Zacks Investment Research lowered shares of Becton Dickinson and (NYSE:BDX) from a buy rating to a hold rating in a research report released on Tuesday.
According to Zacks, “In the past year, Becton, Dickinson and Company, popularly known as BD, outperformed the industry in which it belongs. A strong guidance for fiscal 2018 instills investor’s optimism. BD recently completed the acquisition of C. R. Bard. The company established a new segment — BD Interventional — where Bard will be integrated. Further, in collaboration with Check-Points Health B.V., the company obtained CE Mark for molecular screening test for antibiotic-resistant carbapenemase-producing organisms (CPOs) on the BD MAX System. On the flip side, BD continues to face headwinds because of the previously disclosed change in its U.S. dispensing business model. Further, lackluster performance by the Medication Management Solutions unit is a concern. BD temporarily paused shipments of insulin infusion sets. The recent recall of Barricor blood collection tubes in the quarter adds to the woes.”
A number of other analysts have also recently weighed in on BDX. Argus increased their price objective on Becton Dickinson and to $235.00 and gave the stock a buy rating in a research report on Thursday, December 14th. They noted that the move was a valuation call. Deutsche Bank set a $260.00 price target on Becton Dickinson and and gave the company a buy rating in a report on Friday, December 29th. Evercore ISI began coverage on Becton Dickinson and in a report on Wednesday, January 3rd. They issued an outperform rating and a $245.00 price target for the company. KeyCorp began coverage on Becton Dickinson and in a report on Friday, January 5th. They issued an overweight rating and a $260.00 price target for the company. Finally, Citigroup raised Becton Dickinson and from a sell rating to a neutral rating in a report on Friday, January 5th. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of Buy and an average target price of $238.00.
Becton Dickinson and (NYSE:BDX) last posted its quarterly earnings data on Tuesday, February 6th. The medical instruments supplier reported $2.48 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.07. Becton Dickinson and had a return on equity of 16.19% and a net margin of 2.71%. The company had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.05 billion. During the same period last year, the firm earned $2.33 EPS. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. equities analysts predict that Becton Dickinson and will post 10.94 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Friday, March 9th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend is Thursday, March 8th. Becton Dickinson and’s payout ratio is currently 120.48%.
In related news, Director Timothy M. Ring sold 269,661 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $217.82, for a total value of $58,737,559.02. Following the completion of the transaction, the director now directly owns 295,753 shares of the company’s stock, valued at approximately $64,420,918.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP John E. Gallagher sold 5,346 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $226.08, for a total value of $1,208,623.68. Following the completion of the transaction, the vice president now directly owns 9,391 shares of the company’s stock, valued at $2,123,117.28. The disclosure for this sale can be found here. Insiders sold a total of 279,231 shares of company stock valued at $60,895,317 over the last ninety days. 1.00% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Zions Bancorporation increased its stake in Becton Dickinson and by 23.7% in the 3rd quarter. Zions Bancorporation now owns 10,718 shares of the medical instruments supplier’s stock valued at $2,100,000 after purchasing an additional 2,050 shares in the last quarter. SevenBridge Financial Group LLC increased its stake in Becton Dickinson and by 5.2% in the 3rd quarter. SevenBridge Financial Group LLC now owns 12,579 shares of the medical instruments supplier’s stock valued at $2,465,000 after purchasing an additional 622 shares in the last quarter. Cigna Investments Inc. New increased its stake in Becton Dickinson and by 11.8% in the 4th quarter. Cigna Investments Inc. New now owns 9,741 shares of the medical instruments supplier’s stock valued at $2,085,000 after purchasing an additional 1,025 shares in the last quarter. BlackRock Inc. increased its stake in Becton Dickinson and by 6.0% in the 4th quarter. BlackRock Inc. now owns 18,811,302 shares of the medical instruments supplier’s stock valued at $4,026,750,000 after purchasing an additional 1,071,288 shares in the last quarter. Finally, Macquarie Group Ltd. increased its stake in Becton Dickinson and by 17.5% in the 3rd quarter. Macquarie Group Ltd. now owns 93,453 shares of the medical instruments supplier’s stock valued at $18,312,000 after purchasing an additional 13,900 shares in the last quarter. 82.40% of the stock is owned by hedge funds and other institutional investors.
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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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