- JPMorgan downgraded Becton Dickinson and Co BDX to Neutral from Overweight with a price target of $265, down from $280.
- While Becton reported better than expected top and bottom-line Q3 results, analyst Robert Marcus tells investors that this was overshadowed by the company's "muted" Q4 and FY22 outlook.
- Though he had been expecting a weak FY22 outlook, the floor for FY22 EPS of $12.00 is "well below" the Street's forecast heading into the report, and he is "struggling to fully understand why margins are taking so long to return to pre-COVID-19 levels," Marcus said.
- Price Action: BDX shares closed down 0.85% at $241.04 on Friday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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