Becton, Dickinson and Company (NYSE:BDX - Get Free Report) was downgraded by analysts at Citigroup from a "strong-buy" rating to a "hold" rating in a report issued on Thursday, MarketBeat Ratings reports. They currently have a $185.00 target price on the medical instruments supplier's stock, down from their previous target price of $217.00. Citigroup's price objective points to a potential upside of 6.08% from the stock's previous close.
A number of other brokerages also recently commented on BDX. Stifel Nicolaus decreased their price objective on shares of Becton, Dickinson and Company from $280.00 to $224.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Wells Fargo & Company downgraded shares of Becton, Dickinson and Company from an "overweight" rating to an "equal weight" rating in a research report on Thursday, May 1st. Barclays decreased their price objective on shares of Becton, Dickinson and Company from $279.00 to $261.00 and set an "overweight" rating for the company in a research report on Monday, April 7th. The Goldman Sachs Group downgraded shares of Becton, Dickinson and Company from a "buy" rating to a "neutral" rating and set a $192.00 price objective for the company. in a research report on Friday, May 2nd. Finally, Raymond James downgraded shares of Becton, Dickinson and Company from an "outperform" rating to a "market perform" rating in a research report on Friday, May 2nd. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, Becton, Dickinson and Company presently has an average rating of "Hold" and a consensus target price of $221.44.
Read Our Latest Stock Report on Becton, Dickinson and Company
Becton, Dickinson and Company Stock Up 1.8%
BDX stock traded up $3.02 during midday trading on Thursday, hitting $174.40. The company's stock had a trading volume of 684,690 shares, compared to its average volume of 1,927,211. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.13 and a quick ratio of 0.63. Becton, Dickinson and Company has a twelve month low of $163.33 and a twelve month high of $251.99. The company's fifty day moving average price is $197.15 and its 200 day moving average price is $218.17. The stock has a market capitalization of $49.99 billion, a P/E ratio of 28.93, a PEG ratio of 1.63 and a beta of 0.31.
Becton, Dickinson and Company (NYSE:BDX - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The medical instruments supplier reported $3.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.28 by $0.07. Becton, Dickinson and Company had a net margin of 8.47% and a return on equity of 15.74%. The firm had revenue of $5.27 billion for the quarter, compared to analyst estimates of $5.35 billion. During the same period in the previous year, the business earned $3.17 EPS. The company's revenue was up 4.5% compared to the same quarter last year. As a group, equities research analysts predict that Becton, Dickinson and Company will post 14.43 EPS for the current year.
Becton, Dickinson and Company announced that its board has initiated a share buyback plan on Tuesday, January 28th that allows the company to repurchase 10,000,000 shares. This repurchase authorization allows the medical instruments supplier to buy shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.
Insider Buying and Selling at Becton, Dickinson and Company
In related news, EVP Michael David Garrison sold 479 shares of the company's stock in a transaction that occurred on Wednesday, April 9th. The shares were 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 in the company, valued at $964,107.36. This represents a 8.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Richard Byrd sold 1,940 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $224.91, for a total transaction of $436,325.40. Following the transaction, the executive vice president now owns 7,411 shares of the company's stock, valued at approximately $1,666,808.01. This represents a 20.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,878 shares of company stock valued at $636,393 in the last quarter. Company insiders own 0.36% of the company's stock.
Hedge Funds Weigh In On Becton, Dickinson and Company
A number of institutional investors have recently added to or reduced their stakes in the stock. WBI Investments LLC acquired a new position in Becton, Dickinson and Company during the 1st quarter worth approximately $872,000. IFM Investors Pty Ltd increased its position in Becton, Dickinson and Company by 1.0% in the 1st quarter. IFM Investors Pty Ltd now owns 53,623 shares of the medical instruments supplier's stock valued at $12,283,000 after acquiring an additional 537 shares during the period. Integrity Alliance LLC. acquired a new position in Becton, Dickinson and Company in the 1st quarter valued at approximately $269,000. Ransom Advisory Ltd acquired a new position in Becton, Dickinson and Company in the 1st quarter valued at approximately $98,000. Finally, Glenview Trust co increased its position in Becton, Dickinson and Company by 18.9% in the 1st quarter. Glenview Trust co now owns 84,277 shares of the medical instruments supplier's stock valued at $19,304,000 after acquiring an additional 13,404 shares during the period. 86.97% of the stock is currently owned by institutional investors and hedge funds.
Becton, Dickinson and Company Company Profile
(
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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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