Becton, Dickinson and Company (BDX) Upgraded at Zacks Investment Research

Becton, Dickinson and Company (NYSE:BDX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Monday, July 17th. The firm currently has a $225.00 price target on the medical instruments supplier’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 12.30% from the company’s previous close.

According to Zacks, “Becton, Dickinson and Company, popularly known as BD, is steadily moving towards its announced acquisition of medical technology player, C. R. Bard. The $24 billion transaction is slated to be completed in the fourth quarter. Post completion of the acquisition, BD expects growth in adjusted earnings starting fiscal 2019. We believe the acquisition to be a strategic fit and would generate benefits from complementary businesses and geographical expansion. Becton's cost-control initiatives are also noteworthy. On the flipside, unfavorable sales performance from the BD Medical segment is a concern. Also, adverse foreign exchange is likely to pose major headwinds for the rest of the fiscal. Furthermore, the company had an unfavorable run on the bourse over the last three months, trading significantly below the broader industry.”

A number of other equities analysts have also recently commented on the stock. Evercore ISI raised shares of Becton, Dickinson and from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $186.00 to $200.00 in a research report on Monday, April 24th. Raymond James Financial, Inc. raised shares of Becton, Dickinson and from an “outperform” rating to a “strong-buy” rating and reduced their price objective for the stock from $210.00 to $180.00 in a research report on Friday, June 30th. Jefferies Group LLC reaffirmed a “buy” rating and set a $200.00 price objective on shares of Becton, Dickinson and in a research report on Wednesday, March 29th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $177.00 price objective on shares of Becton, Dickinson and in a research report on Thursday, April 13th. Finally, BidaskClub raised shares of Becton, Dickinson and from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 11th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Becton, Dickinson and has a consensus rating of “Buy” and a consensus target price of $195.79.

Becton, Dickinson and (NYSE:BDX) traded up 1.08% during trading on Monday, reaching $200.36. 1,251,199 shares of the company traded hands. Becton, Dickinson and has a 12 month low of $161.29 and a 12 month high of $206.63. The company’s 50-day moving average is $198.90 and its 200 day moving average is $187.70. The company has a market cap of $45.59 billion, a PE ratio of 58.02 and a beta of 1.05.

Becton, Dickinson and (NYSE:BDX) last released its quarterly earnings data on Thursday, August 3rd. The medical instruments supplier reported $2.46 EPS for the quarter, topping the Zacks’ consensus estimate of $2.44 by $0.02. Becton, Dickinson and had a net margin of 6.25% and a return on equity of 22.53%. The firm had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.06 billion. During the same period in the previous year, the business posted $2.35 earnings per share. The company’s revenue for the quarter was down 5.1% compared to the same quarter last year. On average, analysts anticipate that Becton, Dickinson and will post $9.46 earnings per share for the current year.

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In related news, insider Ellen R. Strahlman sold 9,283 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $198.21, for a total value of $1,839,983.43. Following the completion of the transaction, the insider now owns 26,638 shares of the company’s stock, valued at $5,279,917.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Thomas E. Polen, Jr. sold 5,971 shares of the business’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $197.41, for a total value of $1,178,735.11. Following the completion of the transaction, the insider now directly owns 12,861 shares of the company’s stock, valued at approximately $2,538,890.01. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,019 shares of company stock valued at $8,368,433. 1.40% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Cohen Lawrence B increased its position in shares of Becton, Dickinson and by 39.1% in the first quarter. Cohen Lawrence B now owns 4,272 shares of the medical instruments supplier’s stock valued at $784,000 after buying an additional 1,200 shares during the last quarter. Rockland Trust Co. acquired a new position in shares of Becton, Dickinson and during the first quarter valued at approximately $307,000. Wells Fargo & Company MN increased its position in shares of Becton, Dickinson and by 1.2% in the first quarter. Wells Fargo & Company MN now owns 3,283,068 shares of the medical instruments supplier’s stock valued at $602,246,000 after buying an additional 39,362 shares during the last quarter. AMG National Trust Bank increased its position in shares of Becton, Dickinson and by 4.2% in the first quarter. AMG National Trust Bank now owns 9,880 shares of the medical instruments supplier’s stock valued at $1,813,000 after buying an additional 401 shares during the last quarter. Finally, Integrated Wealth Management increased its position in shares of Becton, Dickinson and by 3.4% in the first quarter. Integrated Wealth Management now owns 5,444 shares of the medical instruments supplier’s stock valued at $999,000 after buying an additional 181 shares during the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

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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