Becton, Dickinson and Company (NYSE:BDX) Shares Gap Down – What’s Next?

Becton, Dickinson and Company (NYSE:BDX) gapped down before the market opened on Thursday . The stock had previously closed at $245.06, but opened at $233.55. Becton, Dickinson and Company shares last traded at $237.30, with a volume of 275,423 shares.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. StockNews.com downgraded shares of Becton, Dickinson and Company from a “buy” rating to a “hold” rating in a report on Wednesday, December 18th. Piper Sandler lifted their price target on Becton, Dickinson and Company from $275.00 to $280.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 28th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $283.00.

Becton, Dickinson and Company Stock Performance

The company has a market cap of $68.02 billion, a PE ratio of 39.45, a P/E/G ratio of 1.80 and a beta of 0.40. The business has a fifty day moving average of $231.79 and a 200-day moving average of $234.09. The company has a current ratio of 1.17, a quick ratio of 0.74 and a debt-to-equity ratio of 0.69.

Becton, Dickinson and Company (NYSE:BDX) last issued its quarterly earnings data on Wednesday, February 5th. The medical instruments supplier reported $3.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.00 by $0.43. Becton, Dickinson and Company had a net margin of 8.55% and a return on equity of 14.89%. Equities research analysts anticipate that Becton, Dickinson and Company will post 14.41 earnings per share for the current fiscal year.

Becton, Dickinson and Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a dividend of $1.04 per share. The ex-dividend date is Monday, March 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.77%. Becton, Dickinson and Company’s dividend payout ratio (DPR) is 70.03%.

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

Insider Buying and Selling

In other news, EVP Roland Goette sold 638 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $219.03, for a total value of $139,741.14. Following the sale, the executive vice president now directly owns 14,217 shares of the company’s stock, valued at approximately $3,113,949.51. This represents a 4.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP David Shan sold 500 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $240.00, for a total transaction of $120,000.00. Following the completion of the transaction, the executive vice president now owns 5,741 shares in the company, valued at approximately $1,377,840. The trade was a 8.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,844 shares of company stock valued at $2,210,716 over the last ninety days. Company insiders own 0.36% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sound Income Strategies LLC boosted its stake in Becton, Dickinson and Company by 35.8% during the 3rd quarter. Sound Income Strategies LLC now owns 167 shares of the medical instruments supplier’s stock valued at $40,000 after purchasing an additional 44 shares during the last quarter. Tompkins Financial Corp raised its stake in Becton, Dickinson and Company by 44.2% during the 3rd quarter. Tompkins Financial Corp now owns 150 shares of the medical instruments supplier’s stock worth $36,000 after acquiring an additional 46 shares during the period. Birch Capital Management LLC boosted its position in shares of Becton, Dickinson and Company by 0.4% in the third quarter. Birch Capital Management LLC now owns 11,773 shares of the medical instruments supplier’s stock worth $2,838,000 after purchasing an additional 48 shares during the period. Radnor Capital Management LLC raised its position in shares of Becton, Dickinson and Company by 1.7% during the 3rd quarter. Radnor Capital Management LLC now owns 2,937 shares of the medical instruments supplier’s stock valued at $708,000 after purchasing an additional 48 shares during the period. Finally, Wesbanco Bank Inc. lifted its stake in shares of Becton, Dickinson and Company by 1.9% during the 4th quarter. Wesbanco Bank Inc. now owns 2,558 shares of the medical instruments supplier’s stock valued at $580,000 after buying an additional 48 shares in the last quarter. Institutional investors own 86.97% of the company’s stock.

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.