Strategies & Market Trends : Value Investing

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To: Jack O B who wrote (47631)4/26/2012 3:45:31 AM
From: Paul Senior1 Recommendation  Read Replies (1) of 60827
Jack O B, BDX is a tough one for me to come up with a clear opinion. I hold a few shares. Some of us here were buying in early '09, and I was one. I have sold some of those shares in past six months. Possibly because I just got tired of holding and I've been afraid of giving up much of my gains in the stock as the stock has dropped from highs of the year. Possibly also because I wanted to raise some cash for other opportunities.

In some ways the stock fits for me for a value buy (profit margins, p/sales). On some other measures, it doesn't (lack of growth in stated book value vs. current p/e, increasing d/e ratio).

I've not been following BDX -- the company and its business -- very much at all. That of course reduces my confidence in what's happening now and in future with the company. Which in turn, accentuates the likelihood that I have sold at the wrong time.

I notice now my last purchases were for a few shares @ $75.23 on 5/13/10 and then a very few shares (just a touch more) @$69.72 a month later. I believe I'll make a note that if the stock does drop a few points or so below my $75.23, that I might want to buy a few more shares.

For you though, I guess if I worked for the company and knew it's history and planned on holding the stock 5, 10, 15 or more years, then yes, my opinion would be that I would start to buy shares here at current price and also begin to reinvest dividends.

All jmo, and I've been wrong, many many times.

Positive article in January Barron's:

"Becton Dickinson (ticker: BDX) is the world's top supplier of needles and syringes, with roughly 70% of the market, and is the go-to name for many other small-ticket diagnostic and analysis products that are seeing growing worldwide demand."

"This is a well managed company that's appropriate for any investor's portfolio," says Mark Coffelt, chief investment officer of Empiric Advisors, who thinks the stock's fair value is around $100 a share. He notes that in the past year, macro concerns have "taken focus away from stock fundamentals, but I think that's going to change. We focus on the DNA of a company, and Becton Dickinson's DNA looks good."

"Part of the company's success is tied to its strong brand and product mix: Health-care providers know and trust the name, and Becton Dickinson's wide range of low-price, consumable products makes the company a near one-stop shop that doesn't feel cost-cutting measures as acutely as other suppliers of higher-priced medical equipment"
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