day trading on Wednesday, hitting $227.56. 1,072,173 shares of the stock were exchanged, compared to its average volume of 2,113,271. The business has a fifty day moving average price of $232.85 and a 200 day moving average price of $233.38. Becton, Dickinson and Company has a 12 month low of $218.75 and a 12 month high of $251.99. 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 market capitalization of $65.34 billion, a price-to-earnings ratio of 37.80, a PEG ratio of 1.61 and a beta of 0.40.

Becton, Dickinson and Company (NYSE:BDX - Get Free Report) last released its earnings results on Wednesday, February 5th. The medical instruments supplier reported $3.43 earnings per share 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%. On average, sell-side analysts anticipate that Becton, Dickinson and Company will post 14.43 EPS for the current year.

Becton, Dickinson and Company announced that its board has authorized a stock repurchase program on Tuesday, January 28th that allows the company to repurchase 10,000,000 shares. This repurchase authorization allows the medical instruments supplier to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company's leadership believes its stock is undervalued.

Becton, Dickinson and Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.83%. The ex-dividend date is Monday, March 10th. Becton, Dickinson and Company's dividend payout ratio is currently 69.10%.

Insider Activity

In other news, EVP David Shan sold 500 shares of the firm's stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $240.00, for a total value of $120,000.00. Following the completion of the transaction, the executive vice president now directly owns 5,741 shares in the company, valued at approximately $1,377,840. This trade represents a 8.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Roland Goette sold 4,483 shares of the company's stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $221.01, for a total transaction of $990,787.83. Following the sale, the executive vice president now directly owns 24,345 shares in the company, valued at $5,380,488.45. This trade represents a 15.55 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,544 shares of company stock worth $2,370,309. 0.36% of the stock is owned by corporate insiders.

Institutional Trading of Becton, Dickinson and Company

Several institutional investors have recently added to or reduced their stakes in the business. CX Institutional boosted its holdings in Becton, Dickinson and Company by 128.6% during the 3rd quarter. CX Institutional now owns 1,175 shares of the medical instruments supplier's stock valued at $283,000 after acquiring an additional 661 shares during the period. SeaCrest Wealth Management LLC lifted its position in Becton, Dickinson and Company by 6.5% in the third quarter. SeaCrest Wealth Management LLC now owns 1,520 shares of the medical instruments supplier's stock valued at $367,000 after purchasing an additional 93 shares during the last quarter. Probity Advisors Inc. lifted its position in Becton, Dickinson and Company by 7.9% in the third quarter. Probity Advisors Inc. now owns 1,271 shares of the medical instruments supplier's stock valued at $306,000 after purchasing an additional 93 shares during the last quarter. Good Life Advisors LLC grew its holdings in shares of Becton, Dickinson and Company by 20.9% in the third quarter. Good Life Advisors LLC now owns 1,145 shares of the medical instruments supplier's stock worth $276,000 after purchasing an additional 198 shares during the last quarter. Finally, Cardinal Capital Management increased its stake in shares of Becton, Dickinson and Company by 2.0% in the third quarter. Cardinal Capital Management now owns 27,125 shares of the medical instruments supplier's stock worth $6,540,000 after buying an additional 535 shares during the period. 86.97% of the stock is currently owned by hedge funds and other institutional investors.

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.