Becton, Dickinson and Company (NYSE:BDX) Reaches New 1-Year Low After Analyst Downgrade

Becton, Dickinson and Company (NYSE:BDX - Get Free Report)'s share price reached a new 52-week low on Wednesday after Morgan Stanley lowered their price target on the stock from $280.00 to $196.00. Morgan Stanley currently has an overweight rating on the stock. Becton, Dickinson and Company traded as low as $163.33 and last traded at $165.13, with a volume of 3662914 shares. The stock had previously closed at $167.00.

A number of other research firms also recently weighed in on BDX. Raymond James downgraded Becton, Dickinson and Company from an "outperform" rating to a "market perform" rating in a research report on Friday, May 2nd. The Goldman Sachs Group cut Becton, Dickinson and Company from a "buy" rating to a "neutral" rating and set a $192.00 price objective on the stock. in a report on Friday, May 2nd. Stifel Nicolaus cut their target price on Becton, Dickinson and Company from $280.00 to $224.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Barclays reduced their price target on shares of Becton, Dickinson and Company from $279.00 to $261.00 and set an "overweight" rating on the stock in a research report on Monday, April 7th. Finally, Piper Sandler cut shares of Becton, Dickinson and Company from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $260.00 to $185.00 in a research note on Friday, May 2nd. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $231.44.

Insider Activity

In other Becton, Dickinson and Company news, Director Bertram L. Scott sold 700 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $227.99, for a total value of $159,593.00. Following the completion of the sale, the director now owns 36,033 shares in the company, valued at approximately $8,215,163.67. This trade represents a 1.91 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jeffrey William Henderson acquired 1,500 shares of the business's stock in a transaction dated Monday, February 10th. The stock was acquired at an average price of $233.62 per share, for a total transaction of $350,430.00. Following the completion of the transaction, the director now owns 8,015 shares in the company, valued at approximately $1,872,464.30. The trade was a 23.02 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 3,578 shares of company stock valued at $795,986. Insiders own 0.36% 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 BDX. Bank of Jackson Hole Trust purchased a new position in shares of Becton, Dickinson and Company in the 4th quarter valued at approximately $25,000. Smallwood Wealth Investment Management LLC bought a new position in Becton, Dickinson and Company in the first quarter worth $27,000. Sierra Ocean LLC purchased a new position in Becton, Dickinson and Company during the fourth quarter valued at $29,000. REAP Financial Group LLC boosted its holdings in shares of Becton, Dickinson and Company by 75.3% during 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, Alpine Bank Wealth Management purchased a new stake in shares of Becton, Dickinson and Company in the 1st quarter worth about $29,000. 86.97% of the stock is owned by hedge funds and other institutional investors.

Becton, Dickinson and Company Stock Performance

The company has a market capitalization of $47.41 billion, a P/E ratio of 27.43, a price-to-earnings-growth ratio of 1.63 and a beta of 0.31. The company's 50 day moving average is $212.37 and its 200-day moving average is $224.55. 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 (NYSE:BDX - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The medical instruments supplier reported $3.35 earnings per share for the quarter, topping analysts' consensus estimates of $3.28 by $0.07. Becton, Dickinson and Company had a net margin of 8.47% and a return on equity of 15.74%. The business had revenue of $5.27 billion for the quarter, compared to analysts' expectations of $5.35 billion. During the same quarter in the prior year, the company earned $3.17 earnings per share. The business's revenue was up 4.5% compared to the same quarter last year. Equities analysts anticipate that Becton, Dickinson and Company will post 14.43 EPS for the current fiscal year.

Becton, Dickinson and Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date is Monday, June 9th. Becton, Dickinson and Company's payout ratio is 79.39%.

Becton, Dickinson and Company declared that its board has initiated a stock repurchase program on Tuesday, January 28th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the medical instruments supplier to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company's board of directors believes its shares are undervalued.

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.

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