Becton Dickinson and Co. (BDX) Rating Increased to Buy at Zacks Investment Research
Becton Dickinson and Co. (NYSE:BDX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday. The firm presently has a $189.00 price objective on the stock. Zacks Investment Research’s price target suggests a potential upside of 10.73% from the stock’s current price.
According to Zacks, “Becton, Dickinson and Company, popularly known as BD, reported an impressive fourth quarter of fiscal 2016, beating the Zacks Consensus Estimate on both counts. The recent collaboration of BD with JDRF, the leading global organization funding type 1 diabetes research is a significant positive in our view. Additionally, the launch of the BD U-500 Insulin Syringe fortifies the company’s position in the niche market of insulin infusion technologies. BD has been gaining prominence in the market with the partnership with Vyaire Medical, the launch of BD Phoenix M50 ID/AST system and further investments to expand the capacity for its insulin syringe manufacturing operation. The company’s new launches FACSymphony, FACSCelesta and FACSMelody has also gained significant traction within a short span of time.”
Other equities research analysts also recently issued research reports about the company. Deutsche Bank AG reiterated a “buy” rating and issued a $189.00 price objective (down previously from $197.00) on shares of Becton Dickinson and in a report on Friday, November 4th. Argus reiterated a “buy” rating and issued a $185.00 price objective on shares of Becton Dickinson and in a report on Friday, October 21st. Jefferies Group reiterated a “buy” rating on shares of Becton Dickinson and in a report on Friday, August 5th. Leerink Swann reiterated a “hold” rating on shares of Becton Dickinson and in a report on Tuesday, August 9th. Finally, Cowen and Company reiterated an “outperform” rating and issued a $185.00 price objective on shares of Becton Dickinson and in a report on Tuesday, August 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. Becton Dickinson and currently has an average rating of “Buy” and an average price target of $175.65.
Shares of Becton Dickinson and (NYSE:BDX) opened at 170.31 on Friday. The firm has a market cap of $36.26 billion, a P/E ratio of 37.93 and a beta of 1.04. Becton Dickinson and has a one year low of $129.50 and a one year high of $181.76. The firm has a 50-day moving average price of $171.40 and a 200 day moving average price of $172.45.
Becton Dickinson and (NYSE:BDX) last announced its quarterly earnings results on Thursday, November 3rd. The company reported $2.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.09 by $0.03. Becton Dickinson and had a return on equity of 24.45% and a net margin of 7.82%. The business had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.22 billion. During the same quarter in the prior year, the company posted $1.94 EPS. The company’s quarterly revenue was up 5.6% on a year-over-year basis. On average, analysts forecast that Becton Dickinson and will post $9.52 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Friday, December 9th will be given a $0.73 dividend. The ex-dividend date is Wednesday, December 7th. This is a boost from Becton Dickinson and’s previous quarterly dividend of $0.66. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.71%. Becton Dickinson and’s dividend payout ratio is 58.54%.
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In related news, insider Linda M. Tharby sold 11,704 shares of the company’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $177.27, for a total value of $2,074,768.08. Following the completion of the sale, the insider now directly owns 22,146 shares of the company’s stock, valued at approximately $3,925,821.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Stephen Sichak sold 10,352 shares of the company’s stock in a transaction dated Friday, November 4th. The shares were sold at an average price of $176.10, for a total value of $1,822,987.20. Following the completion of the sale, the insider now directly owns 26,892 shares of the company’s stock, valued at $4,735,681.20. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.
Several hedge funds have recently made changes to their positions in BDX. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new stake in shares of Becton Dickinson and during the third quarter worth about $108,000. Parkside Financial Bank & Trust boosted its stake in shares of Becton Dickinson and by 0.8% in the third quarter. Parkside Financial Bank & Trust now owns 624 shares of the company’s stock worth $113,000 after buying an additional 5 shares during the period. Point72 Asia Hong Kong Ltd purchased a new stake in shares of Becton Dickinson and during the second quarter worth about $119,000. Acrospire Investment Management LLC boosted its stake in shares of Becton Dickinson and by 458.0% in the second quarter. Acrospire Investment Management LLC now owns 731 shares of the company’s stock worth $124,000 after buying an additional 600 shares during the period. Finally, Assetmark Inc. boosted its stake in shares of Becton Dickinson and by 33.0% in the third quarter. Assetmark Inc. now owns 741 shares of the company’s stock worth $133,000 after buying an additional 184 shares during the period. 81.35% of the stock is owned by hedge funds and other institutional investors.
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 devices, instrument systems and reagents used by healthcare institutions, life science researchers, clinical laboratories, the pharmaceutical industry and the general public.
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