Argus analyst David Toung lowered the price target on Becton Dickinson (NYSE: BDX) to $180.00 (from $230.00) while maintaining a Buy rating.

The analyst comments "Our rating on Becton, Dickinson & Co. (NYSE: BDX) is BUY. We like to company's strategy of focusing on faster-growing opportunities in the Medical and Interventional segments after divesting its Biosciences and Diagnostics business. The sale to Waters Corp. provides $4 billion in cash that can be used for stock repurchasing, debt repayment, and internal investments. BD has increased its dividend for 54 consecutive years. It now pays a dividend at the annualized rate of $4.20 for a yield of 2.7%. Given the recent market turbulence, we are lowering our price target to $180 from $230."