Becton, Dickinson and Company (NYSE:BDX) Stock: Insider Thomas Polen, Jr. Sells 2,993 Shares

Becton, Dickinson and Company (NYSE:BDX) CEO Thomas Polen, Jr. sold 2,993 shares of the company’s stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $210.00, for a total value of $628,530.00. Following the sale, the chief executive officer directly owned 110,163 shares of the company’s stock, valued at approximately $23,134,230. This represents a 2.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Becton, Dickinson and Company Stock Down 1.1%

Becton, Dickinson and Company stock opened at $212.97 on Wednesday. Becton, Dickinson and Company has a twelve month low of $140.11 and a twelve month high of $216.74. The stock has a 50 day moving average of $189.18 and a two-hundred day moving average of $170.36. The company has a current ratio of 0.87, a quick ratio of 0.54 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $58.68 billion, a price-to-earnings ratio of 51.44, a PEG ratio of 3.59 and a beta of 0.22.

Becton, Dickinson and Company (NYSE:BDX) last released its earnings results on Thursday, November 5th. The medical instruments supplier reported $4.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.07 by $0.08. The business had revenue of $5.27 billion for the quarter, compared to analyst estimates of $5.11 billion. Becton, Dickinson and Company had a return on equity of 14.90% and a net margin of 5.66%. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.96 earnings per share. As a group, research analysts expect that Becton, Dickinson and Company will post 13.28 earnings per share for the current year.

Becton, Dickinson and Company declared that its board has authorized a share repurchase plan on Thursday, November 5th that permits the company to buy back 10,000,000 shares. This repurchase authorization permits the medical instruments supplier to buy up to 3.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Becton, Dickinson and Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Thursday, December 10th will be given a $1.06 dividend. This is a positive change from Becton, Dickinson and Company’s previous quarterly dividend of $1.05. The ex-dividend date is Thursday, December 10th. This represents a $4.24 dividend on an annualized basis and a yield of 2.0%. Becton, Dickinson and Company’s payout ratio is 101.45%.

Wall Street Analysts Forecast Growth

BDX has been the subject of a number of analyst reports. Stifel Nicolaus set a $195.00 price objective on shares of Becton, Dickinson and Company in a research report on Friday, August 7th. Wolfe Research started coverage on shares of Becton, Dickinson and Company in a report on Tuesday, October 20th. They issued an “outperform” rating on the stock. UBS Group started coverage on shares of Becton, Dickinson and Company in a research note on Tuesday, July 28th. They set a “buy” rating and a $190.00 price target on the stock. Citigroup increased their price target on shares of Becton, Dickinson and Company from $208.00 to $241.00 and gave the stock a “buy” rating in a report on Friday, November 6th. Finally, TD Cowen raised their price objective on shares of Becton, Dickinson and Company from $163.00 to $182.00 and gave the company a “hold” rating in a research report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Becton, Dickinson and Company has a consensus rating of “Moderate Buy” and an average price target of $197.47.

More Becton, Dickinson and Company News

Here are the key news stories impacting Becton, Dickinson and Company this week:

• Positive Sentiment: BD reported quarterly EPS of $4.15, beating the $4.07 consensus, and revenue of $5.27 billion versus expectations of $5.11 billion. Revenue grew 5.4% year over year. The company also authorized a repurchase of up to 10 million shares and raised its quarterly dividend to $1.06 per share. BDX earnings, buyback and dividend details
• Neutral Sentiment: BD will hold an Investor Day on December 10, where management may provide updates on its strategy and outlook. BD Investor Day announcement
• Negative Sentiment: Barclays raised its price target from $165 to $195 but kept an “underweight” rating; JPMorgan raised its target from $170 to $202 while maintaining a “neutral” rating. Both targets are below the referenced $212.97 share price, suggesting limited upside in those analysts’ views.
• Neutral Sentiment: CEO Thomas Polen sold 2,993 shares for about $629,000, but the sale was made under a pre-arranged Rule 10b5-1 plan. He retained 110,163 shares after the transaction. CEO share sale details

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BDX. Private Advisor Group LLC grew its position in Becton, Dickinson and Company by 81.6% during the third quarter. Private Advisor Group LLC now owns 21,401 shares of the medical instruments supplier’s stock worth $3,831,000 after buying an additional 9,619 shares during the period. Checchi Capital Advisers LLC acquired a new stake in shares of Becton, Dickinson and Company during the 3rd quarter valued at approximately $272,000. Meeder Asset Management Inc. boosted its stake in shares of Becton, Dickinson and Company by 153.5% during the 3rd quarter. Meeder Asset Management Inc. now owns 180 shares of the medical instruments supplier’s stock worth $32,000 after acquiring an additional 109 shares in the last quarter. Composition Wealth LLC boosted its stake in shares of Becton, Dickinson and Company by 25.2% during the 3rd quarter. Composition Wealth LLC now owns 2,908 shares of the medical instruments supplier’s stock worth $521,000 after acquiring an additional 586 shares in the last quarter. Finally, Voya Investment Management LLC grew its holdings in shares of Becton, Dickinson and Company by 6.6% in the 3rd quarter. Voya Investment Management LLC now owns 90,247 shares of the medical instruments supplier’s stock worth $16,154,000 after acquiring an additional 5,591 shares during the period. Hedge funds and other institutional investors own 86.97% of the company’s stock.

About Becton, Dickinson and Company

Becton, Dickinson and Company, commonly known as BD, is a global medical technology company that develops and manufactures products used in healthcare, clinical laboratories and life sciences research. Founded in 1897, the company has a long history of producing medical devices and supplies. BD’s products include syringes, needles, infusion systems and medication-management technologies, as well as equipment and supplies for collecting and processing clinical specimens. The company also provides diagnostic systems, laboratory instruments and tools used in areas such as cell analysis and biomedical research.