Citigroup Begins Coverage on Becton, Dickinson and Company (NYSE:BDX)

Stock analysts at Citigroup assumed coverage on shares of Becton, Dickinson and Company (NYSE:BDX) in a research note issued on Tuesday, MarketBeat Ratings reports. The firm set a “buy” rating and a $233.00 price target on the medical instruments supplier’s stock. Citigroup’s target price would indicate a potential upside of 12.12% from the company’s previous close.

Several other research firms have also weighed in on BDX. Bank of America upped their price objective on shares of Becton, Dickinson and Company from $190.00 to $207.00 and gave the company a “neutral” rating in a research note on Monday, January 5th. Morgan Stanley boosted their price target on shares of Becton, Dickinson and Company from $197.00 to $210.00 and gave the company an “overweight” rating in a report on Tuesday, December 2nd. Stifel Nicolaus increased their price objective on Becton, Dickinson and Company from $210.00 to $215.00 and gave the stock a “buy” rating in a report on Wednesday, January 7th. Piper Sandler boosted their target price on Becton, Dickinson and Company from $190.00 to $205.00 and gave the company a “neutral” rating in a research note on Wednesday, January 28th. Finally, Wall Street Zen lowered Becton, Dickinson and Company from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Five analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, Becton, Dickinson and Company currently has a consensus rating of “Hold” and an average price target of $213.36.

Becton, Dickinson and Company Stock Up 0.6%

NYSE:BDX opened at $207.82 on Tuesday. The business’s fifty day moving average price is $199.25 and its 200 day moving average price is $191.87. The firm has a market capitalization of $59.21 billion, a price-to-earnings ratio of 35.65, a PEG ratio of 2.28 and a beta of 0.25. The company has a current ratio of 1.11, a quick ratio of 0.64 and a debt-to-equity ratio of 0.69. Becton, Dickinson and Company has a 1-year low of $162.29 and a 1-year high of $245.23.

Becton, Dickinson and Company (NYSE:BDX) last released its earnings results on Thursday, November 6th. The medical instruments supplier reported $3.96 earnings per share for the quarter, beating the consensus estimate of $3.92 by $0.04. The company had revenue of $5.89 billion for the quarter, compared to analysts’ expectations of $5.91 billion. Becton, Dickinson and Company had a return on equity of 16.42% and a net margin of 7.68%.The business’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.81 EPS. On average, sell-side analysts forecast that Becton, Dickinson and Company will post 14.43 earnings per share for the current fiscal year.

Becton, Dickinson and Company announced that its board has authorized a stock buyback program on Tuesday, January 27th that authorizes the company to repurchase $10.00 million in shares. This repurchase authorization authorizes the medical instruments supplier to purchase up to 0% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Insider Activity at Becton, Dickinson and Company

In related news, Director Bertram L. Scott sold 217 shares of the firm’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $176.58, for a total value of $38,317.86. Following the transaction, the director directly owned 35,816 shares in the company, valued at approximately $6,324,389.28. This trade represents a 0.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Michael David Garrison sold 1,610 shares of the business’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $207.46, for a total transaction of $334,010.60. Following the transaction, the executive vice president directly owned 12,095 shares of the company’s stock, valued at approximately $2,509,228.70. This represents a 11.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 2,680 shares of company stock worth $539,848. Corporate insiders own 0.40% of the company’s stock.

Institutional Trading of Becton, Dickinson and Company

Several hedge funds have recently added to or reduced their stakes in BDX. SOA Wealth Advisors LLC. boosted its position in shares of Becton, Dickinson and Company by 256.8% in the third quarter. SOA Wealth Advisors LLC. now owns 132 shares of the medical instruments supplier’s stock valued at $25,000 after acquiring an additional 95 shares during the period. Activest Wealth Management boosted its holdings in Becton, Dickinson and Company by 285.3% in the 3rd quarter. Activest Wealth Management now owns 131 shares of the medical instruments supplier’s stock valued at $25,000 after purchasing an additional 97 shares during the period. Imprint Wealth LLC acquired a new stake in Becton, Dickinson and Company in the 3rd quarter worth $25,000. Steph & Co. lifted its stake in shares of Becton, Dickinson and Company by 95.6% in the fourth quarter. Steph & Co. now owns 133 shares of the medical instruments supplier’s stock valued at $26,000 after buying an additional 65 shares during the period. Finally, Bell Investment Advisors Inc grew its position in Becton, Dickinson and Company by 474.1% during the second quarter. Bell Investment Advisors Inc now owns 155 shares of the medical instruments supplier’s stock worth $27,000 after buying an additional 128 shares in the last quarter. Institutional investors own 86.97% of the company’s stock.

About Becton, Dickinson and Company

Becton, Dickinson and Company (BDX) is a global medical technology company that develops, manufactures and sells a broad range of medical devices, instrument systems and reagents. BD’s products are used by healthcare institutions, clinical laboratories, life science researchers and the pharmaceutical industry to enable safe, effective delivery of care, specimen collection and diagnostic testing. The company’s operations span multiple business areas focused on medical devices, life sciences research tools and interventional technologies.

BD’s product portfolio includes single-use medical devices such as syringes, needles, needlesafety and injection systems, infusion therapy and medication management solutions, as well as vascular access, urology and oncology devices acquired through its interventional business.