|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||202.73 - 207.73|
|52-week range||161.29 - 207.73|
|PE ratio (TTM)||60.16|
|Earnings date||2 Nov 2017|
|Forward Dividend & Yield||2.92 (1.45%)|
|1y target est||219.00|
Of the 15 firms tracking BD, ~67% of analysts have recommended a “buy” for BD—of which 70% have given a “strong buy” recommendation.
Deal-making in 2017 is off to a rough start, and according to one top dealmaker, the second half of the year is only looking worse.
Becton Dickinson’s US$24bn takeover of C R Bard in the investment grade medical device sector is the biggest of the year to date as the pipeline kicks back into life after a thin first quarter. Near record stock markets and strong investor demand for debt are fuelling transactions that had been on hold due to volatility created by the US presidential election late last year. “Company valuation multiples are elevated given the stock market, but rather than wait to realize growth, companies are willing to buy it through M&A," said Robert Smock, head of corporate advisory at MUFG.
Jim Cramer says earnings and mergers, not Wednesday's tax announcement, are the real factors pushing the market higher.
U.S. stocks rallied on Monday, tracking a relief rally that swept through Asian and European markets, after centrist candidate and market favorite Emmanuel Macron won the first round of the French presidential election. European banks jumped 7.4 percent while banks on the S&P 500 added 2.8 percent. The Dow Jones Industrial Average rose 216.13 points, or 1.05 percent, to 20,763.89, the S&P 500 gained 25.46 points, or 1.08 percent, to 2,374.15 and the Nasdaq Composite added 73.30 points, or 1.24 percent, to 5,983.82.
The Dow Jones Industrial Average rose 230.39 points, or 1.12 percent, to 20,778.15, the S&P 500 gained 26.95 points, or 1.15 percent, to 2,375.64 and the Nasdaq Composite added 77.50 points, or 1.31 percent, to 5,988.02. U.S. investors are also gearing up for the busiest earnings week in at least a decade, with over 190 S&P 500 members, including heavyweights Alphabet (Xetra: ABEA.DE - news) and Microsoft (Euronext: MSF.NX - news) due to report results this week. Of the 100 S&P 500 companies that have reported results so far, 77 percent have beaten profit expectations, according to Thomson Reuters I/B/E/S. This has helped lift the blended profit growth estimates to 11 percent from 10 percent at the start of the earnings season.