KeyCorp Lowers Becton Dickinson and (NYSE:BDX) Price Target to $256.00

Becton Dickinson and (NYSE:BDX) had its target price cut by KeyCorp from $262.00 to $256.00 in a research note issued to investors on Wednesday, The Fly reports. They currently have an overweight rating on the medical instruments supplier’s stock. KeyCorp also issued estimates for Becton Dickinson and’s Q1 2020 earnings at $2.60 EPS, Q2 2020 earnings at $3.01 EPS, Q3 2020 earnings at $3.25 EPS, Q4 2020 earnings at $3.66 EPS, FY2020 earnings at $12.57 EPS and FY2021 earnings at $14.19 EPS.

A number of other research firms also recently commented on BDX. Wells Fargo & Co dropped their price objective on shares of Becton Dickinson and from $290.00 to $285.00 and set an outperform rating for the company in a research note on Wednesday, November 6th. Piper Jaffray Companies dropped their price objective on shares of Becton Dickinson and from $267.00 to $266.00 and set an overweight rating for the company in a research note on Tuesday, August 6th. Morgan Stanley upped their price objective on shares of Becton Dickinson and from $250.00 to $261.00 and gave the company an equal weight rating in a research note on Tuesday, July 16th. Finally, ValuEngine downgraded shares of Becton Dickinson and from a buy rating to a hold rating in a research note on Thursday, August 1st. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $265.55.

BDX stock traded down $0.50 during trading on Wednesday, hitting $248.30. The stock had a trading volume of 977,298 shares, compared to its average volume of 1,363,228. The company’s 50 day moving average price is $251.03 and its two-hundred day moving average price is $247.32. Becton Dickinson and has a 1-year low of $208.62 and a 1-year high of $264.74. The stock has a market cap of $67.16 billion, a price-to-earnings ratio of 21.26, a price-to-earnings-growth ratio of 1.75 and a beta of 1.09. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.73 and a current ratio of 1.19.

Becton Dickinson and (NYSE:BDX) last announced its earnings results on Tuesday, November 5th. The medical instruments supplier reported $3.31 earnings per share for the quarter, beating the consensus estimate of $3.30 by $0.01. Becton Dickinson and had a net margin of 6.84% and a return on equity of 15.51%. The firm had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.57 billion. During the same quarter in the previous year, the company posted $2.93 EPS. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. As a group, sell-side analysts forecast that Becton Dickinson and will post 12.57 earnings per share for the current fiscal year.

In other news, CEO Vincent A. Forlenza sold 11,532 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $260.38, for a total transaction of $3,002,702.16. Following the completion of the sale, the chief executive officer now owns 218,671 shares in the company, valued at approximately $56,937,554.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Charles R. Bodner sold 1,514 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $260.08, for a total value of $393,761.12. Following the sale, the senior vice president now owns 5,180 shares of the company’s stock, valued at approximately $1,347,214.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,174 shares of company stock valued at $8,354,013. Corporate insiders own 0.12% of the company’s stock.

Several large investors have recently modified their holdings of the company. Eagle Asset Management Inc. bought a new position in shares of Becton Dickinson and in the 2nd quarter worth about $2,062,000. GAM Holding AG raised its position in shares of Becton Dickinson and by 56.4% in the second quarter. GAM Holding AG now owns 48,870 shares of the medical instruments supplier’s stock valued at $12,316,000 after buying an additional 17,622 shares during the last quarter. CIBC Asset Management Inc raised its position in shares of Becton Dickinson and by 0.5% in the second quarter. CIBC Asset Management Inc now owns 53,480 shares of the medical instruments supplier’s stock valued at $13,477,000 after buying an additional 247 shares during the last quarter. Black Diamond Financial LLC acquired a new stake in shares of Becton Dickinson and in the second quarter valued at about $562,000. Finally, Findlay Park Partners LLP raised its position in shares of Becton Dickinson and by 8.3% in the second quarter. Findlay Park Partners LLP now owns 2,220,000 shares of the medical instruments supplier’s stock valued at $559,462,000 after buying an additional 170,000 shares during the last quarter. Institutional investors and hedge funds own 84.52% of the company’s stock.

About Becton Dickinson and

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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