Argus lowered the firm’s price target on Becton Dickinson (BDX) to $180 from $230 and keeps a Buy rating on the shares. The company is repositioning itself as a pure-play med tech company, having completed the spin-off of its Biosciences and Diagnostics solution business, the analyst tells investors in a research note. The stock also trades at an 11.5 times forward earnings multiple, which is below the average of 20.4 times for the firm’s universe of MedTech stocks, Argus added.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BDX:
- The Week That Was, The Week Ahead: Macro and Markets, Mar. 8
- Becton Dickinson receives FDA clearance for Surgiphor 1000mL
- Becton Dickinson Expands Debt Tender Offers Amid Strong Demand
- Fourteen new option listings and one option delisting on February 11th
- Becton Dickinson price target raised to $198 from $185.70 at Citi