Zacks Investment Research Lowers Becton Dickinson and (BDX) to Hold

Zacks Investment Research downgraded shares of Becton Dickinson and (NYSE:BDX) from a buy rating to a hold rating in a research note released on Friday.

According to Zacks, “In the last year, 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. The acquisition is viewed as a strategic one which will generate benefits from complementary businesses and geographical expansion. In recent past, BD announced that it will divest its soft tissue core needle biopsy products for $100 million to Merit Medical. On the flip side, lackluster performance by the Medical segment, from the prior year period 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.”

Other equities analysts have also issued research reports about the company. Deutsche Bank set a $260.00 target price on Becton Dickinson and and gave the stock a buy rating in a research report on Friday, December 29th. Argus boosted their target price 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. Stifel Nicolaus reissued a buy rating and issued a $245.00 target price on shares of Becton Dickinson and in a research report on Friday, November 3rd. Morgan Stanley boosted their target price on Becton Dickinson and from $205.00 to $245.00 and gave the stock an equal weight rating in a research report on Friday, November 3rd. Finally, Royal Bank of Canada reissued a hold rating and issued a $210.00 target price on shares of Becton Dickinson and in a research report on Wednesday, October 25th. Five 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 stock. Becton Dickinson and currently has an average rating of Buy and an average price target of $230.20.

Shares of Becton Dickinson and (NYSE BDX) traded up $1.89 during trading on Friday, reaching $227.71. 1,870,458 shares of the company were exchanged, compared to its average volume of 1,370,000. The company has a market cap of $52,240.00, a PE ratio of 48.97, a price-to-earnings-growth ratio of 1.76 and a beta of 1.07. Becton Dickinson and has a 52 week low of $169.19 and a 52 week high of $229.68. The company has a current ratio of 5.58, a quick ratio of 5.03 and a debt-to-equity ratio of 1.44.

Becton Dickinson and (NYSE:BDX) last announced its quarterly earnings results on Thursday, November 2nd. The medical instruments supplier reported $2.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.37 by $0.03. The company had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.14 billion. Becton Dickinson and had a net margin of 8.52% and a return on equity of 20.56%. Becton Dickinson and’s revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.12 EPS. research analysts anticipate that Becton Dickinson and will post 10.66 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 8th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Thursday, December 7th. This represents a $3.00 annualized dividend and a dividend yield of 1.32%. This is a positive change from Becton Dickinson and’s previous quarterly dividend of $0.73. Becton Dickinson and’s dividend payout ratio is presently 64.52%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Westwood Holdings Group Inc. increased its position in shares of Becton Dickinson and by 24.2% during the 2nd quarter. Westwood Holdings Group Inc. now owns 1,056,487 shares of the medical instruments supplier’s stock valued at $206,136,000 after purchasing an additional 205,721 shares during the last quarter. Colony Group LLC increased its position in shares of Becton Dickinson and by 2.1% during the 2nd quarter. Colony Group LLC now owns 11,889 shares of the medical instruments supplier’s stock valued at $2,320,000 after purchasing an additional 239 shares during the last quarter. State Street Corp increased its position in shares of Becton Dickinson and by 3.5% during the 2nd quarter. State Street Corp now owns 10,270,221 shares of the medical instruments supplier’s stock valued at $2,003,834,000 after purchasing an additional 342,873 shares during the last quarter. Peapack Gladstone Financial Corp increased its position in shares of Becton Dickinson and by 1.3% during the 2nd quarter. Peapack Gladstone Financial Corp now owns 36,472 shares of the medical instruments supplier’s stock valued at $7,116,000 after purchasing an additional 453 shares during the last quarter. Finally, Fundsmith LLP increased its position in shares of Becton Dickinson and by 0.3% during the 2nd quarter. Fundsmith LLP now owns 2,302,590 shares of the medical instruments supplier’s stock valued at $449,258,000 after purchasing an additional 5,977 shares during the last quarter. 75.53% 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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