UPDATE: Stifel Nicolaus Initiates Becton, Dickinson and Company at Hold; Acceleration Postponed
Stifel Nicolaus initiated coverage on Becton, Dickinson and Company (NYSE: BDX) with a Hold rating.
Stifel Nicolaus noted, "BD is a premier hospital supplies and diagnostic company with leading market shares in most of its major segments. Sales growth appears to have stabilized now in the ~4%-5% range ex-FX for two consecutive quarters -- following a sharp deceleration in the FY2009-2011 timeframe. But headwinds remain, given the ongoing difficulties of redicting improving global healthcare spending trends. As well, the lack of major visible new growth drivers, increased Diagnostic Systems division competition, and ongoing uncertainties surrounding government funding for the Biosciences division remain challenging."
Becton, Dickinson and Company closed at $75.59 on Monday.
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