Zacks Investment Research lowered shares of Becton Dickinson and (NYSE:BDX) from a buy rating to a hold rating in a research note issued to 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.”
BDX has been the topic of several other research reports. Royal Bank of Canada reiterated a hold rating and issued a $210.00 price target on shares of Becton Dickinson and in a report on Wednesday, October 25th. Citigroup upgraded shares of Becton Dickinson and from a sell rating to a neutral rating in a report on Friday, January 5th. Wells Fargo & Co began coverage on shares of Becton Dickinson and in a report on Friday, September 22nd. They issued an outperform rating and a $225.00 price target on the stock. Stifel Nicolaus reiterated a buy rating and issued a $245.00 price target on shares of Becton Dickinson and in a report on Friday, November 3rd. Finally, Evercore ISI began coverage on shares of Becton Dickinson and in a report on Wednesday, January 3rd. They issued an outperform rating and a $245.00 price target on the stock. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of Buy and an average target price of $230.20.
Shares of Becton Dickinson and (NYSE:BDX) traded up $1.89 during midday trading on Friday, hitting $227.71. 1,870,458 shares of the company traded hands, compared to its average volume of 1,370,000. 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 has a 12 month low of $169.19 and a 12 month high of $229.68. The stock has a market capitalization of $52,240.00, a P/E ratio of 48.97, a price-to-earnings-growth ratio of 1.76 and a beta of 1.07.
Becton Dickinson and (NYSE:BDX) last released its quarterly earnings results on Thursday, November 2nd. The medical instruments supplier reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.37 by $0.03. The business 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%. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.12 earnings per share. equities analysts predict that Becton Dickinson and will post 10.66 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 8th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend was Thursday, December 7th. This is a boost from Becton Dickinson and’s previous quarterly dividend of $0.73. Becton Dickinson and’s payout ratio is 64.52%.
Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Becton Dickinson and by 8.5% during the 2nd quarter. Vanguard Group Inc. now owns 17,255,948 shares of the medical instruments supplier’s stock valued at $3,366,809,000 after buying an additional 1,353,780 shares in the last quarter. State Street Corp boosted its holdings 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 buying an additional 342,873 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Becton Dickinson and by 4.0% during the 2nd quarter. Northern Trust Corp now owns 2,813,937 shares of the medical instruments supplier’s stock valued at $549,028,000 after buying an additional 106,966 shares in the last quarter. Fiera Capital Corp boosted its holdings in shares of Becton Dickinson and by 7.1% during the 2nd quarter. Fiera Capital Corp now owns 2,782,146 shares of the medical instruments supplier’s stock valued at $542,825,000 after buying an additional 183,372 shares in the last quarter. Finally, Fundsmith LLP boosted its holdings 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 buying an additional 5,977 shares in the last quarter. Hedge funds and other institutional investors own 75.53% of the company’s stock.
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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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