Becton, Dickinson and Company (NYSE:BDX) Rating Lowered to Market Perform at Raymond James

Becton, Dickinson and Company (NYSE:BDX - Get Free Report) was downgraded by equities research analysts at Raymond James from an "outperform" rating to a "market perform" rating in a report issued on Friday,Briefing.com Automated Import reports.

Other equities analysts have also issued reports about the stock. Barclays dropped their price objective on shares of Becton, Dickinson and Company from $279.00 to $261.00 and set an "overweight" rating on the stock in a research report on Monday, April 7th. Piper Sandler cut their price objective on shares of Becton, Dickinson and Company from $280.00 to $260.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Wells Fargo & Company downgraded Becton, Dickinson and Company from an "overweight" rating to an "equal weight" rating in a research report on Thursday. William Blair cut Becton, Dickinson and Company from an "outperform" rating to a "market perform" rating in a report on Thursday. Finally, Bank of America lowered Becton, Dickinson and Company from a "buy" rating to a "neutral" rating and set a $190.00 price objective on the stock. in a report on Thursday. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $242.88.

Becton, Dickinson and Company Trading Down 18.1 %

Shares of NYSE:BDX opened at $169.56 on Friday. Becton, Dickinson and Company has a 52-week low of $169.52 and a 52-week high of $251.99. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.63 and a current ratio of 1.13. The company has a market capitalization of $48.69 billion, a P/E ratio of 28.17, a price-to-earnings-growth ratio of 1.63 and a beta of 0.35. The company has a 50-day simple moving average of $215.99 and a 200 day simple moving average of $226.21.

Becton, Dickinson and Company (NYSE:BDX - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The medical instruments supplier reported $3.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.28 by $0.07. The company had revenue of $5.27 billion during the quarter, compared to analysts' expectations of $5.35 billion. Becton, Dickinson and Company had a return on equity of 15.74% and a net margin of 8.47%. The business's revenue was up 4.5% on a year-over-year basis. During the same period last year, the firm posted $3.17 earnings per share. Sell-side analysts forecast that Becton, Dickinson and Company will post 14.43 earnings per share for the current year.

Becton, Dickinson and Company announced that its board has authorized a stock repurchase program on Tuesday, January 28th that allows the company to buyback 10,000,000 shares. This buyback authorization allows the medical instruments supplier to repurchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling at Becton, Dickinson and Company

In related news, Director Jeffrey William Henderson bought 1,500 shares of the business's stock in a transaction on Monday, February 10th. The shares were purchased at an average price of $233.62 per share, for a total transaction of $350,430.00. Following the completion of the transaction, the director now directly owns 8,015 shares of the company's stock, valued at approximately $1,872,464.30. This represents a 23.02 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Richard Byrd sold 1,940 shares of the firm's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $224.91, for a total value of $436,325.40. Following the sale, the executive vice president now directly owns 7,411 shares in the company, valued at approximately $1,666,808.01. This trade represents a 20.75 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,578 shares of company stock valued at $795,986. 0.36% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Becton, Dickinson and Company

A number of institutional investors have recently added to or reduced their stakes in BDX. Brighton Jones LLC lifted its holdings in shares of Becton, Dickinson and Company by 98.2% during the fourth quarter. Brighton Jones LLC now owns 1,770 shares of the medical instruments supplier's stock worth $401,000 after purchasing an additional 877 shares during the period. E. Ohman J or Asset Management AB lifted its holdings in Becton, Dickinson and Company by 13.4% during the 4th quarter. E. Ohman J or Asset Management AB now owns 176,097 shares of the medical instruments supplier's stock worth $39,951,000 after buying an additional 20,859 shares during the period. Busey Bank increased its stake in shares of Becton, Dickinson and Company by 3.8% in the fourth quarter. Busey Bank now owns 66,255 shares of the medical instruments supplier's stock valued at $15,031,000 after buying an additional 2,399 shares during the period. Centre Asset Management LLC bought a new position in shares of Becton, Dickinson and Company during the fourth quarter worth about $8,382,000. Finally, Nordea Investment Management AB raised its position in shares of Becton, Dickinson and Company by 31.0% during the fourth quarter. Nordea Investment Management AB now owns 2,844,566 shares of the medical instruments supplier's stock worth $647,082,000 after acquiring an additional 673,568 shares during the last quarter. 86.97% of the stock is owned by institutional investors.

About Becton, Dickinson and Company

Becton, Dickinson and Company develops, manufactures, and sells medical supplies, devices, laboratory equipment, and diagnostic products for healthcare institutions, physicians, life science researchers, clinical laboratories, pharmaceutical industry, and the general public worldwide. The company operates in three segments: BD Medical, BD Life Sciences, and BD Interventional.

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