Becton, Dickinson and Company (NYSE:BDX) Sees Large Decline in Short Interest

Becton, Dickinson and Company (NYSE:BDX) was the target of a large decrease in short interest during the month of June. As of June 15th, there was short interest totalling 1,970,000 shares, a decrease of 11.7% from the May 31st total of 2,230,000 shares. Based on an average daily volume of 1,410,000 shares, the short-interest ratio is currently 1.4 days. Currently, 0.7% of the company’s shares are short sold.

Becton, Dickinson and Company Stock Performance

NYSE:BDX traded down $0.40 during mid-day trading on Wednesday, reaching $228.84. 509,815 shares of the stock were exchanged, compared to its average volume of 1,436,932. The company has a 50 day simple moving average of $234.16 and a 200-day simple moving average of $237.71. The stock has a market capitalization of $66.14 billion, a P/E ratio of 50.20, a P/E/G ratio of 2.05 and a beta of 0.42. The company has a quick ratio of 0.97, a current ratio of 1.41 and a debt-to-equity ratio of 0.62. Becton, Dickinson and Company has a 1 year low of $224.00 and a 1 year high of $287.32.

Becton, Dickinson and Company (NYSE:BDX) last released its quarterly earnings results on Thursday, May 2nd. The medical instruments supplier reported $3.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.97 by $0.20. The firm had revenue of $5.05 billion for the quarter, compared to the consensus estimate of $5.04 billion. Becton, Dickinson and Company had a return on equity of 13.90% and a net margin of 6.76%. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.86 EPS. Analysts anticipate that Becton, Dickinson and Company will post 13.04 earnings per share for the current fiscal year.

Becton, Dickinson and Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 10th were paid a $0.95 dividend. The ex-dividend date of this dividend was Monday, June 10th. This represents a $3.80 annualized dividend and a dividend yield of 1.66%. Becton, Dickinson and Company’s dividend payout ratio (DPR) is currently 83.70%.

Insider Activity

In other news, EVP Michael David Garrison sold 1,715 shares of the company’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $232.81, for a total value of $399,269.15. Following the transaction, the executive vice president now owns 5,381 shares of the company’s stock, valued at approximately $1,252,750.61. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Roland Goette sold 3,300 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $236.70, for a total transaction of $781,110.00. Following the transaction, the executive vice president now owns 14,608 shares of the company’s stock, valued at approximately $3,457,713.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Michael David Garrison sold 1,715 shares of the stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $232.81, for a total value of $399,269.15. Following the completion of the sale, the executive vice president now directly owns 5,381 shares in the company, valued at approximately $1,252,750.61. The disclosure for this sale can be found here. Insiders have sold a total of 8,615 shares of company stock valued at $2,033,381 in the last quarter. Insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of BDX. Livelsberger Financial Advisory purchased a new position in shares of Becton, Dickinson and Company in the 4th quarter valued at approximately $27,000. OLD Point Trust & Financial Services N A acquired a new stake in shares of Becton, Dickinson and Company in the 4th quarter valued at approximately $29,000. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Becton, Dickinson and Company in the 4th quarter valued at approximately $30,000. Scarborough Advisors LLC acquired a new stake in shares of Becton, Dickinson and Company in the 4th quarter valued at approximately $32,000. Finally, Fortitude Family Office LLC acquired a new stake in shares of Becton, Dickinson and Company in the 4th quarter valued at approximately $35,000. 86.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BDX. The Goldman Sachs Group initiated coverage on Becton, Dickinson and Company in a research report on Thursday, May 30th. They issued a “buy” rating and a $274.00 price target on the stock. StockNews.com downgraded Becton, Dickinson and Company from a “buy” rating to a “hold” rating in a report on Thursday, June 27th. Barclays increased their price objective on Becton, Dickinson and Company from $305.00 to $312.00 and gave the company an “overweight” rating in a report on Monday, May 6th. Finally, Evercore ISI dropped their price objective on Becton, Dickinson and Company from $290.00 to $285.00 and set an “outperform” rating on the stock in a report on Tuesday. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Becton, Dickinson and Company currently has a consensus rating of “Moderate Buy” and a consensus target price of $280.86.

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.