Short Interest in Becton, Dickinson and Company (NYSE:BDX) Grows By 33.8%

Becton, Dickinson and Company (NYSE:BDX) was the target of a significant growth in short interest in August. As of August 31st, there was short interest totalling 1,980,000 shares, a growth of 33.8% from the August 15th total of 1,480,000 shares. Approximately 0.7% of the company’s stock are short sold. Based on an average daily volume of 1,360,000 shares, the days-to-cover ratio is currently 1.5 days.

Becton, Dickinson and Company Stock Performance

NYSE BDX traded down $0.14 on Monday, reaching $234.04. 948,421 shares of the company’s stock traded hands, compared to its average volume of 1,421,850. The stock has a 50 day moving average price of $234.88 and a 200-day moving average price of $235.60. The firm has a market cap of $67.64 billion, a price-to-earnings ratio of 51.55, a P/E/G ratio of 1.91 and a beta of 0.42. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.36 and a current ratio of 1.85. Becton, Dickinson and Company has a fifty-two week low of $218.75 and a fifty-two week high of $269.52.

Becton, Dickinson and Company (NYSE:BDX) last announced its quarterly earnings results on Thursday, August 1st. The medical instruments supplier reported $3.50 earnings per share for the quarter, beating the consensus estimate of $3.31 by $0.19. Becton, Dickinson and Company had a return on equity of 14.49% and a net margin of 7.13%. The company had revenue of $4.99 billion during the quarter, compared to analysts’ expectations of $5.08 billion. During the same period last year, the business earned $2.96 earnings per share. Becton, Dickinson and Company’s quarterly revenue was up 2.3% on a year-over-year basis. Equities research analysts predict that Becton, Dickinson and Company will post 13.1 EPS 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, September 30th. Investors of record on Monday, September 9th will be paid a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 1.62%. The ex-dividend date is Monday, September 9th. Becton, Dickinson and Company’s dividend payout ratio is currently 83.70%.

Institutional Trading of Becton, Dickinson and Company

Hedge funds have recently added to or reduced their stakes in the company. Gryphon Financial Partners LLC acquired a new stake in Becton, Dickinson and Company in the fourth quarter valued at approximately $211,000. Avantax Advisory Services Inc. grew its stake in Becton, Dickinson and Company by 7.7% in the 4th quarter. Avantax Advisory Services Inc. now owns 6,053 shares of the medical instruments supplier’s stock valued at $1,476,000 after acquiring an additional 432 shares during the period. Foundations Investment Advisors LLC increased its holdings in Becton, Dickinson and Company by 12.1% in the 4th quarter. Foundations Investment Advisors LLC now owns 1,305 shares of the medical instruments supplier’s stock worth $316,000 after acquiring an additional 141 shares in the last quarter. Arjuna Capital raised its position in Becton, Dickinson and Company by 6.3% during the fourth quarter. Arjuna Capital now owns 9,398 shares of the medical instruments supplier’s stock worth $2,292,000 after acquiring an additional 559 shares during the period. Finally, Level Four Advisory Services LLC raised its position in Becton, Dickinson and Company by 8.2% during the fourth quarter. Level Four Advisory Services LLC now owns 2,651 shares of the medical instruments supplier’s stock worth $646,000 after acquiring an additional 202 shares during the period. 86.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on BDX. Evercore ISI decreased their target price on shares of Becton, Dickinson and Company from $290.00 to $285.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. Stifel Nicolaus increased their price objective on Becton, Dickinson and Company from $270.00 to $280.00 and gave the company a “buy” rating in a report on Friday, July 26th. StockNews.com upgraded Becton, Dickinson and Company from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. The Goldman Sachs Group began coverage on Becton, Dickinson and Company in a research note on Thursday, May 30th. They issued a “buy” rating and a $274.00 price target for the company. Finally, Citigroup lowered their price target on Becton, Dickinson and Company from $260.00 to $255.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $279.50.

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.