Becton, Dickinson and Company (NYSE:BDX) Stock Price Down 0.3% Following Insider Selling

Becton, Dickinson and Company (NYSE:BDX)’s stock price was down 0.3% on Thursday following insider selling activity. The stock traded as low as $222.01 and last traded at $223.17. Approximately 494,650 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 1,509,143 shares. The stock had previously closed at $223.82.

Specifically, EVP Richard Byrd sold 1,940 shares of the stock in a transaction on Wednesday, March 12th. The stock was 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 represents a 20.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Analysts Set New Price Targets

Several research firms recently issued reports on BDX. Piper Sandler upped their price objective on Becton, Dickinson and Company from $275.00 to $280.00 and gave the company an “overweight” rating in a research report on Tuesday, January 28th. StockNews.com raised Becton, Dickinson and Company from a “hold” rating to a “buy” rating in a report on Wednesday, March 5th. Finally, Barclays lifted their price objective on Becton, Dickinson and Company from $278.00 to $279.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, Becton, Dickinson and Company presently has an average rating of “Buy” and an average price target of $278.29.

Becton, Dickinson and Company Stock Performance

The company has a market cap of $63.93 billion, a PE ratio of 36.99, a PEG ratio of 1.63 and a beta of 0.35. 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 has a 50-day moving average of $232.82 and a 200 day moving average of $232.44.

Becton, Dickinson and Company (NYSE:BDX) last issued its quarterly earnings data on Wednesday, February 5th. The medical instruments supplier reported $3.43 earnings per share for the quarter, topping the consensus estimate 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%. Equities research analysts anticipate that Becton, Dickinson and Company will post 14.43 EPS for the current fiscal year.

Becton, Dickinson and Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date is Monday, March 10th. Becton, Dickinson and Company’s payout ratio is 69.10%.

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

Hedge Funds Weigh In On Becton, Dickinson and Company

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of Jackson Hole Trust bought a new position in shares of Becton, Dickinson and Company during the 4th quarter valued at approximately $25,000. Sierra Ocean LLC purchased a new stake in shares of Becton, Dickinson and Company in the fourth quarter worth $29,000. REAP Financial Group LLC raised its position in shares of Becton, Dickinson and Company by 75.3% during the 4th quarter. REAP Financial Group LLC now owns 128 shares of the medical instruments supplier’s stock valued at $29,000 after purchasing an additional 55 shares during the period. Picton Mahoney Asset Management lifted its stake in shares of Becton, Dickinson and Company by 61.4% during the 4th quarter. Picton Mahoney Asset Management now owns 142 shares of the medical instruments supplier’s stock valued at $32,000 after buying an additional 54 shares in the last quarter. Finally, Ashton Thomas Securities LLC bought a new position in Becton, Dickinson and Company in the 3rd quarter worth $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.