In a report released today, Josh Jennings from TD Cowen maintained a Hold rating on Becton Dickinson, with a price target of $183.00.
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Josh Jennings has given his Hold rating due to a combination of factors that reflect both positive and cautious elements in Becton Dickinson’s recent performance. The company’s F3Q results exceeded expectations with revenue and EPS surpassing Street estimates, and organic sales growth showed improvement from the previous quarter. However, the overall growth remains modest, and the company maintained its full-year organic sales growth guidance, indicating limited upside potential.
Despite the strong performance in certain segments like BD Medical and Interventional, the Life Sciences division underperformed, with sales declining due to lower demand for instruments. While margins were better than expected, the mixed results across different segments suggest a balanced outlook. Jennings’s Hold rating reflects the view that while Becton Dickinson is performing well in some areas, the overall growth prospects and market conditions warrant a cautious stance.
Based on the recent corporate insider activity of 68 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.