Barclays Lowers Becton, Dickinson and Company (NYSE:BDX) Price Target to $261.00

Becton, Dickinson and Company (NYSE:BDX) had its price objective decreased by research analysts at Barclays from $279.00 to $261.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the medical instruments supplier’s stock. Barclays‘s price target would suggest a potential upside of 30.11% from the stock’s previous close.

Several other brokerages have also weighed in on BDX. StockNews.com upgraded Becton, Dickinson and Company from a “hold” rating to a “buy” rating in a report on Wednesday, April 2nd. Piper Sandler upped their price target on shares of Becton, Dickinson and Company from $275.00 to $280.00 and gave the company an “overweight” rating in a report on Tuesday, January 28th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Becton, Dickinson and Company presently has a consensus rating of “Buy” and an average target price of $275.71.

Becton, Dickinson and Company Stock Down 2.2 %

Becton, Dickinson and Company stock opened at $200.61 on Monday. Becton, Dickinson and Company has a 52 week low of $197.73 and a 52 week high of $251.99. The stock has a market cap of $57.60 billion, a price-to-earnings ratio of 33.32, a PEG ratio of 1.63 and a beta of 0.35. The company’s 50-day moving average price is $227.28 and its two-hundred day moving average price is $230.68. 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) last posted its quarterly earnings data on Wednesday, February 5th. The medical instruments supplier reported $3.43 EPS for the quarter, beating analysts’ consensus estimates of $3.00 by $0.43. Becton, Dickinson and Company had a net margin of 8.47% and a return on equity of 15.74%. On average, analysts expect that Becton, Dickinson and Company will post 14.43 EPS for the current fiscal year.

Becton, Dickinson and Company announced that its board has initiated a share 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 repurchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, EVP Richard Byrd sold 1,940 shares of the stock in a transaction 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 completion of the sale, the executive vice president now directly owns 7,411 shares in the company, valued at approximately $1,666,808.01. This trade represents a 20.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael David Garrison sold 597 shares of the business’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $236.51, for a total value of $141,196.47. Following the completion of the transaction, the executive vice president now owns 5,544 shares in the company, valued at $1,311,211.44. This trade represents a 9.72 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,196 shares of company stock worth $962,685. 0.36% of the stock is owned by company insiders.

Hedge Funds Weigh In On Becton, Dickinson and Company

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of Jackson Hole Trust bought a new position in shares of Becton, Dickinson and Company during the 4th quarter valued at $25,000. Sierra Ocean LLC acquired a new stake in shares of Becton, Dickinson and Company in the fourth quarter worth about $29,000. REAP Financial Group LLC boosted its stake 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 worth $29,000 after acquiring an additional 55 shares in the last quarter. Picton Mahoney Asset Management increased its holdings in shares of Becton, Dickinson and Company by 61.4% during the 4th quarter. Picton Mahoney Asset Management now owns 142 shares of the medical instruments supplier’s stock valued at $32,000 after acquiring an additional 54 shares during the last quarter. Finally, Nexus Investment Management ULC acquired a new stake in Becton, Dickinson and Company in the 1st quarter worth approximately $34,000. Institutional investors own 86.97% of the company’s stock.

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.