Becton Dickinson, the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Josh Jennings from TD Cowen maintained a Hold rating on the stock and has a $183.00 price target.
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Josh Jennings has given his Hold rating due to a combination of factors related to Becton Dickinson’s recent performance and future outlook. The company’s preliminary fourth-quarter revenue of $5.9 billion aligns with expectations, showing a 3.9% organic growth. However, despite the strong performance in areas like BD Interventional and Medication Delivery Solutions, the company faced more significant challenges than anticipated in its Pharm Systems and Biosciences segments, impacting overall results.
Additionally, the departure of the current CFO, Chris DelOrefice, introduces some uncertainty, although an interim replacement has been named. While Becton Dickinson expects to meet or slightly exceed its full-year EPS guidance, the macroeconomic challenges and leadership transition contribute to a cautious outlook. These elements combined suggest that while the company is performing well, the potential for significant upside may be limited, justifying a Hold rating.
In another report released on October 11, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $203.00 price target.
Based on the recent corporate insider activity of 71 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BDX in relation to earlier this year.