Analyst Josh Jennings of TD Cowen maintained a Hold rating on Becton Dickinson (BDX – Research Report), retaining the price target of $260.00.
Josh Jennings has given his Hold rating due to a combination of factors surrounding Becton Dickinson’s recent financial performance. The company’s shares experienced a significant decline following their second-quarter results, which did not meet the expectations of Wall Street analysts. The updated guidance from Becton Dickinson suggests a need for accelerated growth in the upcoming quarters, which may require investors to have confidence in the company’s growth drivers for the latter half of fiscal 2025.
While the BD Medical division slightly exceeded projections, other segments such as Life Sciences and Interventional faced challenges, with revenue figures falling short of estimates. Despite these mixed results, the company managed to surpass expectations in adjusted gross and operating margins, as well as adjusted earnings per share. These factors collectively contribute to a cautious outlook, justifying the Hold rating as investors assess the company’s ability to achieve its growth targets.
According to TipRanks, Jennings is a 2-star analyst with an average return of 0.2% and a 45.47% success rate. Jennings covers the Healthcare sector, focusing on stocks such as Abbott Laboratories, Boston Scientific, and Edwards Lifesciences.
In another report released today, Bank of America Securities also downgraded the stock to a Hold with a $190.00 price target.