Becton, Dickinson and Company (NYSE:BDX) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Becton, Dickinson and Company (NYSE:BDX) from a buy rating to a hold rating in a report released on Monday, August 7th.

According to Zacks, “Becton, Dickinson and Company, popularly known as BD, saw a mixed third quarter, wherein adjusted earnings beat the Zacks Consensus Estimate, while revenues missed the same. A solid guidance for fiscal 2017 instills our confidence in the stock. The company is steadily progressing with its planned acquisition of medical technology player, C. R. Bard. The $24-billion transaction is slated to be completed in the fourth quarter. Post completion, BD expects growth in adjusted earnings starting fiscal 2019. We view the acquisition as a strategic fit which will generate benefits from complementary businesses and geographical expansion. BD's cost-control initiatives are also noteworthy. On the flipside, unfavorable sales performance from the BD Medical segment is a concern. Massive growth in the segment was negated by sluggishness in the Medication Management Solutions and Pharmaceutical Systems units in the U.S.”

Several other analysts also recently issued reports on the stock. Evercore ISI raised shares of Becton, Dickinson and from an in-line rating to an outperform rating and lifted their price target for the company 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 target for the company from $210.00 to $180.00 in a research report on Friday, June 30th. Bank of America Corporation reissued a buy rating and issued a $225.00 price target (up previously from $200.00) on shares of Becton, Dickinson and in a research report on Friday, July 21st. Royal Bank Of Canada reissued a hold rating and issued a $177.00 price target 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 analyst has rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Becton, Dickinson and has a consensus rating of Buy and a consensus target price of $195.79.

Shares of Becton, Dickinson and (NYSE:BDX) traded down 0.81% during mid-day trading on Monday, hitting $197.69. 989,225 shares of the stock were exchanged. The stock has a market capitalization of $44.99 billion, a P/E ratio of 57.25 and a beta of 1.05. Becton, Dickinson and has a 12-month low of $161.29 and a 12-month high of $206.63. The stock’s 50 day moving average price is $199.72 and its 200-day moving average price is $188.69.

Becton, Dickinson and (NYSE:BDX) last posted its quarterly earnings results on Thursday, August 3rd. The medical instruments supplier reported $2.46 earnings per share (EPS) for the quarter, beating the 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 business had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter last year, the firm posted $2.35 EPS. Becton, Dickinson and’s revenue was down 5.1% compared to the same quarter last year. On average, equities research analysts expect that Becton, Dickinson and will post $9.46 EPS for the current fiscal year.

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The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be paid a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date is Thursday, September 7th. Becton, Dickinson and’s payout ratio is 83.43%.

In other news, insider Nabil Shabshab sold 6,149 shares of Becton, Dickinson and stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $201.76, for a total transaction of $1,240,622.24. Following the sale, the insider now directly owns 15,648 shares in the company, valued at approximately $3,157,140.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ribo Alberto Mas sold 7,463 shares of Becton, Dickinson and stock in a transaction on Monday, August 14th. The stock was sold at an average price of $201.41, for a total value of $1,503,122.83. Following the sale, the executive vice president now owns 29,323 shares in the company, valued at $5,905,945.43. The disclosure for this sale can be found here. Insiders have sold a total of 57,631 shares of company stock worth $11,112,178 over the last quarter. Company insiders own 1.40% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Rockland Trust Co. purchased a new stake in shares of Becton, Dickinson and during the first quarter worth about $307,000. Wells Fargo & Company MN boosted its stake 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 worth $602,246,000 after buying an additional 39,362 shares in the last quarter. AMG National Trust Bank boosted its stake 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 worth $1,813,000 after buying an additional 401 shares in the last quarter. Integrated Wealth Management boosted its stake 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 worth $999,000 after buying an additional 181 shares in the last quarter. Finally, Boston Financial Mangement LLC boosted its stake in shares of Becton, Dickinson and by 10.2% in the first quarter. Boston Financial Mangement LLC now owns 55,702 shares of the medical instruments supplier’s stock worth $10,218,000 after buying an additional 5,152 shares in the last quarter. Institutional investors own 75.57% of the company’s stock.

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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