Becton, Dickinson and Company (NYSE:BDX) Sets New 12-Month High – What’s Next?

Becton, Dickinson and Company (NYSE:BDX)’s stock price reached a new 52-week high on Thursday. The stock traded as high as $216.85 and last traded at $214.0390, with a volume of 92,734 shares changing hands. The stock had previously closed at $214.52.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on BDX shares. Stifel Nicolaus set a $195.00 target price on Becton, Dickinson and Company in a report on Friday, August 7th. Citigroup raised 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. Barclays raised their price target on shares of Becton, Dickinson and Company from $165.00 to $195.00 and gave the stock an “underweight” rating in a report on Tuesday. Wolfe Research initiated coverage on shares of Becton, Dickinson and Company in a research report on Tuesday, October 20th. They set an “outperform” rating on the stock. Finally, Bank of America upped their price objective on shares of Becton, Dickinson and Company from $185.00 to $200.00 and gave the company a “neutral” rating in a research note on Monday, August 31st. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Becton, Dickinson and Company presently has an average rating of “Moderate Buy” and a consensus price target of $197.47.

Becton, Dickinson and Company Trading Up 0.1%

The stock has a market cap of $59.15 billion, a price-to-earnings ratio of 51.96, a PEG ratio of 3.56 and a beta of 0.22. The company has a quick ratio of 0.54, a current ratio of 0.87 and a debt-to-equity ratio of 0.54. The business has a 50-day moving average of $189.73 and a 200-day moving average of $170.42.

Becton, Dickinson and Company (NYSE:BDX) last issued its earnings results on Thursday, November 5th. The medical instruments supplier reported $4.15 EPS for the quarter, beating analysts’ consensus estimates of $4.07 by $0.08. Becton, Dickinson and Company had a return on equity of 14.90% and a net margin of 5.66%. The firm had revenue of $5.27 billion for the quarter, compared to the consensus estimate of $5.11 billion. During the same quarter in the previous year, the company posted $3.96 earnings per share. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, research analysts forecast that Becton, Dickinson and Company will post 13.21 earnings per share for the current year.

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 issued a $1.06 dividend. This is an increase from Becton, Dickinson and Company’s previous quarterly dividend of $1.05. This represents a $4.24 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Thursday, December 10th. Becton, Dickinson and Company’s dividend payout ratio is currently 102.42%.

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

Insider Activity at Becton, Dickinson and Company

In related news, EVP Michael Feld sold 165 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $188.49, for a total transaction of $31,100.85. Following the transaction, the executive vice president owned 19,720 shares of the company’s stock, valued at approximately $3,717,022.80. This trade represents a 0.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Thomas Polen, Jr. sold 2,993 shares of Becton, Dickinson and Company stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $210.00, for a total transaction of $628,530.00. Following the completion of the sale, the chief executive officer owned 110,163 shares of the company’s stock, valued at $23,134,230. This trade represents a 2.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 3,310 shares of company stock worth $688,650. Insiders own 0.40% of the company’s stock.

Institutional Investors Weigh In On Becton, Dickinson and Company

Several institutional investors and hedge funds have recently modified their holdings of the business. TD Waterhouse Canada Inc. boosted its position in Becton, Dickinson and Company by 17.1% during the second quarter. TD Waterhouse Canada Inc. now owns 96,211 shares of the medical instruments supplier’s stock worth $14,715,000 after purchasing an additional 14,077 shares during the period. Northside Capital Management LLC grew its holdings in Becton, Dickinson and Company by 18.3% during the second quarter. Northside Capital Management LLC now owns 61,324 shares of the medical instruments supplier’s stock valued at $9,280,000 after purchasing an additional 9,494 shares during the last quarter. Capital Analysts LLC raised its position in shares of Becton, Dickinson and Company by 7.5% in the second quarter. Capital Analysts LLC now owns 83,601 shares of the medical instruments supplier’s stock valued at $12,651,000 after purchasing an additional 5,828 shares during the period. NewEdge Advisors LLC raised its position in shares of Becton, Dickinson and Company by 35.0% in the first quarter. NewEdge Advisors LLC now owns 44,032 shares of the medical instruments supplier’s stock valued at $6,923,000 after purchasing an additional 11,414 shares during the period. Finally, Wealthfront Advisers LLC acquired a new stake in shares of Becton, Dickinson and Company in the second quarter worth $2,567,000. Institutional investors and hedge funds own 86.97% of the company’s stock.

Becton, Dickinson and Company Company Profile

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.