Becton, Dickinson and Company (BDX) Shares Up 8% Following Better-Than-Expected Earnings

Becton, Dickinson and Company (NYSE:BDX) shot up 8% on Friday following a better than expected earnings announcement. The company traded as high as $224.73 and last traded at $224.74. 645,954 shares traded hands during mid-day trading, a decline of 51% from the average session volume of 1,325,794 shares. The stock had previously closed at $208.06.

The medical instruments supplier reported $2.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.37 by $0.03. The business had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.14 billion. Becton, Dickinson and had a return on equity of 22.51% and a net margin of 8.52%. Becton, Dickinson and’s revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.12 earnings per share.

A number of analysts recently issued reports on BDX shares. Piper Jaffray Companies reissued a “buy” rating and set a $213.00 price objective on shares of Becton, Dickinson and in a research report on Tuesday, September 12th. Zacks Investment Research cut Becton, Dickinson and from a “hold” rating to a “sell” rating in a research report on Monday, October 9th. Wells Fargo & Company started coverage on Becton, Dickinson and in a research report on Friday, September 22nd. They set an “outperform” rating and a $225.00 price objective for the company. Bank of America Corporation reissued a “buy” rating and set a $225.00 price objective (up previously from $200.00) on shares of Becton, Dickinson and in a research report on Friday, July 21st. Finally, BidaskClub upgraded Becton, Dickinson and from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 11th. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Becton, Dickinson and presently has an average rating of “Buy” and an average price target of $209.73.

In other news, insider Ellen R. Strahlman sold 9,283 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $198.21, for a total value of $1,839,983.43. Following the transaction, the insider now directly owns 26,638 shares of the company’s stock, valued at approximately $5,279,917.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Thomas E. Polen, Jr. sold 5,971 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $197.41, for a total value of $1,178,735.11. Following the completion of the transaction, the insider now directly owns 12,861 shares in the company, valued at $2,538,890.01. The disclosure for this sale can be found here. Insiders sold a total of 75,904 shares of company stock worth $15,242,688 over the last three months. 1.40% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Almanack Investment Partners LLC. acquired a new position in shares of Becton, Dickinson and in the 1st quarter worth approximately $105,000. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its holdings in shares of Becton, Dickinson and by 55.8% in the 2nd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 670 shares of the medical instruments supplier’s stock worth $131,000 after acquiring an additional 240 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of Becton, Dickinson and by 8.1% in the 2nd quarter. Parkside Financial Bank & Trust now owns 684 shares of the medical instruments supplier’s stock worth $133,000 after acquiring an additional 51 shares in the last quarter. Harfst & Associates Inc. boosted its holdings in shares of Becton, Dickinson and by 46.4% in the 2nd quarter. Harfst & Associates Inc. now owns 697 shares of the medical instruments supplier’s stock worth $135,000 after acquiring an additional 221 shares in the last quarter. Finally, Financial Architects Inc boosted its holdings in shares of Becton, Dickinson and by 8.0% in the 2nd quarter. Financial Architects Inc now owns 731 shares of the medical instruments supplier’s stock worth $142,000 after acquiring an additional 54 shares in the last quarter. 86.70% of the stock is currently owned by institutional investors and hedge funds.

The company has a market cap of $50,979.11, a price-to-earnings ratio of 23.61 and a beta of 1.04.

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Becton, Dickinson and Company Profile

Becton, Dickinson and Company (BD) is a global medical technology company engaged in the development, manufacture and sale of a range of medical supplies, devices, laboratory equipment and diagnostic products. The Company operates through two segments: BD Medical and BD Life Sciences. The BD Medical segment produces an array of medical technologies and devices that are used to help improve healthcare delivery in a range of settings.

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