Becton, Dickinson and Company (NYSE:BDX) Short Interest Down 11.7% in June

Becton, Dickinson and Company (NYSE:BDX) was the recipient of a significant decline in short interest during the month of June. As of June 15th, there was short interest totalling 1,970,000 shares, a decline of 11.7% from the May 31st total of 2,230,000 shares. Based on an average daily volume of 1,410,000 shares, the short-interest ratio is currently 1.4 days. Currently, 0.7% of the shares of the company are sold short.

Analysts Set New Price Targets

Several equities analysts have issued reports on BDX shares. Evercore ISI cut their target price on Becton, Dickinson and Company from $290.00 to $285.00 and set an “outperform” rating on the stock in a research note on Tuesday. The Goldman Sachs Group initiated coverage on Becton, Dickinson and Company in a research note on Thursday, May 30th. They issued a “buy” rating and a $274.00 price objective for the company. Barclays lifted their price objective on Becton, Dickinson and Company from $305.00 to $312.00 and gave the company an “overweight” rating in a research note on Monday, May 6th. Finally, StockNews.com lowered Becton, Dickinson and Company from a “buy” rating to a “hold” rating in a report on Thursday, June 27th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Becton, Dickinson and Company currently has an average rating of “Moderate Buy” and a consensus price target of $280.86.

Becton, Dickinson and Company Trading Down 0.2 %

Shares of NYSE:BDX traded down $0.40 during midday trading on Wednesday, reaching $228.84. 509,815 shares of the company’s stock were exchanged, compared to its average volume of 1,436,932. The firm’s 50 day simple moving average is $234.16 and its two-hundred day simple moving average is $237.71. Becton, Dickinson and Company has a fifty-two week low of $224.00 and a fifty-two week high of $287.32. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.41 and a quick ratio of 0.97. The stock has a market cap of $66.14 billion, a price-to-earnings ratio of 50.20, a P/E/G ratio of 2.05 and a beta of 0.42.

Becton, Dickinson and Company (NYSE:BDX) last released its quarterly earnings results on Thursday, May 2nd. The medical instruments supplier reported $3.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.97 by $0.20. The business had revenue of $5.05 billion for the quarter, compared to the consensus estimate of $5.04 billion. Becton, Dickinson and Company had a net margin of 6.76% and a return on equity of 13.90%. The business’s revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.86 EPS. As a group, sell-side analysts forecast that Becton, Dickinson and Company will post 13.04 EPS for the current fiscal year.

Becton, Dickinson and Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 10th were paid a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 1.66%. The ex-dividend date was Monday, June 10th. Becton, Dickinson and Company’s payout ratio is 83.70%.

Insider Activity

In related news, SVP Thomas J. Spoerel sold 300 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $239.31, for a total value of $71,793.00. Following the completion of the transaction, the senior vice president now owns 1,976 shares of the company’s stock, valued at approximately $472,876.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Thomas J. Spoerel sold 300 shares of Becton, Dickinson and Company stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $239.31, for a total transaction of $71,793.00. Following the completion of the sale, the senior vice president now owns 1,976 shares in the company, valued at approximately $472,876.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael David Garrison sold 1,715 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $232.81, for a total value of $399,269.15. Following the completion of the sale, the executive vice president now owns 5,381 shares of the company’s stock, valued at approximately $1,252,750.61. The disclosure for this sale can be found here. Insiders sold 8,615 shares of company stock valued at $2,033,381 over the last three months. Insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Becton, Dickinson and Company

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Becton, Dickinson and Company by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 26,123,450 shares of the medical instruments supplier’s stock valued at $6,369,681,000 after buying an additional 195,931 shares during the last quarter. Morgan Stanley grew its position in shares of Becton, Dickinson and Company by 4.5% in the 3rd quarter. Morgan Stanley now owns 10,200,213 shares of the medical instruments supplier’s stock valued at $2,637,062,000 after buying an additional 435,168 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Becton, Dickinson and Company by 4.4% during the 1st quarter. Bank of New York Mellon Corp now owns 4,065,443 shares of the medical instruments supplier’s stock worth $1,005,994,000 after acquiring an additional 172,005 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Becton, Dickinson and Company by 9.2% in the third quarter. Ameriprise Financial Inc. now owns 3,630,351 shares of the medical instruments supplier’s stock valued at $938,593,000 after acquiring an additional 304,629 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its stake in Becton, Dickinson and Company by 0.6% in the fourth quarter. Clearbridge Investments LLC now owns 3,154,438 shares of the medical instruments supplier’s stock valued at $769,147,000 after acquiring an additional 19,200 shares in the last quarter. 86.97% of the stock is currently owned by institutional investors and hedge funds.

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.