Becton Dickinson and (NYSE:BDX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors 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.”
A number of other research analysts also recently commented on the company. Citigroup upgraded Becton Dickinson and from a “sell” rating to a “neutral” rating in a research note on Friday, January 5th. KeyCorp assumed coverage on Becton Dickinson and in a research note on Friday, January 5th. They issued an “overweight” rating and a $260.00 target price on the stock. Evercore ISI assumed coverage on Becton Dickinson and in a research note on Wednesday, January 3rd. They issued an “outperform” rating and a $245.00 target price on the stock. Deutsche Bank set a $260.00 target price on Becton Dickinson and and gave the company a “buy” rating in a research note on Friday, December 29th. Finally, Argus boosted their target price on Becton Dickinson and to $235.00 and gave the company a “buy” rating in a research note on Thursday, December 14th. They noted that the move was a valuation call. Five equities research 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. Becton Dickinson and currently has an average rating of “Buy” and an average target price of $230.20.
Becton Dickinson and (NYSE:BDX) last issued its earnings results on Thursday, November 2nd. The medical instruments supplier reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.37 by $0.03. Becton Dickinson and had a return on equity of 20.56% and a net margin of 8.52%. The firm had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the previous year, the company posted $2.12 earnings per share. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. equities analysts predict that Becton Dickinson and will post 10.66 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in BDX. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its stake in shares of Becton Dickinson and by 55.8% during 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. Harfst & Associates Inc. boosted its stake in shares of Becton Dickinson and by 46.4% during 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. Harvest Fund Management Co. Ltd boosted its stake in shares of Becton Dickinson and by 82.8% during the 2nd quarter. Harvest Fund Management Co. Ltd now owns 746 shares of the medical instruments supplier’s stock worth $146,000 after acquiring an additional 338 shares in the last quarter. Acrospire Investment Management LLC boosted its stake in shares of Becton Dickinson and by 259.7% during the 2nd quarter. Acrospire Investment Management LLC now owns 831 shares of the medical instruments supplier’s stock worth $162,000 after acquiring an additional 600 shares in the last quarter. Finally, Valeo Financial Advisors LLC bought a new stake in shares of Becton Dickinson and during the 3rd quarter worth about $191,000. Institutional investors own 75.53% 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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