BofA Lowers Becton Dickinson Price Target to $170, Maintains Neutral

Bank of America (BofA) lowered its price target on Becton, Dickinson and Company (NYSE:BDX) from $177 to $170, while reiterating a Neutral rating on the shares. The adjustment was made on June 12, according to an analyst note.

Rating Change

• Previous Rating: Neutral with a $177 price target.
• Current Rating: Neutral with a $170 price target.

Analyst Rationale

The analyst noted that the firm's services team continues to observe headwinds in the medtech sector, justifying the lower price target. No further details were provided on the nature of these headwinds, but they may include sales pressures or margin compression.

Context

The revision comes amid broader challenges for medtech companies, including slowing demand for certain medical devices post-pandemic and rising raw material costs. BDX shares have experienced volatility over the past year.

Conclusion

BofA's stance remains cautious on BDX in the near term, maintaining a Neutral rating. Investors may want to monitor the company's performance in upcoming quarters to assess the impact of the headwinds.