Becton, Dickinson and Company (BDX) Rating Increased to Buy at Zacks Investment Research

Becton, Dickinson and Company (NYSE:BDX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The brokerage currently has a $234.00 price objective on the medical instruments supplier’s stock. Zacks Investment Research‘s target price suggests a potential upside of 12.14% from the stock’s previous close.

According to Zacks, “Over the past year, Becton, Dickinson and Company, popularly known as BD, has outperformed the broader industry trends with respect to price performance. The company is steadily progressing with its planned acquisition of medical technology player, C. R. Bard. The $24-billion transaction is slated to be completed in the fourth quarter of fiscal 2017. Post completion, BD expects growth in adjusted earnings starting fiscal 2019. We view the acquisition as a strategic fit which will generate benefits from complementary businesses and geographical expansion. BD's cost-control initiatives are also noteworthy. On the flipside, unfavorable sales performance from the BD Medical segment is a concern in the near term. Performance in the segment was affected by sluggishness in the Medication Management Solutions and Pharmaceutical Systems units in the U.S.”

Several other analysts also recently issued reports on BDX. Cowen and Company reissued an “outperform” rating and set a $230.00 target price (up previously from $200.00) on shares of Becton, Dickinson and in a research note on Monday, July 10th. BidaskClub raised Becton, Dickinson and from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 11th. Bank of America Corporation reissued a “buy” rating and set a $225.00 target price (up previously from $200.00) on shares of Becton, Dickinson and in a research note on Friday, July 21st. Stifel Nicolaus reissued a “buy” rating on shares of Becton, Dickinson and in a research note on Wednesday, August 9th. Finally, Barclays PLC reissued an “equal weight” rating and set a $210.00 target price (up previously from $205.00) on shares of Becton, Dickinson and in a research note on Thursday, August 10th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $205.79.

Becton, Dickinson and (NYSE:BDX) last posted its quarterly earnings data on Thursday, August 3rd. The medical instruments supplier reported $2.46 EPS for the quarter, topping the consensus estimate of $2.44 by $0.02. Becton, Dickinson and had a return on equity of 22.53% and a net margin of 6.25%. The firm had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter last year, the company earned $2.35 earnings per share. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year.

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In other Becton, Dickinson and news, EVP Ribo Alberto Mas sold 7,463 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $201.41, for a total transaction of $1,503,122.83. Following the completion of the transaction, the executive vice president now owns 29,323 shares in the company, valued at approximately $5,905,945.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gary M. Cohen sold 15,512 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $203.77, for a total value of $3,160,880.24. Following the transaction, the insider now owns 95,781 shares of the company’s stock, valued at approximately $19,517,294.37. The disclosure for this sale can be found here. Insiders have sold a total of 75,904 shares of company stock valued at $15,242,688 in the last 90 days. 1.40% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BDX. Waldron LP purchased a new position in Becton, Dickinson and during the 1st quarter valued at approximately $383,000. Coldstream Capital Management Inc. boosted its holdings in shares of Becton, Dickinson and by 19.6% in the 1st quarter. Coldstream Capital Management Inc. now owns 1,929 shares of the medical instruments supplier’s stock worth $354,000 after purchasing an additional 316 shares during the period. Great Lakes Advisors LLC boosted its holdings in shares of Becton, Dickinson and by 0.9% in the 1st quarter. Great Lakes Advisors LLC now owns 26,761 shares of the medical instruments supplier’s stock worth $4,909,000 after purchasing an additional 238 shares during the period. Ameritas Investment Partners Inc. boosted its holdings in shares of Becton, Dickinson and by 1.4% in the 1st quarter. Ameritas Investment Partners Inc. now owns 5,953 shares of the medical instruments supplier’s stock worth $1,091,000 after purchasing an additional 81 shares during the period. Finally, Mason Street Advisors LLC boosted its holdings in shares of Becton, Dickinson and by 1.3% in the 1st quarter. Mason Street Advisors LLC now owns 29,411 shares of the medical instruments supplier’s stock worth $5,395,000 after purchasing an additional 367 shares during the period. Institutional investors and hedge funds own 86.70% of the company’s stock.

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.

Analyst Recommendations for Becton, Dickinson and (NYSE:BDX)

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