Becton Dickinson and Co. (NYSE:BDX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday. The brokerage presently has a $189.00 target price on the stock. Zacks Investment Research’s price target suggests a potential upside of 12.18% from the stock’s previous close.
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.”
A number of other research firms have also issued reports on BDX. Citigroup Inc. lowered shares of Becton Dickinson and from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $167.00 to $165.00 in a report on Friday, September 23rd. Deutsche Bank AG reissued 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. Jefferies Group upped their price objective on shares of Becton Dickinson and from $190.00 to $192.00 and gave the company a “buy” rating in a report on Thursday, July 28th. Cowen and Company reissued an “outperform” rating and issued a $185.00 price objective on shares of Becton Dickinson and in a report on Tuesday, August 16th. Finally, Leerink Swann reissued a “hold” rating on shares of Becton Dickinson and in a report on Tuesday, August 9th. One analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $175.65.
Becton Dickinson and (NYSE:BDX) opened at 168.48 on Friday. The firm’s 50-day moving average is $171.92 and its 200-day moving average is $172.32. The stock has a market cap of $35.87 billion, a P/E ratio of 37.52 and a beta of 1.04. Becton Dickinson and has a 52-week low of $129.50 and a 52-week high of $181.76.
Becton Dickinson and (NYSE:BDX) last released its earnings results on Thursday, November 3rd. The company reported $2.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.09 by $0.03. Becton Dickinson and had a net margin of 7.82% and a return on equity of 24.44%. The business earned $3.23 billion during the quarter, compared to analyst estimates of $3.22 billion. During the same quarter in the prior year, the firm earned $1.94 earnings per share. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. Equities research analysts predict that Becton Dickinson and will post $9.52 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Friday, December 9th will be given a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 1.73%. The ex-dividend date is Wednesday, December 7th. This is a boost from Becton Dickinson and’s previous quarterly dividend of $0.66. Becton Dickinson and’s dividend payout ratio is currently 58.54%.
In related news, insider Stephen Sichak sold 10,352 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now owns 26,892 shares of the company’s stock, valued at $4,735,681.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Linda M. Tharby sold 11,704 shares of the firm’s stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $177.27, for a total transaction of $2,074,768.08. Following the completion of the sale, the insider now directly owns 22,146 shares in the company, valued at approximately $3,925,821.42. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new stake in shares of Becton Dickinson and during the third quarter valued at $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 valued at $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 valued at $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 valued at $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 valued at $133,000 after buying an additional 184 shares during the period. 82.68% of the stock is currently 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.