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

Becton, Dickinson and Company (NYSE:BDX) was the recipient of a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 2,630,000 shares, a growth of 38.4% from the November 30th total of 1,900,000 shares. Based on an average daily trading volume, of 1,660,000 shares, the days-to-cover ratio is presently 1.6 days. Currently, 0.9% of the company’s shares are short sold.

Insiders Place Their Bets

In related news, EVP Michael David Garrison sold 2,838 shares of Becton, Dickinson and Company stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $223.33, for a total value of $633,810.54. Following the transaction, the executive vice president now owns 6,141 shares in the company, valued at approximately $1,371,469.53. This trade represents a 31.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Roland Goette sold 638 shares of Becton, Dickinson and Company stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $219.03, for a total value of $139,741.14. Following the completion of the transaction, the executive vice president now directly owns 14,217 shares in the company, valued at $3,113,949.51. This represents a 4.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,959 shares of company stock valued at $1,764,340. Insiders own 0.36% of the company’s stock.

Institutional Investors Weigh In On Becton, Dickinson and Company

Several hedge funds and other institutional investors have recently modified their holdings of the stock. WR Wealth Planners LLC grew its position in shares of Becton, Dickinson and Company by 1.4% in the 2nd quarter. WR Wealth Planners LLC now owns 2,978 shares of the medical instruments supplier’s stock worth $696,000 after acquiring an additional 42 shares in the last quarter. Sound Income Strategies LLC boosted its holdings in Becton, Dickinson and Company by 35.8% in the third quarter. Sound Income Strategies LLC now owns 167 shares of the medical instruments supplier’s stock worth $40,000 after purchasing an additional 44 shares during the period. Central Pacific Bank Trust Division raised its holdings in shares of Becton, Dickinson and Company by 22.5% during the third quarter. Central Pacific Bank Trust Division now owns 245 shares of the medical instruments supplier’s stock worth $59,000 after purchasing an additional 45 shares during the period. Tompkins Financial Corp lifted its position in shares of Becton, Dickinson and Company by 44.2% in the 3rd quarter. Tompkins Financial Corp now owns 150 shares of the medical instruments supplier’s stock worth $36,000 after buying an additional 46 shares during the last quarter. Finally, Global X Japan Co. Ltd. grew its position in shares of Becton, Dickinson and Company by 2.7% during the 2nd quarter. Global X Japan Co. Ltd. now owns 1,810 shares of the medical instruments supplier’s stock valued at $423,000 after buying an additional 48 shares during the last quarter. Institutional investors own 86.97% of the company’s stock.

Analysts Set New Price Targets

BDX has been the subject of a number of research reports. StockNews.com cut shares of Becton, Dickinson and Company from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Citigroup raised Becton, Dickinson and Company from a “neutral” rating to a “buy” rating and upped their target price for the stock from $255.00 to $275.00 in a research report on Tuesday, October 1st. Finally, Evercore ISI raised their target price on Becton, Dickinson and Company from $286.00 to $290.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Becton, Dickinson and Company presently has an average rating of “Moderate Buy” and a consensus target price of $283.50.

Becton, Dickinson and Company Stock Down 0.9 %

Shares of NYSE BDX traded down $1.98 during midday trading on Monday, reaching $226.51. 1,695,389 shares of the company’s stock were exchanged, compared to its average volume of 1,486,614. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.74 and a current ratio of 1.17. Becton, Dickinson and Company has a 52-week low of $218.75 and a 52-week high of $249.89. The business’s fifty day moving average price is $228.22 and its two-hundred day moving average price is $232.73. The stock has a market capitalization of $65.69 billion, a PE ratio of 38.13, a price-to-earnings-growth ratio of 1.64 and a beta of 0.41.

Becton, Dickinson and Company (NYSE:BDX) last posted its quarterly earnings data on Thursday, November 7th. The medical instruments supplier reported $3.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.77 by $0.04. The company had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.38 billion. Becton, Dickinson and Company had a return on equity of 14.89% and a net margin of 8.55%. Becton, Dickinson and Company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the business earned $3.42 EPS. Analysts forecast that Becton, Dickinson and Company will post 14.43 EPS for the current year.

Becton, Dickinson and Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 9th will be issued a dividend of $1.04 per share. This is a positive change from Becton, Dickinson and Company’s previous quarterly dividend of $0.95. This represents a $4.16 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend is Monday, December 9th. Becton, Dickinson and Company’s dividend payout ratio (DPR) is currently 70.03%.

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.