Becton, Dickinson and Company (BDX) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Becton, Dickinson and Company (NYSE:BDX) from a hold rating to a sell rating in a research report sent to investors on Monday.

According to Zacks, “Over the past year, Becton, Dickinson and Company, popularly known as BD, has outperformed the broader industry trends with respect to price performance. The company is steadily progressing with its planned acquisition of medical technology player, C. R. Bard. The $24-billion transaction is slated to be completed in the fourth quarter of fiscal 2017. Post completion, BD expects growth in adjusted earnings starting fiscal 2019. We view the acquisition as a strategic fit which will generate benefits from complementary businesses and geographical expansion. BD's cost-control initiatives are also noteworthy. On the flipside, unfavorable sales performance from the BD Medical segment is a concern in the near term. Performance in the segment was affected by sluggishness in the Medication Management Solutions and Pharmaceutical Systems units in the U.S.”

Other equities analysts have also recently issued research reports about the company. Stifel Nicolaus reaffirmed a buy rating on shares of Becton, Dickinson and in a report on Wednesday, August 9th. BidaskClub cut Becton, Dickinson and from a strong-buy rating to a buy rating in a report on Monday, July 31st. Bank of America Corporation reaffirmed a buy rating and issued a $225.00 price target (up previously from $200.00) on shares of Becton, Dickinson and in a report on Friday, July 21st. Piper Jaffray Companies reaffirmed a buy rating and issued a $213.00 price target on shares of Becton, Dickinson and in a report on Tuesday, September 12th. Finally, Cowen and Company reaffirmed a buy rating and issued a $230.00 price target on shares of Becton, Dickinson and in a report on Monday, August 14th. One analyst has rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $200.93.

Becton, Dickinson and (BDX) opened at 198.83 on Monday. The stock has a market cap of $45.25 billion, a PE ratio of 57.58 and a beta of 1.05. Becton, Dickinson and has a 12-month low of $161.29 and a 12-month high of $206.63. The firm’s 50-day moving average price is $197.07 and its 200 day moving average price is $192.88.

Becton, Dickinson and (NYSE:BDX) last released its quarterly earnings results on Thursday, August 3rd. The medical instruments supplier reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.44 by $0.02. The company had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.06 billion. Becton, Dickinson and had a return on equity of 22.53% and a net margin of 6.25%. Becton, Dickinson and’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.35 EPS. Analysts anticipate that Becton, Dickinson and will post $9.46 EPS for the current year.

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The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 8th were issued a $0.73 dividend. The ex-dividend date was Thursday, September 7th. This represents a $2.92 annualized dividend and a dividend yield of 1.47%. Becton, Dickinson and’s dividend payout ratio is presently 83.43%.

In related news, insider Thomas E. Polen, Jr. sold 5,971 shares of the stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $197.41, for a total value of $1,178,735.11. Following the completion of the sale, the insider now owns 12,861 shares of the company’s stock, valued at $2,538,890.01. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Ellen R. Strahlman sold 9,283 shares of the stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $198.21, for a total value of $1,839,983.43. Following the completion of the sale, the insider now directly owns 26,638 shares of the company’s stock, valued at approximately $5,279,917.98. The disclosure for this sale can be found here. In the last ninety days, insiders sold 75,904 shares of company stock valued at $15,242,688. Insiders own 1.40% of the company’s stock.

Several large investors have recently bought and sold shares of the stock. Guardian Life Insurance Co. of America increased its holdings in shares of Becton, Dickinson and by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 819 shares of the medical instruments supplier’s stock valued at $150,000 after purchasing an additional 6 shares during the last quarter. Family Firm Inc. increased its holdings in shares of Becton, Dickinson and by 0.5% in the second quarter. Family Firm Inc. now owns 1,212 shares of the medical instruments supplier’s stock valued at $236,000 after purchasing an additional 6 shares during the last quarter. Northwest Quadrant Wealth Management LLC increased its holdings in shares of Becton, Dickinson and by 0.4% in the second quarter. Northwest Quadrant Wealth Management LLC now owns 1,686 shares of the medical instruments supplier’s stock valued at $332,000 after purchasing an additional 6 shares during the last quarter. Wellington Shields & Co. LLC increased its holdings in shares of Becton, Dickinson and by 0.3% in the second quarter. Wellington Shields & Co. LLC now owns 2,541 shares of the medical instruments supplier’s stock valued at $496,000 after purchasing an additional 7 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its holdings in shares of Becton, Dickinson and by 1.4% in the first quarter. Parkside Financial Bank & Trust now owns 633 shares of the medical instruments supplier’s stock valued at $116,000 after purchasing an additional 9 shares during the last quarter. 87.12% of the stock is owned by hedge funds and other institutional investors.

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 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.

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