Key Points
- CEO Thomas Polen sold 2,993 shares at $210 each, totaling $628,530, under a prearranged Rule 10b5-1 plan. He retained 110,163 shares after the sale.
- BD reported quarterly EPS of $4.15, beating the $4.07 consensus, while revenue rose 5.4% year over year to $5.27 billion.
- The company authorized repurchases of up to 10 million shares and raised its quarterly dividend to $1.06 per share.
Becton, Dickinson and Company (NYSE:BDX - Get Free Report) CEO Thomas Polen, Jr. sold 2,993 shares of the company's stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $210.00, for a total value of $628,530.00. Following the sale, the chief executive officer owned 110,163 shares of the company's stock, valued at $23,134,230. This trade represents a 2.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Becton, Dickinson and Company Trading Up 1.5%
NYSE BDX opened at $215.13 on Tuesday. The company has a current ratio of 0.87, a quick ratio of 0.51 and a debt-to-equity ratio of 0.55. The business has a fifty day simple moving average of $188.68 and a 200 day simple moving average of $170.32. Becton, Dickinson and Company has a 12 month low of $138.31 and a 12 month high of $216.74. The firm has a market capitalization of $59.28 billion, a P/E ratio of 51.96, a PEG ratio of 14.10 and a beta of 0.22.
Becton, Dickinson and Company (NYSE:BDX - Get Free Report) last posted its quarterly earnings data on Thursday, November 5th. The medical instruments supplier reported $4.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.07 by $0.08. Becton, Dickinson and Company had a net margin of 4.52% and a return on equity of 14.79%. The firm had revenue of $5.27 billion for the quarter, compared to the consensus estimate of $5.11 billion. During the same period in the previous year, the firm earned $3.96 EPS. The business's revenue for the quarter was up 5.4% compared to the same quarter last year. On average, analysts predict that Becton, Dickinson and Company will post 13.27 EPS for the current fiscal year.
Becton, Dickinson and Company declared that its board has authorized a share repurchase plan on Thursday, November 5th that permits the company to buy back 10,000,000 shares. This buyback authorization permits the medical instruments supplier to repurchase up to 3.6% of its shares through open market purchases. Share buyback plans are usually a sign that the company's leadership believes its stock is undervalued.
Becton, Dickinson and Company Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Thursday, December 10th will be given a dividend of $1.06 per share. The ex-dividend date of this dividend is Thursday, December 10th. This is an increase from Becton, Dickinson and Company's previous quarterly dividend of $1.05. This represents a $4.24 dividend on an annualized basis and a dividend yield of 2.0%. Becton, Dickinson and Company's payout ratio is 101.45%.
Institutional Investors Weigh In On Becton, Dickinson and Company
Large investors have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in shares of Becton, Dickinson and Company during the 2nd quarter worth $3,721,533,000. State Street Corp boosted its holdings in shares of Becton, Dickinson and Company by 8.5% in the 2nd quarter. State Street Corp now owns 15,000,064 shares of the medical instruments supplier's stock worth $2,269,960,000 after buying an additional 1,177,256 shares during the last quarter. First Eagle Investment Management LLC grew its position in Becton, Dickinson and Company by 15.8% during the second quarter. First Eagle Investment Management LLC now owns 13,815,335 shares of the medical instruments supplier's stock valued at $2,090,675,000 after buying an additional 1,887,224 shares during the period. Bank of America Corp DE bought a new position in Becton, Dickinson and Company during the second quarter valued at about $474,993,000. Finally, Legal & General Group Plc grew its position in Becton, Dickinson and Company by 1.5% during the second quarter. Legal & General Group Plc now owns 2,101,695 shares of the medical instruments supplier's stock valued at $318,050,000 after buying an additional 30,766 shares during the period. 86.97% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on BDX shares. Zacks Research raised shares of Becton, Dickinson and Company from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 21st. Barclays assumed coverage on shares of Becton, Dickinson and Company in a research note on Wednesday, October 7th. They issued an "underweight" rating and a $165.00 price objective for the company. Bank of America lifted their target price on shares of Becton, Dickinson and Company from $185.00 to $200.00 and gave the stock a "neutral" rating in a research report on Monday, August 31st. UBS Group started coverage on Becton, Dickinson and Company in a research note on Tuesday, July 28th. They issued a "buy" rating and a $190.00 target price on the stock. Finally, Jefferies Financial Group reaffirmed a "buy" rating and issued a $242.00 target price on shares of Becton, Dickinson and Company in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Becton, Dickinson and Company has an average rating of "Moderate Buy" and a consensus target price of $195.47.
View Our Latest Analysis on BDX
Becton, Dickinson and Company Company Profile
(
Get Free Report)
Becton, Dickinson and Company, commonly known as BD, is a global medical technology company that develops and manufactures products used in healthcare, clinical laboratories and life sciences research. Founded in 1897, the company has a long history of producing medical devices and supplies.
BD's products include syringes, needles, infusion systems and medication-management technologies, as well as equipment and supplies for collecting and processing clinical specimens. The company also provides diagnostic systems, laboratory instruments and tools used in areas such as cell analysis and biomedical research.
Its offerings serve hospitals, clinics, laboratories, researchers and pharmaceutical companies.
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