Becton, Dickinson and Company (NYSE:BDX) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Key Points

• Wells Fargo & Company has raised its target price for Becton, Dickinson and Company (NYSE: BDX) from $172.00 to $184.00, indicating a potential downside of 4.15% from the stock's last close.
• Several other analysts have adjusted their price targets for BDX, with Stifel Nicolaus reducing theirs from $280.00 to $224.00 while maintaining a "buy" rating.
• Becton, Dickinson and Company reported $3.68 EPS for the quarter, exceeding estimates, along with a revenue growth of 10.4% year-over-year, reaching $5.51 billion.

Becton, Dickinson and Company (NYSE:BDX - Get Free Report) had its target price increased by equities researchers at Wells Fargo & Company from $172.00 to $184.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an "equal weight" rating on the medical instruments supplier's stock. Wells Fargo & Company's target price suggests a potential downside of 4.43% from the stock's previous close.

A number of other equities research analysts have also recently weighed in on the company. Morgan Stanley dropped their price target on Becton, Dickinson and Company from $280.00 to $196.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Citigroup cut Becton, Dickinson and Company from a "strong-buy" rating to a "hold" rating and dropped their price target for the company from $217.00 to $185.00 in a report on Thursday, May 22nd. William Blair cut Becton, Dickinson and Company from an "outperform" rating to a "market perform" rating in a report on Thursday, May 1st. Piper Sandler reissued a "neutral" rating and issued a $200.00 target price (up from $185.00) on shares of Becton, Dickinson and Company in a research note on Friday. Finally, Stifel Nicolaus lowered their target price on Becton, Dickinson and Company from $280.00 to $224.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $211.44.

Becton, Dickinson and Company Price Performance

Shares of Becton, Dickinson and Company stock traded down $0.97 during midday trading on Friday, hitting $192.53. 2,770,580 shares of the company were exchanged, compared to its average volume of 3,342,677. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.10 and a quick ratio of 0.62. The firm has a market cap of $55.19 billion, a P/E ratio of 34.63, a PEG ratio of 1.46 and a beta of 0.20. Becton, Dickinson and Company has a 52 week low of $163.33 and a 52 week high of $251.99. The firm has a 50 day simple moving average of $176.28 and a 200-day simple moving average of $198.06.

Becton, Dickinson and Company (NYSE:BDX - Get Free Report) last posted its earnings results on Thursday, August 7th. The medical instruments supplier reported $3.68 EPS for the quarter, topping the consensus estimate of $3.40 by $0.28. Becton, Dickinson and Company had a return on equity of 16.23% and a net margin of 7.51%. The business had revenue of $5.51 billion during the quarter, compared to the consensus estimate of $5.50 billion. During the same quarter last year, the company earned $3.50 EPS. Becton, Dickinson and Company's revenue was up 10.4% on a year-over-year basis. Research analysts forecast that Becton, Dickinson and Company will post 14.43 earnings per share for the current year.

Insider Buying and Selling

In other Becton, Dickinson and Company news, EVP Michael David Garrison sold 1,185 shares of Becton, Dickinson and Company stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $180.29, for a total transaction of $213,643.65. Following the transaction, the executive vice president directly owned 4,887 shares in the company, valued at approximately $881,077.23. The trade was a 19.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Claire Fraser sold 863 shares of Becton, Dickinson and Company stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $192.30, for a total value of $165,954.90. Following the transaction, the director owned 23,143 shares in the company, valued at approximately $4,450,398.90. This represents a 3.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,214 shares of company stock valued at $579,206 over the last three months. Company insiders own 0.36% of the company's stock.

Institutional Trading of Becton, Dickinson and Company

A number of institutional investors have recently modified their holdings of the company. Empirical Finance LLC lifted its holdings in shares of Becton, Dickinson and Company by 0.7% in the second quarter. Empirical Finance LLC now owns 10,099 shares of the medical instruments supplier's stock valued at $1,740,000 after purchasing an additional 66 shares in the last quarter. TD Waterhouse Canada Inc. lifted its holdings in shares of Becton, Dickinson and Company by 8.7% in the second quarter. TD Waterhouse Canada Inc. now owns 18,385 shares of the medical instruments supplier's stock valued at $3,263,000 after purchasing an additional 1,465 shares in the last quarter. Portside Wealth Group LLC lifted its holdings in shares of Becton, Dickinson and Company by 46.1% in the second quarter. Portside Wealth Group LLC now owns 7,812 shares of the medical instruments supplier's stock valued at $1,346,000 after purchasing an additional 2,465 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Becton, Dickinson and Company by 15.4% in the second quarter. Vanguard Group Inc. now owns 32,308,749 shares of the medical instruments supplier's stock valued at $5,565,182,000 after purchasing an additional 4,305,947 shares in the last quarter. Finally, Pinnacle Wealth Planning Services Inc. lifted its holdings in shares of Becton, Dickinson and Company by 42.3% in the second quarter. Pinnacle Wealth Planning Services Inc. now owns 1,581 shares of the medical instruments supplier's stock valued at $272,000 after purchasing an additional 470 shares in the last quarter. 86.97% of the stock is currently 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.