Zacks Investment Research upgraded shares of Becton Dickinson and (NYSE:BDX) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning. Zacks Investment Research currently has $240.00 price objective on the medical instruments supplier’s stock.
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.”
BDX has been the topic of several other research reports. Royal Bank of Canada reaffirmed a hold rating and set a $210.00 price target on shares of Becton Dickinson and in a research report on Wednesday, October 25th. Deutsche Bank set a $260.00 price target on Becton Dickinson and and gave the stock a buy rating in a research report on Friday, December 29th. Stifel Nicolaus reaffirmed a buy rating and set a $245.00 price target on shares of Becton Dickinson and in a research report on Friday, November 3rd. Morgan Stanley lifted their price target 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, Argus lifted their price target 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. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Buy and an average price target of $230.20.
Shares of Becton Dickinson and (NYSE:BDX) traded up $1.00 during midday trading on Wednesday, hitting $220.99. The stock had a trading volume of 1,332,300 shares, compared to its average volume of 1,923,533. 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 has a 1-year low of $163.36 and a 1-year high of $229.68. The firm has a market cap of $50,760.00, a price-to-earnings ratio of 47.52, a PEG ratio of 1.72 and a beta of 1.07.
Becton Dickinson and (NYSE:BDX) last issued its earnings results on Thursday, November 2nd. The medical instruments supplier reported $2.40 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same quarter last year, the company earned $2.12 EPS. The business’s quarterly revenue was down 2.0% on a year-over-year basis. sell-side analysts forecast that Becton Dickinson and will post 10.63 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 8th were paid a $0.75 dividend. This is an increase from Becton Dickinson and’s previous quarterly dividend of $0.73. This represents a $3.00 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend was Thursday, December 7th. Becton Dickinson and’s dividend payout ratio (DPR) is 64.52%.
Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Becton Dickinson and by 8.5% in 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 purchasing an additional 1,353,780 shares during the last quarter. State Street Corp grew its stake in shares of Becton Dickinson and by 3.5% in 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. Northern Trust Corp grew its stake in shares of Becton Dickinson and by 4.0% in 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 purchasing an additional 106,966 shares during the last quarter. Fiera Capital Corp grew its stake in shares of Becton Dickinson and by 7.1% in 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 purchasing an additional 183,372 shares during the last quarter. Finally, Fundsmith LLP grew its stake in shares of Becton Dickinson and by 0.3% in 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. Institutional investors own 87.72% 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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