Becton, Dickinson and Company (NYSE:BDX) Rating Lowered to "Hold" at Citigroup

Becton, Dickinson and Company (NYSE:BDX - Get Free Report) was downgraded by equities researchers at Citigroup from a "strong-buy" rating to a "hold" rating in a note issued to investors on Thursday, MarketBeat reports. They currently have a $185.00 price target on the medical instruments supplier's stock, down from their previous price target of $217.00. Citigroup's price objective suggests a potential upside of 7.44% from the stock's previous close.

BDX has been the subject of a number of other reports. Barclays reduced their price target on shares of Becton, Dickinson and Company from $279.00 to $261.00 and set an "overweight" rating for the company in a research note on Monday, April 7th. William Blair downgraded Becton, Dickinson and Company from an "outperform" rating to a "market perform" rating in a research report on Thursday, May 1st. Stifel Nicolaus lowered their price target on Becton, Dickinson and Company from $280.00 to $224.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Wells Fargo & Company downgraded Becton, Dickinson and Company from an "overweight" rating to an "equal weight" rating in a research note on Thursday, May 1st. Finally, Wall Street Zen cut Becton, Dickinson and Company from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $221.44.

Becton, Dickinson and Company Price Performance

Shares of NYSE:BDX opened at $172.19 on Thursday. The firm's 50 day moving average is $199.57 and its two-hundred day moving average is $219.25. The firm has a market capitalization of $49.35 billion, a P/E ratio of 28.60, a PEG ratio of 1.63 and a beta of 0.31. The company has a current ratio of 1.13, a quick ratio of 0.63 and a debt-to-equity ratio of 0.69. Becton, Dickinson and Company has a 52 week low of $163.33 and a 52 week high of $251.99.

Becton, Dickinson and Company (NYSE:BDX - Get Free Report) last announced its earnings results on Thursday, May 1st. The medical instruments supplier reported $3.35 earnings per share for the quarter, beating the consensus estimate of $3.28 by $0.07. The firm had revenue of $5.27 billion for the quarter, compared to the consensus estimate of $5.35 billion. Becton, Dickinson and Company had a return on equity of 15.74% and a net margin of 8.47%. The firm's revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.17 EPS. Analysts anticipate that Becton, Dickinson and Company will post 14.43 earnings per share for the current year.

Becton, Dickinson and Company announced that its Board of Directors has initiated a share repurchase program on Tuesday, January 28th that authorizes the company to buyback 10,000,000 outstanding shares. This buyback authorization authorizes the medical instruments supplier to repurchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Insider Activity

In other news, EVP Richard Byrd sold 1,940 shares of Becton, Dickinson and Company stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 7,411 shares of the company's stock, valued at $1,666,808.01. This trade represents a 20.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Michael David Garrison sold 479 shares of the firm's stock in a transaction that occurred on Wednesday, April 9th. The stock was sold at an average price of $197.28, for a total transaction of $94,497.12. Following the completion of the transaction, the executive vice president now directly owns 4,887 shares of the company's stock, valued at $964,107.36. This represents a 8.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,878 shares of company stock valued at $636,393 over the last three months. Insiders own 0.36% of the company's stock.

Hedge Funds Weigh In On Becton, Dickinson and Company

A number of large investors have recently made changes to their positions in BDX. Bank of Jackson Hole Trust acquired a new position in Becton, Dickinson and Company in the 4th quarter valued at approximately $25,000. Saudi Central Bank purchased a new position in shares of Becton, Dickinson and Company during the 1st quarter valued at $26,000. Smallwood Wealth Investment Management LLC purchased a new stake in shares of Becton, Dickinson and Company during the first quarter worth $27,000. Alpine Bank Wealth Management purchased a new stake in shares of Becton, Dickinson and Company during the first quarter worth $29,000. Finally, REAP Financial Group LLC grew its stake in Becton, Dickinson and Company by 75.3% in the fourth quarter. REAP Financial Group LLC now owns 128 shares of the medical instruments supplier's stock valued at $29,000 after purchasing an additional 55 shares in the last quarter. Institutional investors and hedge funds own 86.97% of the company's stock.

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.