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BDX

Becton Dickinson

$196.63

-1.21 (-0.61%)

, BCR

Bought by BDX

$318.18

-0.76 (-0.24%)

16:57
08/08/17
08/08
16:57
08/08/17
16:57

C.R. Bard approved merger agreement with Becton, Dickinson and Company

C. R. Bard (BCR) and Becton, Dickinson and Company (BDX) announced the results of Bard's special meeting of shareholders, held on August 8 and at which a quorum was present, for Bard shareholders to consider and vote upon the proposed merger of Bard with BD. Bard shareholders approved the definitive merger agreement, with approximately 99% of shares voting cast in favor of the proposal. As previously announced on April 23 Bard and BD entered into a definitive agreement pursuant to which BD would acquire Bard in a stock and cash transaction. Bard shareholder approval was a condition to the transaction. The proposed transaction remains subject to certain other conditions and approvals, and is presently expected to close in the Q4.

BDX

Becton Dickinson

$196.63

-1.21 (-0.61%)

BCR

Bought by BDX

$318.18

-0.76 (-0.24%)

  • 08

    Aug

  • 21

    Aug

BDX Becton Dickinson
$196.63

-1.21 (-0.61%)

04/25/17
LEER
04/25/17
NO CHANGE
Target $317
LEER
Market Perform
C.R. Bard price target raised to $317 from $246 at Leerink
Leerink analyst Richard Newitter raised his price target for C.R. Bard (BCR) to $317 from $246 following the announced acquisition price from Becton Dickinson (BDX). The analyst reiterates a Market Perform rating as he believes the deal price fully values C.R. Bard and sees limited risk of a competitive bid or barriers from the FTC.
05/23/17
MSCO
05/23/17
NO CHANGE
MSCO
Medtech Technology sector upgraded to Attractive from In-Line at Morgan Stanley
Morgan Stanley upgraded the Medtech Technology sector to Attractive saying structural fundamentals have improved and recent acceleration will likely continue, driving further multiple expansion.
06/30/17
RAJA
06/30/17
UPGRADE
Target $226
RAJA
Strong Buy
Becton Dickinson upgraded to Strong Buy from Outperform at Raymond James
Raymond James analyst Lawrence Keusch upgraded Becton Dickinson to Strong Buy from Outperform and increased its price target to $226 from $210 and believes it should be a core holding based an an above average outlook for 5-6% organic growth and mid-teens earnings increases with further potential upside. The analyst views the C.R. Bard acquisition as a sold strategic fit with an accelerating growth profile given its deep R&D pipeline and sizeable addressable market opportunities. Post close, he sees strong free cash flow generation of $10B from 2018-2020, allowing the company to rapidly deleverage to 3x in 2020 from 4.7x.
06/30/17
06/30/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Cabot Oil & Gas (COG) upgraded to Buy from Neutral at BofA/Merrill with analyst Doug Leggate saying Cabot 's gross Marcellus takeaway capacity will increase to 3.7 bcf/d from 2bcf/d by end of 2018 and positioned to increase free cash flow to $2B from $872M per year for 25 years. 2. Becton Dickinson (BDX) upgraded to Strong Buy from Outperform at Raymond James with analyst Lawrence Keusch saying he believes it should be a core holding based an an above average outlook for 5%-6% organic growth and mid-teens earnings increases with further potential upside. 3. Walgreens Boots Alliance (WBA) upgraded to Buy from Hold at Needham. 4. ManTech (MANT) upgraded to Buy from Hold at Loop Capital with analyst Joseph Vafi saying he sees "company-specific and secular catalysts" driving improving fundamentals and upward revisions to consensus estimates. 5. D.R. Horton (DHI) upgraded to Outperform from Market Perform at Raymond James with the firm saying it is uniquely positioned to capitalize on an unexpectedly tight and historically low existing home inventories, while new home demand remains broadly resilient despite rising prices. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
BCR Bought by BDX
$318.18

-0.76 (-0.24%)

04/24/17
MSCO
04/24/17
DOWNGRADE
MSCO
Equal Weight
C.R. Bard downgraded to Equal Weight from Overweight at Morgan Stanley
Morgan Stanley analyst David Lewis downgraded C.R. Baird (BCR) to Equal Weight following the acquisition announcement by Becton Dickinson (BDX) saying a higher bid is unlikely.
04/25/17
BMOC
04/25/17
DOWNGRADE
BMOC
Market Perform
C.R. Bard downgraded to Market Perform from Outperform at BMO Capital
C.R. Bard (BCR) is being acquired by Beckton Dickinson for (BDX) for $317 per share.
04/25/17
RAJA
04/25/17
DOWNGRADE
RAJA
Market Perform
C.R. Bard downgraded to Market Perform from Strong Buy at Raymond James
C.R. Bard (BCR) is being acquired by Beckton Dickinson for (BDX) for $317 per share.

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