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

Becton, Dickinson and Company (NYSE:BDX) was the target of a large decline in short interest in November. As of November 30th, there was short interest totalling 1,900,000 shares, a decline of 10.0% from the November 15th total of 2,110,000 shares. Approximately 0.7% of the shares of the company are sold short. Based on an average daily volume of 1,480,000 shares, the days-to-cover ratio is currently 1.3 days.

Analyst Ratings Changes

BDX has been the subject of a number of analyst reports. Evercore ISI boosted their price target on Becton, Dickinson and Company from $286.00 to $290.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Citigroup raised shares of Becton, Dickinson and Company from a “neutral” rating to a “buy” rating and raised their target price for the company from $255.00 to $275.00 in a report on Tuesday, October 1st. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Becton, Dickinson and Company presently has an average rating of “Buy” and an average price target of $283.50.

Insider Buying and Selling at Becton, Dickinson and Company

In other Becton, Dickinson and Company news, EVP Roland Goette sold 4,483 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $221.01, for a total transaction of $990,787.83. Following the transaction, the executive vice president now owns 24,345 shares in the company, valued at $5,380,488.45. This trade represents a 15.55 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Becton, Dickinson and Company

Large investors have recently bought and sold shares of the company. Arete Wealth Advisors LLC acquired a new stake in Becton, Dickinson and Company in the third quarter valued at $767,000. Charles Schwab Investment Management Inc. grew its position in shares of Becton, Dickinson and Company by 79.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,986,543 shares of the medical instruments supplier’s stock valued at $720,089,000 after buying an additional 1,317,723 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its stake in shares of Becton, Dickinson and Company by 2.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 561,040 shares of the medical instruments supplier’s stock valued at $135,267,000 after buying an additional 12,845 shares during the period. Benson Investment Management Company Inc. raised its position in shares of Becton, Dickinson and Company by 13.2% during the third quarter. Benson Investment Management Company Inc. now owns 22,315 shares of the medical instruments supplier’s stock worth $5,380,000 after acquiring an additional 2,602 shares during the last quarter. Finally, Swedbank AB lifted its stake in shares of Becton, Dickinson and Company by 1.8% in the third quarter. Swedbank AB now owns 150,838 shares of the medical instruments supplier’s stock worth $36,367,000 after acquiring an additional 2,729 shares during the period. 86.97% of the stock is currently owned by institutional investors.

Becton, Dickinson and Company Price Performance

Becton, Dickinson and Company stock traded down $1.88 during midday trading on Tuesday, reaching $225.68. The company’s stock had a trading volume of 2,526,168 shares, compared to its average volume of 1,470,588. The company has a current ratio of 1.17, a quick ratio of 0.74 and a debt-to-equity ratio of 0.69. The stock has a market cap of $65.25 billion, a PE ratio of 37.99, a price-to-earnings-growth ratio of 1.64 and a beta of 0.41. Becton, Dickinson and Company has a 52 week low of $218.75 and a 52 week high of $249.89. The business has a 50-day moving average price of $230.57 and a 200-day moving average price of $233.40.

Becton, Dickinson and Company (NYSE:BDX) last announced its quarterly earnings results on Thursday, November 7th. The medical instruments supplier reported $3.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.77 by $0.04. The company had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.38 billion. Becton, Dickinson and Company had a net margin of 8.55% and a return on equity of 14.89%. The firm’s revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm posted $3.42 EPS. On average, sell-side analysts predict that Becton, Dickinson and Company will post 14.43 EPS for the current year.

Becton, Dickinson and Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 9th will be issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend is Monday, December 9th. This is a boost from Becton, Dickinson and Company’s previous quarterly dividend of $0.95. Becton, Dickinson and Company’s dividend payout ratio is presently 70.03%.

Becton, Dickinson and Company Company Profile

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.