Citigroup Inc. cut shares of Becton Dickinson and Co. (NYSE:BDX) from a neutral rating to a sell rating in a report released on Friday morning. The brokerage currently has $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.
Several other research analysts have also recently weighed in on the company. Cowen and Company reaffirmed an outperform rating and set a $185.00 target price on shares of Becton Dickinson and in a research note on Tuesday, August 16th. Leerink Swann reaffirmed a hold rating on shares of Becton Dickinson and in a research note on Tuesday, August 9th. Jefferies Group reaffirmed a buy rating on shares of Becton Dickinson and in a research note on Friday, August 5th. Zacks Investment Research cut Becton Dickinson and from a buy rating to a hold rating in a research note on Wednesday, July 13th. Finally, Bank of America Corp. reaffirmed a buy rating on shares of Becton Dickinson and in a research note on Tuesday, July 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $170.82.
Becton Dickinson and (NYSE:BDX) opened at 178.97 on Friday. Becton Dickinson and has a 1-year low of $129.50 and a 1-year high of $181.76. The firm has a market cap of $38.11 billion, a P/E ratio of 34.15 and a beta of 0.97. The stock’s 50 day moving average is $175.60 and its 200-day moving average is $167.55.
Becton Dickinson and (NYSE:BDX) last announced its earnings results on Thursday, August 4th. The company reported $2.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.21 by $0.14. Becton Dickinson and had a return on equity of 24.26% and a net margin of 9.24%. The business earned $3.20 billion during the quarter, compared to analysts’ expectations of $3.21 billion. During the same quarter last year, the business posted $2.05 earnings per share. The company’s quarterly revenue was up 2.5% on a year-over-year basis. Analysts forecast that Becton Dickinson and will post $8.57 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 9th will be paid a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date is Wednesday, September 7th. Becton Dickinson and’s dividend payout ratio (DPR) is presently 50.19%.
In other news, insider Linda M. Tharby sold 11,704 shares of the firm’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $177.27, for a total transaction of $2,074,768.08. Following the completion of the sale, the insider now directly owns 22,146 shares of the company’s stock, valued at approximately $3,925,821.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gary M. Cohen sold 29,367 shares of the firm’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $176.81, for a total value of $5,192,379.27. Following the sale, the insider now directly owns 125,870 shares of the company’s stock, valued at $22,255,074.70. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.
Large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Becton Dickinson and by 2.0% in the second quarter. Vanguard Group Inc. now owns 14,472,294 shares of the company’s stock worth $2,454,357,000 after buying an additional 277,081 shares during the period. Jarislowsky Fraser Ltd increased its position in shares of Becton Dickinson and by 1,050.3% in the second quarter. Jarislowsky Fraser Ltd now owns 10,373,430 shares of the company’s stock worth $531,241,000 after buying an additional 9,471,594 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of Becton Dickinson and by 3.4% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 5,848,941 shares of the company’s stock worth $991,922,000 after buying an additional 189,911 shares during the last quarter. BlackRock Fund Advisors increased its position in shares of Becton Dickinson and by 11.1% in the second quarter. BlackRock Fund Advisors now owns 4,345,829 shares of the company’s stock worth $737,009,000 after buying an additional 433,904 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Becton Dickinson and by 0.6% in the first quarter. Franklin Resources Inc. now owns 3,837,384 shares of the company’s stock worth $582,591,000 after buying an additional 22,692 shares during the last quarter. 81.96% of the stock is owned by institutional investors.
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 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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