Becton Dickinson and (BDX) Downgraded to Hold at Zacks Investment Research
Zacks Investment Research cut shares of Becton Dickinson and (NYSE:BDX) from a buy rating to a hold rating in a research report released on Friday morning.
According to Zacks, “In the last six months, Becton, Dickinson and Company, popularly known as BD, has outperformed the broader industry. BD recently completed the acquisition of C. R. Bard. The company will establish a new segment — BD Interventional in which Bard will be integrated. We view the acquisition as a strategic one which will generate benefits from complementary businesses and geographical expansion. Further, BD announced that it will divest its soft tissue core needle biopsy products for $100 million to Merit Medical. On the flipside, lackluster performance by the Medical segment is a concern. Performance in the segment was affected by sluggishness in the Medication Management Solutions and Pharmaceutical Systems units in the United States. BD temporarily paused shipments of its insulin infusion sets. The voluntary recall of Barricor blood collection tubes in the recent past also adds to our woes.”
A number of other research analysts have also weighed in on the stock. Piper Jaffray Companies reissued a buy rating and set a $213.00 price target on shares of Becton Dickinson and in a research report on Tuesday, September 12th. Wells Fargo & Co started coverage on shares of Becton Dickinson and in a research report on Friday, September 22nd. They set an outperform rating and a $225.00 price target on the stock. Royal Bank of Canada reissued a hold rating and set a $210.00 price target on shares of Becton Dickinson and in a research report on Wednesday, October 25th. Morgan Stanley raised their price target on shares of Becton Dickinson and from $205.00 to $245.00 and gave the company an equal weight rating in a research report on Friday, November 3rd. Finally, Stifel Nicolaus reissued a buy rating and set a $245.00 price target on shares of Becton Dickinson and in a research report on Friday, November 3rd. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Becton Dickinson and presently has an average rating of Buy and an average price target of $230.20.
Becton Dickinson and (BDX) opened at $222.08 on Friday. Becton Dickinson and has a 12 month low of $164.94 and a 12 month high of $229.68. The firm has a market cap of $58,875.11, a price-to-earnings ratio of 47.76, a price-to-earnings-growth ratio of 1.72 and a beta of 1.07. The company has a quick ratio of 5.03, a current ratio of 5.58 and a debt-to-equity ratio of 1.44.
Becton Dickinson and (NYSE:BDX) last released its quarterly earnings data on Thursday, November 2nd. The medical instruments supplier reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.37 by $0.03. Becton Dickinson and had a net margin of 8.52% and a return on equity of 20.56%. The firm had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same period last year, the firm earned $2.12 earnings per share. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. equities research analysts anticipate that Becton Dickinson and will post 10.7 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 8th were given a dividend of $0.75 per share. This is a positive change from Becton Dickinson and’s previous quarterly dividend of $0.73. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date was Thursday, December 7th. Becton Dickinson and’s dividend payout ratio (DPR) is presently 64.52%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Family Firm Inc. increased its holdings in Becton Dickinson and by 0.5% during the second quarter. Family Firm Inc. now owns 1,212 shares of the medical instruments supplier’s stock worth $236,000 after buying an additional 6 shares during the last quarter. Northwest Quadrant Wealth Management LLC increased its holdings in Becton Dickinson and by 0.4% during the second quarter. Northwest Quadrant Wealth Management LLC now owns 1,686 shares of the medical instruments supplier’s stock worth $332,000 after buying an additional 6 shares during the last quarter. NBT Bank N A NY increased its holdings in Becton Dickinson and by 0.3% during the second quarter. NBT Bank N A NY now owns 3,351 shares of the medical instruments supplier’s stock worth $654,000 after buying an additional 10 shares during the last quarter. Good Life Advisors LLC increased its holdings in Becton Dickinson and by 0.6% during the second quarter. Good Life Advisors LLC now owns 2,494 shares of the medical instruments supplier’s stock worth $491,000 after buying an additional 14 shares during the last quarter. Finally, Pathstone Family Office LLC increased its holdings in Becton Dickinson and by 0.4% during the second quarter. Pathstone Family Office LLC now owns 3,974 shares of the medical instruments supplier’s stock worth $2,530,000 after buying an additional 15 shares during the last quarter. Institutional investors and hedge funds own 87.72% of the company’s stock.
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About Becton Dickinson and
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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