Becton, Dickinson and Company (NYSE:BDX) Sets New 12-Month High – What’s Next?

Becton, Dickinson and Company (NYSE:BDX) shares hit a new 52-week high during trading on Thursday. The stock traded as high as $216.85 and last traded at $214.0390, with a volume of 92,734 shares traded. The stock had previously closed at $214.52.

Analyst Ratings Changes

A number of research analysts have weighed in on BDX shares. Citigroup boosted their target price on shares of Becton, Dickinson and Company from $208.00 to $241.00 and gave the stock a “buy” rating in a research report on Friday, November 6th. Zacks Research upgraded shares of Becton, Dickinson and Company from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 21st. TD Cowen raised their price target on Becton, Dickinson and Company from $163.00 to $182.00 and gave the company a “hold” rating in a research report on Wednesday, August 5th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $242.00 price target on shares of Becton, Dickinson and Company in a research report on Thursday, November 5th. Finally, Wolfe Research initiated coverage on Becton, Dickinson and Company in a research note on Tuesday, October 20th. They issued an “outperform” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Becton, Dickinson and Company has an average rating of “Moderate Buy” and a consensus target price of $197.47.

Becton, Dickinson and Company Stock Up 0.1%

The company has a quick ratio of 0.54, a current ratio of 0.87 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $59.15 billion, a P/E ratio of 51.96, a PEG ratio of 3.56 and a beta of 0.22. The firm has a 50-day moving average price of $189.73 and a two-hundred day moving average price of $170.42.

Becton, Dickinson and Company (NYSE:BDX) last announced its quarterly earnings data on Thursday, November 5th. The medical instruments supplier reported $4.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.07 by $0.08. Becton, Dickinson and Company had a net margin of 5.66% and a return on equity of 14.90%. The business had revenue of $5.27 billion for the quarter, compared to the consensus estimate of $5.11 billion. During the same quarter last year, the company posted $3.96 earnings per share. Becton, Dickinson and Company’s quarterly revenue was up 5.4% on a year-over-year basis. Equities research analysts anticipate that Becton, Dickinson and Company will post 13.21 EPS for the current fiscal year.

Becton, Dickinson and Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Thursday, December 10th will be issued a $1.06 dividend. This is a boost from Becton, Dickinson and Company’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Thursday, December 10th. This represents a $4.24 dividend on an annualized basis and a yield of 2.0%. Becton, Dickinson and Company’s payout ratio is currently 102.42%.

Becton, Dickinson and Company announced that its Board of Directors has authorized a share repurchase plan on Thursday, November 5th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the medical instruments supplier to buy up to 3.6% of its stock through open market purchases. Share repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

Insider Transactions at Becton, Dickinson and Company

In related news, CEO Thomas E. Polen, Jr. sold 2,993 shares of Becton, Dickinson and Company stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $210.00, for a total transaction of $628,530.00. Following the sale, the chief executive officer directly owned 110,163 shares of the company’s stock, valued at $23,134,230. This trade represents a 2.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Feld sold 165 shares of the business’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $188.49, for a total value of $31,100.85. Following the transaction, the executive vice president owned 19,720 shares in the company, valued at $3,717,022.80. This represents a 0.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 3,310 shares of company stock valued at $688,650 in the last ninety days. 0.40% of the stock is owned by company insiders.

Institutional Trading of Becton, Dickinson and Company

A number of hedge funds have recently modified their holdings of BDX. BlackRock Inc. acquired a new stake in shares of Becton, Dickinson and Company during the 2nd quarter worth approximately $3,721,533,000. Bank of America Corp DE bought a new stake in shares of Becton, Dickinson and Company during the second quarter valued at approximately $474,993,000. First Eagle Investment Management LLC increased its position in shares of Becton, Dickinson and Company by 15.8% during the second quarter. First Eagle Investment Management LLC now owns 13,815,335 shares of the medical instruments supplier’s stock valued at $2,090,675,000 after purchasing an additional 1,887,224 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of Becton, Dickinson and Company in the second quarter valued at $247,372,000. Finally, Deutsche Bank AG acquired a new position in shares of Becton, Dickinson and Company in the second quarter valued at $204,226,000. Institutional investors own 86.97% of the company’s stock.

About Becton, Dickinson and Company

Becton, Dickinson and Company, commonly known as BD, is a global medical technology company that develops and manufactures products used in healthcare, clinical laboratories and life sciences research. Founded in 1897, the company has a long history of producing medical devices and supplies. BD’s products include syringes, needles, infusion systems and medication-management technologies, as well as equipment and supplies for collecting and processing clinical specimens. The company also provides diagnostic systems, laboratory instruments and tools used in areas such as cell analysis and biomedical research.