Short Interest in Becton, Dickinson and Company (NYSE:BDX) Grows By 32.1%

Becton, Dickinson and Company (NYSE:BDX) was the recipient of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 3,790,000 shares, an increase of 32.1% from the March 15th total of 2,870,000 shares. Based on an average daily trading volume, of 2,170,000 shares, the days-to-cover ratio is presently 1.7 days. Approximately 1.3% of the shares of the company are sold short.

Insiders Place Their Bets

In other news, EVP David Shan sold 500 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $240.00, for a total value of $120,000.00. Following the transaction, the executive vice president now directly owns 5,741 shares of the company’s stock, valued at $1,377,840. This represents a 8.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Richard Byrd sold 1,940 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $224.91, for a total transaction of $436,325.40. Following the sale, the executive vice president now owns 7,411 shares of the company’s stock, valued at approximately $1,666,808.01. This represents a 20.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,078 shares of company stock valued at $915,986 over the last 90 days. 0.36% of the stock is currently owned by insiders.

Institutional Trading of Becton, Dickinson and Company

Several institutional investors and hedge funds have recently modified their holdings of the business. Clarius Group LLC raised its stake in Becton, Dickinson and Company by 55.5% during the first quarter. Clarius Group LLC now owns 2,121 shares of the medical instruments supplier’s stock worth $486,000 after acquiring an additional 757 shares in the last quarter. Insigneo Advisory Services LLC increased its position in Becton, Dickinson and Company by 19.3% during the 1st quarter. Insigneo Advisory Services LLC now owns 3,760 shares of the medical instruments supplier’s stock worth $861,000 after purchasing an additional 608 shares in the last quarter. Bfsg LLC increased its position in Becton, Dickinson and Company by 1.1% during the 1st quarter. Bfsg LLC now owns 24,964 shares of the medical instruments supplier’s stock worth $5,718,000 after purchasing an additional 271 shares in the last quarter. Cardinal Capital Management boosted its position in Becton, Dickinson and Company by 3.9% in the first quarter. Cardinal Capital Management now owns 30,029 shares of the medical instruments supplier’s stock valued at $6,878,000 after buying an additional 1,136 shares in the last quarter. Finally, NBT Bank N A NY grew its stake in shares of Becton, Dickinson and Company by 7.7% during the first quarter. NBT Bank N A NY now owns 3,921 shares of the medical instruments supplier’s stock worth $898,000 after buying an additional 280 shares during the last quarter. 86.97% of the stock is currently owned by institutional investors.

Becton, Dickinson and Company Stock Down 1.0 %

BDX stock opened at $198.50 on Monday. Becton, Dickinson and Company has a 52 week low of $193.03 and a 52 week high of $251.99. The business has a 50-day simple moving average of $220.84 and a 200 day simple moving average of $228.44. 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 company has a market cap of $56.99 billion, a PE ratio of 32.97, a price-to-earnings-growth ratio of 1.63 and a beta of 0.35.

Becton, Dickinson and Company (NYSE:BDX) last issued its earnings results on Wednesday, February 5th. The medical instruments supplier reported $3.43 EPS for the quarter, beating 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%. Sell-side analysts anticipate that Becton, Dickinson and Company will post 14.43 EPS for the current fiscal year.

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

Becton, Dickinson and Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date of this dividend was Monday, March 10th. Becton, Dickinson and Company’s dividend payout ratio is presently 69.10%.

Analyst Ratings Changes

Several analysts recently weighed in on BDX shares. Barclays dropped their price target on Becton, Dickinson and Company from $279.00 to $261.00 and set an “overweight” rating for the company in a report on Monday, April 7th. StockNews.com raised shares of Becton, Dickinson and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, April 2nd. Finally, Piper Sandler raised 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 research report on Tuesday, January 28th. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $275.71.

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.