Citigroup Inc. downgraded shares of Becton Dickinson and Co. (NYSE:BDX) from a neutral rating to a sell rating in a research report released on Friday morning. They currently have $165.00 price target on the stock, down from their previous price target of $167.00.
“We see a diminishing impact on growth from emerging markets, which once contributed over 50 percent of total growth for the company but will likely only contribute about one third of total growth going forward, and as an aside we’re slightly cautious on the timing of O-US synergy benefits from CFN. The extra burden will shift to developed markets,,” Citigroup Inc.’s analyst commented.
Other equities analysts have also recently issued research reports about the stock. Argus reissued a buy rating on shares of Becton Dickinson and in a research report on Sunday, June 12th. Leerink Swann reaffirmed a hold rating on shares of Becton Dickinson and in a research report on Tuesday, August 9th. Bank of America Corp. reaffirmed a buy rating on shares of Becton Dickinson and in a research report on Tuesday, July 12th. Cowen and Company reaffirmed an outperform rating and issued a $185.00 price target on shares of Becton Dickinson and in a research report on Tuesday, August 16th. Finally, Jefferies Group reaffirmed a buy rating on shares of Becton Dickinson and in a research report on Friday, August 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $170.82.
Shares of Becton Dickinson and (NYSE:BDX) traded down 1.21% during midday trading on Friday, hitting $177.33. The stock had a trading volume of 91,942 shares. The stock’s 50-day moving average price is $175.35 and its 200 day moving average price is $166.84. The company has a market cap of $37.76 billion, a price-to-earnings ratio of 33.84 and a beta of 0.97. Becton Dickinson and has a 52 week low of $128.87 and a 52 week high of $181.76.
Becton Dickinson and (NYSE:BDX) last released its quarterly earnings data on Thursday, August 4th. The company reported $2.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.21 by $0.14. The company had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.21 billion. Becton Dickinson and had a net margin of 9.24% and a return on equity of 24.26%. The business’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.05 EPS. On average, equities analysts forecast that Becton Dickinson and will post $8.57 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 9th will be paid a $0.66 dividend. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $2.64 dividend on an annualized basis and a yield of 1.47%. Becton Dickinson and’s dividend payout ratio is 50.19%.
In related news, insider Gary M. Cohen sold 29,367 shares of Becton Dickinson and stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $176.81, for a total value of $5,192,379.27. Following the completion of the transaction, the insider now directly owns 125,870 shares in the company, valued at approximately $22,255,074.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Linda M. Tharby sold 11,704 shares of Becton Dickinson and stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $177.27, for a total transaction of $2,074,768.08. Following the completion of the transaction, the insider now owns 22,146 shares of the company’s stock, valued at $3,925,821.42. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BDX. Point72 Asia Hong Kong Ltd acquired a new position in Becton Dickinson and during the second quarter worth $119,000. Acrospire Investment Management LLC raised its position in Becton Dickinson and by 458.0% in the second quarter. Acrospire Investment Management LLC now owns 731 shares of the company’s stock worth $124,000 after buying an additional 600 shares in the last quarter. Iowa State Bank acquired a new position in Becton Dickinson and during the second quarter worth $137,000. First Personal Financial Services raised its position in Becton Dickinson and by 101.7% in the second quarter. First Personal Financial Services now owns 827 shares of the company’s stock worth $140,000 after buying an additional 417 shares in the last quarter. Finally, Global X Management Co. LLC raised its position in Becton Dickinson and by 228.5% in the second quarter. Global X Management Co. LLC now owns 946 shares of the company’s stock worth $160,000 after buying an additional 658 shares in the last quarter. Institutional investors and hedge funds own 81.96% of the company’s stock.
Becton Dickinson and Company Profile
Becton, Dickinson and Company (BD) is a global medical technology company engaged in the development, manufacture and sale of a range of medical devices, instrument systems and reagents used by healthcare institutions, life science researchers, clinical laboratories, the pharmaceutical industry and the general public.
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