Becton, Dickinson and Company (NYSE:BDX) Downgraded to “Equal Weight” Rating by Wells Fargo & Company

Wells Fargo & Company downgraded shares of Becton, Dickinson and Company (NYSE:BDX) from an overweight rating to an equal weight rating in a research report released on Thursday, Marketbeat reports.

Several other research firms also recently commented on BDX. StockNews.com raised Becton, Dickinson and Company from a “hold” rating to a “buy” rating in a report on Wednesday, April 2nd. Bank of America downgraded shares of Becton, Dickinson and Company from a “buy” rating to a “neutral” rating and set a $190.00 price objective for the company. in a research report on Thursday. Barclays dropped their target price on shares of Becton, Dickinson and Company from $279.00 to $261.00 and set an “overweight” rating on the stock in a report on Monday, April 7th. William Blair cut Becton, Dickinson and Company from an “outperform” rating to a “market perform” rating in a report on Thursday. Finally, Piper Sandler dropped their price objective on Becton, Dickinson and Company from $280.00 to $260.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $262.50.

Becton, Dickinson and Company Stock Down 18.1 %

Becton, Dickinson and Company stock opened at $169.56 on Thursday. The company has a current ratio of 1.13, a quick ratio of 0.63 and a debt-to-equity ratio of 0.69. Becton, Dickinson and Company has a 1-year low of $169.52 and a 1-year high of $251.99. The company has a fifty day simple moving average of $215.99 and a 200 day simple moving average of $226.21. The company has a market cap of $48.69 billion, a P/E ratio of 28.17, a price-to-earnings-growth ratio of 1.63 and a beta of 0.35.

Becton, Dickinson and Company (NYSE:BDX) last announced its quarterly earnings data on Thursday, May 1st. The medical instruments supplier reported $3.35 earnings per share for the quarter, beating the consensus estimate of $3.28 by $0.07. Becton, Dickinson and Company had a return on equity of 15.74% and a net margin of 8.47%. The company had revenue of $5.27 billion during the quarter, compared to analysts’ expectations of $5.35 billion. During the same quarter last year, the company earned $3.17 EPS. Becton, Dickinson and Company’s revenue for the quarter was up 4.5% compared to the same quarter last year. Research analysts anticipate that Becton, Dickinson and Company will post 14.43 earnings per share for the current fiscal year.

Becton, Dickinson and Company declared that its board has authorized a stock repurchase program on Tuesday, January 28th that permits the company to buyback 10,000,000 outstanding shares. This buyback authorization permits the medical instruments supplier to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Becton, Dickinson and Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be paid a $1.04 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $4.16 annualized dividend and a yield of 2.45%. Becton, Dickinson and Company’s dividend payout ratio (DPR) is presently 69.10%.

Insider Transactions at Becton, Dickinson and Company

In other Becton, Dickinson and Company news, EVP Michael David Garrison sold 479 shares of Becton, Dickinson and Company stock in a transaction dated Wednesday, April 9th. The shares were sold at an average price of $197.28, for a total value of $94,497.12. Following the completion of the sale, the executive vice president now owns 4,887 shares in the company, valued at $964,107.36. The trade was a 8.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Richard Byrd sold 1,940 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $224.91, for a total transaction of $436,325.40. Following the transaction, the executive vice president now owns 7,411 shares in the company, valued at approximately $1,666,808.01. The trade was a 20.75 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,578 shares of company stock valued at $795,986. 0.36% of the stock is currently owned by corporate insiders.

Institutional Trading of Becton, Dickinson and Company

Institutional investors have recently modified their holdings of the stock. Bank of Jackson Hole Trust acquired a new position in Becton, Dickinson and Company in the fourth quarter valued at about $25,000. Smallwood Wealth Investment Management LLC bought a new position in Becton, Dickinson and Company in the 1st quarter valued at about $27,000. Alpine Bank Wealth Management acquired a new position in shares of Becton, Dickinson and Company in the 1st quarter valued at approximately $29,000. REAP Financial Group LLC raised its position in shares of Becton, Dickinson and Company by 75.3% in the 4th quarter. REAP Financial Group LLC now owns 128 shares of the medical instruments supplier’s stock valued at $29,000 after buying an additional 55 shares in the last quarter. Finally, Cornerstone Planning Group LLC lifted its holdings in shares of Becton, Dickinson and Company by 341.4% during the 1st quarter. Cornerstone Planning Group LLC now owns 128 shares of the medical instruments supplier’s stock worth $29,000 after acquiring an additional 99 shares during the period. 86.97% of the stock is currently owned by institutional investors.

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.