Shares of Becton, Dickinson and Company (NYSE:BDX - Get Free Report) saw strong trading volume on Friday following a stronger than expected earnings report. 1,802,965 shares changed hands during trading, an increase of 1% from the previous session's volume of 1,785,142 shares.The stock last traded at $167.24 and had previously closed at $169.54.
The medical instruments supplier reported $3.35 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 business had revenue of $5.27 billion during the quarter, compared to analysts' expectations of $5.35 billion. During the same quarter last year, the firm posted $3.17 earnings per share. The firm's revenue was up 4.5% on a year-over-year basis.
Becton, Dickinson and Company Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be given a dividend of $1.04 per share. The ex-dividend date is Monday, June 9th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 2.47%. Becton, Dickinson and Company's payout ratio is presently 69.10%.
Becton, Dickinson and Company announced that its board has authorized a stock repurchase plan on Tuesday, January 28th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the medical instruments supplier to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.
Analyst Ratings Changes
Several analysts have recently commented on the company. Wells Fargo & Company downgraded Becton, Dickinson and Company from an "overweight" rating to an "equal weight" rating in a research note on Thursday. StockNews.com upgraded Becton, Dickinson and Company from a "hold" rating to a "buy" rating in a report on Wednesday, April 2nd. Raymond James cut Becton, Dickinson and Company from an "outperform" rating to a "market perform" rating in a report on Friday. William Blair downgraded shares of Becton, Dickinson and Company from an "outperform" rating to a "market perform" rating in a research report on Thursday. Finally, Stifel Nicolaus lowered their price objective on shares of Becton, Dickinson and Company from $280.00 to $224.00 and set a "buy" rating on the stock in a report on Friday. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $235.88.
Read Our Latest Report on BDX
Insider Activity
In other Becton, Dickinson and Company news, Director Jeffrey William Henderson acquired 1,500 shares of the business's stock in a transaction on Monday, February 10th. The shares were acquired at an average price of $233.62 per share, with a total value 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. This trade represents a 23.02 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Bertram L. Scott sold 700 shares of the firm's stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $227.99, for a total value of $159,593.00. Following the sale, the director now directly owns 36,033 shares of the company's stock, valued at approximately $8,215,163.67. This represents a 1.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,578 shares of company stock worth $795,986 over the last quarter. Insiders own 0.36% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Becton, Dickinson and Company by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 26,743,052 shares of the medical instruments supplier's stock valued at $6,067,196,000 after purchasing an additional 184,288 shares during the period. T. Rowe Price Investment Management Inc. grew its stake in shares of Becton, Dickinson and Company by 36.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 12,126,707 shares of the medical instruments supplier's stock worth $2,751,187,000 after acquiring an additional 3,219,317 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Becton, Dickinson and Company by 10.8% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 6,843,856 shares of the medical instruments supplier's stock worth $1,567,654,000 after acquiring an additional 667,957 shares during the last quarter. Geode Capital Management LLC raised its stake in Becton, Dickinson and Company by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 6,351,537 shares of the medical instruments supplier's stock valued at $1,437,161,000 after acquiring an additional 66,024 shares during the period. Finally, First Eagle Investment Management LLC raised its position in shares of Becton, Dickinson and Company by 31.4% in the fourth quarter. First Eagle Investment Management LLC now owns 4,426,022 shares of the medical instruments supplier's stock valued at $1,004,132,000 after purchasing an additional 1,057,879 shares during the period. 86.97% of the stock is owned by institutional investors.
Becton, Dickinson and Company Price Performance
The business's 50 day moving average is $215.99 and its two-hundred day moving average is $226.21. 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 market capitalization of $48.27 billion, a PE ratio of 27.91, a price-to-earnings-growth ratio of 1.63 and a beta of 0.35.
About Becton, Dickinson and Company
(
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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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