With a market cap of $68.8 billion, Franklin Lakes, New Jersey-based Becton, Dickinson and Company (BDX) is a leading global medical technology firm. It develops and supplies medical devices, diagnostic products, and lab equipment globally, focusing on improving medication delivery, diagnostics, and interventional care. BDX is expected to release its fiscal Q4 earnings results before the market opens on Thursday, Nov. 7.
Ahead of this event, analysts expect the medical device manufacturer to report a profit of $3.77 per share, marking an increase of 10.2% from $3.42 per share in the same quarter last year. The company has consistently exceeded or met Wall Street’s earnings expectations over the past four quarters. BDX surpassed the consensus EPS estimate by a margin of 5.7% in the most recent quarter.
For fiscal 2024, analysts foresee BDX to report EPS of $13.11, up 7.4% from $12.21 in fiscal 2023. Looking forward to fiscal 2025, its EPS is projected to grow 9.1% year-over-year to $14.30.
Becton, Dickinson and Company has seen a decline of 5% over the past 52 weeks, underperforming both the S&P 500 Index’s ($SPX) 41.4% return and the Health Care Select Sector SPDR Fund’s (XLV) 20.9% increase over the same period.
Despite reporting better-than-expected Q3 adjusted EPS of $3.50, BDX shares fell 2.1% on Aug. 1 due to a revenue miss, with reported sales of nearly $5 billion coming in below analysts’ estimates, suggesting weaker-than-anticipated top-line growth. Furthermore, BD narrowed its full-year revenue guidance to $20.1 billion, signaling a cautious outlook. The company also reduced its expected organic revenue growth range to 5% – 5.3%, which raised concerns about slowing demand in certain segments.
Analysts’ consensus view on Becton, Dickinson and Company stock is bullish, with a “Strong Buy” rating. Out of 17 analysts covering the stock, 14 recommend a “Strong Buy,” one suggests a “Moderate Buy,” and the remaining two give a “Hold” rating. This configuration is more bullish than three months ago, with 12 analysts suggesting a “Strong Buy.”
The average analyst price target for BDX is $278.67, suggesting a modest potential upside of 16.6% from the current levels.
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