Becton, Dickinson and Company (NYSE:BDX) Hits New 12-Month Low Following Analyst Downgrade

Becton, Dickinson and Company (NYSE:BDX - Get Free Report)'s stock price hit a new 52-week low during mid-day trading 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 changing hands. The stock had previously closed at $167.00.

BDX has been the subject of a number of other reports. Raymond James downgraded Becton, Dickinson and Company from an "outperform" rating to a "market perform" rating in a research note on Friday, May 2nd. Bank of America downgraded Becton, Dickinson and Company from a "buy" rating to a "neutral" rating and set a $190.00 target price for the company. in a research note on Thursday, May 1st. The Goldman Sachs Group downgraded Becton, Dickinson and Company from a "buy" rating to a "neutral" rating and set a $192.00 target price for the company. in a research note on Friday, May 2nd. Stifel Nicolaus lowered their target price on Becton, Dickinson and Company from $280.00 to $224.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Finally, Barclays decreased their price objective on Becton, Dickinson and Company from $279.00 to $261.00 and set an "overweight" rating for the company in a research note on Monday, April 7th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, Becton, Dickinson and Company presently has a consensus rating of "Hold" and a consensus price target of $231.44.

Insider Transactions at Becton, Dickinson and Company

In other news, EVP Michael David Garrison sold 479 shares of the company's stock in a transaction on Wednesday, April 9th. The shares were sold at an average price of $197.28, for a total transaction of $94,497.12. Following the transaction, the executive vice president now directly owns 4,887 shares of the company's stock, valued at $964,107.36. This represents a 8.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Richard Byrd sold 1,940 shares of the company's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $224.91, for a total value of $436,325.40. Following the completion of the sale, the executive vice president now directly owns 7,411 shares in the company, valued at $1,666,808.01. This trade represents a 20.75% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,578 shares of company stock valued at $795,986 in the last ninety days. 0.36% of the stock is currently owned by company insiders.

Institutional Trading of Becton, Dickinson and Company

Hedge funds have recently added to or reduced their stakes in the business. Bank of Jackson Hole Trust acquired a new position in shares of Becton, Dickinson and Company in the 4th quarter valued at about $25,000. Smallwood Wealth Investment Management LLC purchased a new stake in shares of Becton, Dickinson and Company during the 1st quarter valued at about $27,000. Sierra Ocean LLC purchased a new stake in shares of Becton, Dickinson and Company during the 4th quarter valued at about $29,000. REAP Financial Group LLC raised 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 during the period. Finally, Alpine Bank Wealth Management purchased a new stake in shares of Becton, Dickinson and Company during the 1st quarter valued at about $29,000. 86.97% of the stock is owned by institutional investors and hedge funds.

Becton, Dickinson and Company Stock Up 3.3%

The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.63 and a current ratio of 1.13. The firm has a fifty day simple moving average of $208.84 and a 200-day simple moving average of $222.92. The company has a market capitalization of $49.49 billion, a PE ratio of 28.74, a P/E/G ratio of 1.63 and a beta of 0.31.

Becton, Dickinson and Company (NYSE:BDX - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The medical instruments supplier reported $3.35 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $5.35 billion. During the same period in the previous year, the business earned $3.17 EPS. Becton, Dickinson and Company's revenue for the quarter was up 4.5% compared to the same quarter last year. Equities research analysts anticipate that Becton, Dickinson and Company will post 14.43 EPS for the current fiscal year.

Becton, Dickinson and Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be given a $1.04 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $4.16 annualized dividend and a dividend yield of 2.41%. Becton, Dickinson and Company's payout ratio is 79.39%.

Becton, Dickinson and Company declared that its Board of Directors has approved a stock repurchase program on Tuesday, January 28th that permits the company to repurchase 10,000,000 shares. This repurchase authorization permits the medical instruments supplier to buy shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management 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.