Becton, Dickinson and Company (NYSE:BDX) Given New $280.00 Price Target at Piper Sandler

Becton, Dickinson and Company (NYSE:BDX) had its price objective hoisted by Piper Sandler from $275.00 to $280.00 in a report released on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the medical instruments supplier’s stock.

A number of other brokerages also recently weighed in on BDX. StockNews.com downgraded shares of Becton, Dickinson and Company from a “buy” rating to a “hold” rating in a report on Wednesday, December 18th. Citigroup raised shares of Becton, Dickinson and Company from a “neutral” rating to a “buy” rating and upped their price target for the company from $255.00 to $275.00 in a report on Tuesday, October 1st. Finally, Evercore ISI upped their price target on shares of Becton, Dickinson and Company from $286.00 to $290.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $283.00.

Becton, Dickinson and Company Stock Performance

BDX stock opened at $249.75 on Tuesday. The company has a market capitalization of $72.43 billion, a P/E ratio of 42.05, a PEG ratio of 1.72 and a beta of 0.39. The company has a 50-day simple moving average of $228.56 and a 200 day simple moving average of $233.31. Becton, Dickinson and Company has a fifty-two week low of $218.75 and a fifty-two week high of $250.91. The company has a quick ratio of 0.74, a current ratio of 1.17 and a debt-to-equity ratio of 0.69.

Becton, Dickinson and Company (NYSE:BDX) last issued its quarterly earnings results on Thursday, November 7th. The medical instruments supplier reported $3.81 earnings per share for the quarter, beating analysts’ consensus estimates of $3.77 by $0.04. Becton, Dickinson and Company had a net margin of 8.55% and a return on equity of 14.89%. The company had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.38 billion. During the same period in the prior year, the company earned $3.42 EPS. Becton, Dickinson and Company’s revenue was up 6.9% on a year-over-year basis. Sell-side analysts predict that Becton, Dickinson and Company will post 14.42 earnings per share for the current fiscal year.

Becton, Dickinson and Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.67%. Becton, Dickinson and Company’s dividend payout ratio is presently 70.03%.

Becton, Dickinson and Company declared that its Board of Directors has authorized a share repurchase plan on Tuesday, January 28th that allows the company to repurchase 10,000,000 outstanding shares. This repurchase authorization allows the medical instruments supplier to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other news, EVP Roland Goette sold 638 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $219.03, for a total value of $139,741.14. Following the transaction, the executive vice president now owns 14,217 shares in the company, valued at $3,113,949.51. This represents a 4.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael David Garrison sold 2,838 shares of the company’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $223.33, for a total value of $633,810.54. Following the completion of the transaction, the executive vice president now owns 6,141 shares in the company, valued at $1,371,469.53. This represents a 31.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,844 shares of company stock worth $2,210,716 in the last 90 days. Company insiders own 0.36% of the company’s stock.

Hedge Funds Weigh In On Becton, Dickinson and Company

A number of hedge funds have recently added to or reduced their stakes in BDX. Charles Schwab Investment Management Inc. increased its holdings in Becton, Dickinson and Company by 79.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,986,543 shares of the medical instruments supplier’s stock worth $720,089,000 after buying an additional 1,317,723 shares during the last quarter. Nordea Investment Management AB increased its holdings in Becton, Dickinson and Company by 31.0% in the fourth quarter. Nordea Investment Management AB now owns 2,844,566 shares of the medical instruments supplier’s stock worth $647,082,000 after buying an additional 673,568 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Becton, Dickinson and Company by 9.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,365,554 shares of the medical instruments supplier’s stock worth $1,293,635,000 after buying an additional 460,440 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in Becton, Dickinson and Company in the third quarter worth approximately $108,243,000. Finally, The Manufacturers Life Insurance Company boosted its position in Becton, Dickinson and Company by 62.2% during the third quarter. The Manufacturers Life Insurance Company now owns 1,107,317 shares of the medical instruments supplier’s stock worth $266,974,000 after purchasing an additional 424,487 shares during the period. Institutional investors and hedge funds own 86.97% of the company’s stock.

About Becton, Dickinson and Company

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.