According to Zacks, “Becton, Dickinson exited the fiscal second quarter on a mixed note. While earnings beat the consensus mark, revenues missed the same. Strong performance by the core BD Medical and Interventional segments buoys optimism. Domestic revenues increased year over year in the quarter under review on segmental strength. Notably, a series of product launches and regulatory approvals have boosted the stock. Growth in China and EMEA is a positive. Expansion in gross margin is also heartening. The stock has outperformed the industry in a year. On the flip side, sluggishness in the core Life Sciences unit raises concern. International sales also dropped in the quarter. Management expects near-term headwinds in the DCB business. A weak EPS view for 2019 adds to the woes. Management expects unfavorable foreign currency to partially mar BD’s prospects in fiscal 2019. Stiff competition in the MedTech space adds to the woes.”
Several other brokerages also recently commented on BDX. Morgan Stanley cut their price objective on Becton Dickinson and from $255.00 to $250.00 and set an equal weight rating on the stock in a research report on Friday, May 10th. Barclays upped their price objective on Becton Dickinson and from $260.00 to $266.00 and gave the company an equal weight rating in a research report on Monday, April 15th. Raymond James cut their price objective on Becton Dickinson and from $290.00 to $280.00 and set a strong-buy rating on the stock in a research report on Tuesday, March 19th. KeyCorp reaffirmed an overweight rating and issued a $262.00 price objective (down previously from $273.00) on shares of Becton Dickinson and in a research report on Friday, May 10th. Finally, ValuEngine downgraded Becton Dickinson and from a buy rating to a hold rating in a research report on Monday, April 1st. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Becton Dickinson and presently has a consensus rating of Buy and an average target price of $255.31.
Becton Dickinson and (NYSE:BDX) last released its earnings results on Thursday, May 9th. The medical instruments supplier reported $2.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.57 by $0.02. The firm had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $4.25 billion. Becton Dickinson and had a return on equity of 14.58% and a net margin of 5.88%. The company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.65 EPS. On average, equities analysts expect that Becton Dickinson and will post 11.7 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date is Thursday, June 6th. Becton Dickinson and’s payout ratio is 27.97%.
In other news, EVP Betty D. Larson sold 1,700 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $224.97, for a total transaction of $382,449.00. Following the transaction, the executive vice president now owns 11,493 shares of the company’s stock, valued at approximately $2,585,580.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Vincent A. Forlenza sold 11,340 shares of the stock in a transaction on Monday, February 25th. The stock was sold at an average price of $250.40, for a total value of $2,839,536.00. Following the transaction, the chief executive officer now directly owns 227,250 shares in the company, valued at approximately $56,903,400. The disclosure for this sale can be found here. Insiders have sold a total of 31,384 shares of company stock worth $7,901,023 in the last three months. Corporate insiders own 0.12% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of BDX. Harvest Group Wealth Management LLC purchased a new stake in shares of Becton Dickinson and during the 1st quarter worth $25,000. Oregon Public Employees Retirement Fund lifted its stake in shares of Becton Dickinson and by 22,485.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 6,574,612 shares of the medical instruments supplier’s stock worth $29,000 after purchasing an additional 6,545,502 shares during the last quarter. Pinnacle Financial Partners Inc. purchased a new stake in shares of Becton Dickinson and during the 1st quarter worth $29,000. RPG Investment Advisory LLC purchased a new stake in shares of Becton Dickinson and during the 1st quarter worth $32,000. Finally, Nalls Sherbakoff Group LLC purchased a new stake in shares of Becton Dickinson and during the 4th quarter worth $34,000. 85.24% of the stock is currently owned by institutional investors and hedge funds.
Becton Dickinson and Company Profile
Becton, Dickinson and Company develops, manufactures, and sells medical supplies, devices, laboratory equipment, and diagnostic products worldwide. The company's BD Medical segment offers peripheral IV and advanced peripheral catheters, central lines, acute dialysis catheters, vascular care and preparation products, needle-free IV connectors and extensions sets, IV fluids, closed-system drug transfer devices, hazardous drug detection, hypodermic syringes and needles, anesthesia needles and trays, enteral syringes, sharps disposal systems; infusion pumps and dedicated disposables, medication compounding workflow systems, automated medication dispensing, automated supply management systems, medication inventory optimization and tracking systems; syringes, pen needles, and other products for diabetes care; and prefillable drug delivery systems.
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