Zacks Investment Research Upgrades Becton Dickinson and (BDX) to Buy

Becton Dickinson and (NYSE:BDX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The brokerage currently has a $240.00 price objective on the medical instruments supplier’s stock. Zacks Investment Research‘s target price points to a potential upside of 10.17% from the company’s current price.

According to Zacks, “In the last six months,  Becton, Dickinson and Company, popularly known as BD, has outperformed the broader industry. BD recently completed the acquisition of C. R. Bard. The company will establish a new segment — BD Interventional in which Bard will be integrated. We view the acquisition as a strategic one which will generate benefits from complementary businesses and geographical expansion. Further, BD announced that it will divest its soft tissue core needle biopsy products for $100 million to Merit Medical. On the flipside, lackluster performance by the Medical segment is a concern. Performance in the segment was affected by sluggishness in the Medication Management Solutions and Pharmaceutical Systems units in the United States. BD temporarily paused shipments of its insulin infusion sets. The voluntary recall of Barricor blood collection tubes in the recent past also adds to our woes.”

Several other brokerages also recently commented on BDX. Wells Fargo & Co reiterated a “positive” rating and set a $235.00 price target (up from $225.00) on shares of Becton Dickinson and in a report on Tuesday, October 24th. They noted that the move was a valuation call. Argus upped their price target on shares of Becton Dickinson and to $235.00 and gave the company a “buy” rating in a report on Thursday, December 14th. They noted that the move was a valuation call. Piper Jaffray Companies reiterated a “buy” rating and set a $213.00 price target on shares of Becton Dickinson and in a report on Tuesday, September 12th. Morgan Stanley upped their price target on shares of Becton Dickinson and from $205.00 to $245.00 and gave the company an “equal weight” rating in a report on Friday, November 3rd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $230.00 price target (up from $210.00) on shares of Becton Dickinson and in a report on Friday, November 3rd. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $224.53.

Shares of Becton Dickinson and (BDX) opened at $217.84 on Wednesday. Becton Dickinson and has a fifty-two week low of $161.50 and a fifty-two week high of $229.68. The company has a quick ratio of 5.03, a current ratio of 5.58 and a debt-to-equity ratio of 1.44. The firm has a market cap of $49,970.00, a PE ratio of 46.85, a PEG ratio of 1.66 and a beta of 1.07.

Becton Dickinson and (NYSE:BDX) last posted its earnings results on Thursday, November 2nd. The medical instruments supplier reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.37 by $0.03. The firm had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.14 billion. Becton Dickinson and had a net margin of 8.52% and a return on equity of 20.56%. The business’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.12 EPS. research analysts anticipate that Becton Dickinson and will post 10.7 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in BDX. Atlantic Trust Group LLC lifted its position in shares of Becton Dickinson and by 597.3% in the 3rd quarter. Atlantic Trust Group LLC now owns 451,035 shares of the medical instruments supplier’s stock worth $88,381,000 after purchasing an additional 386,349 shares during the period. Parametric Portfolio Associates LLC lifted its position in shares of Becton Dickinson and by 3.3% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 1,343,797 shares of the medical instruments supplier’s stock worth $263,317,000 after purchasing an additional 43,396 shares during the period. AXA lifted its position in shares of Becton Dickinson and by 8.4% in the 3rd quarter. AXA now owns 518,636 shares of the medical instruments supplier’s stock worth $101,627,000 after purchasing an additional 40,370 shares during the period. Burgundy Asset Management Ltd. lifted its position in shares of Becton Dickinson and by 1.3% in the 3rd quarter. Burgundy Asset Management Ltd. now owns 796,035 shares of the medical instruments supplier’s stock worth $155,983,000 after purchasing an additional 10,260 shares during the period. Finally, Steward Partners Investment Advisory LLC purchased a new stake in shares of Becton Dickinson and in the 3rd quarter worth approximately $1,365,000. 87.72% of the stock is owned by institutional investors.

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About Becton Dickinson and

Becton, Dickinson and Company (BD) is a global medical technology company engaged in the development, manufacture and sale of a range of medical supplies, devices, laboratory equipment and diagnostic products. The Company operates through two segments: BD Medical and BD Life Sciences. The BD Medical segment produces an array of medical technologies and devices that are used to help improve healthcare delivery in a range of settings.

Analyst Recommendations for Becton Dickinson and (NYSE:BDX)

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