Short Interest in Becton, Dickinson and Company (NYSE:BDX) Drops By 21.0%

Becton, Dickinson and Company (NYSE:BDX) saw a large drop in short interest in the month of February. As of February 28th, there was short interest totalling 2,940,000 shares, a drop of 21.0% from the February 13th total of 3,720,000 shares. Currently, 1.0% of the company’s stock are short sold. Based on an average daily volume of 2,080,000 shares, the days-to-cover ratio is presently 1.4 days.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on BDX shares. Piper Sandler lifted their price objective 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 lifted their target price 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, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $278.29.

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 stock was 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 owns 5,741 shares in the company, valued at $1,377,840. This trade represents a 8.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Richard Byrd sold 1,940 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $224.91, for a total value of $436,325.40. Following the completion of the transaction, the executive vice president now owns 7,411 shares of the company’s stock, valued at approximately $1,666,808.01. The trade was a 20.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,363 shares of company stock worth $1,676,105 in the last quarter. 0.36% of the stock is owned by company insiders.

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 purchased a new position in Becton, Dickinson and Company during the fourth quarter valued at $25,000. REAP Financial Group LLC lifted its position in 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 valued at $29,000 after purchasing an additional 55 shares in the last quarter. Sierra Ocean LLC purchased a new position in Becton, Dickinson and Company during the fourth quarter valued at $29,000. Picton Mahoney Asset Management lifted its position in 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 valued at $32,000 after purchasing an additional 54 shares in the last quarter. Finally, Hopwood Financial Services Inc. purchased a new position in shares of Becton, Dickinson and Company in the fourth quarter valued at about $39,000. 86.97% of the stock is currently owned by hedge funds and other institutional investors.

Becton, Dickinson and Company Stock Performance

Shares of BDX traded down $0.38 during trading hours on Monday, hitting $225.60. The stock had a trading volume of 483,958 shares, compared to its average volume of 1,510,809. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.13 and a quick ratio of 0.63. Becton, Dickinson and Company has a 12 month low of $218.75 and a 12 month high of $251.99. The firm has a market capitalization of $64.78 billion, a PE ratio of 37.48, a PEG ratio of 1.63 and a beta of 0.35. The stock has a fifty day moving average price of $232.78 and a 200 day moving average price of $232.29.

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

Becton, Dickinson and Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a dividend of $1.04 per share. The ex-dividend date is Monday, March 10th. This represents a $4.16 annualized dividend and a yield of 1.84%. Becton, Dickinson and Company’s dividend payout ratio (DPR) is presently 69.10%.

Becton, Dickinson and Company declared that its board has authorized a stock buyback plan on Tuesday, January 28th that authorizes the company to buyback 10,000,000 outstanding shares. This buyback authorization authorizes the medical instruments supplier to repurchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.

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.