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Based in Franklin Lakes, New Jersey, Becton, Dickinson and Company (BDX) is a leader in medical technology. It is renowned for its extensive portfolio of medical devices, laboratory equipment, and diagnostic products, including syringes, needles, and specimen collection systems. With a market cap of $66.97 billion, BDX is recognized for its innovation, customer-centric approach, and commitment to improving healthcare outcomes. BDX is scheduled to announce its fiscal Q3 earnings before the market opens on Thursday, Aug. 1.
Ahead of the event, analysts expect BDX to report a profit of $3.31 per share, up 11.8% from $2.96 in the year-ago quarter. The company has consistently surpassed or matched Wall Street’s EPS estimates in its last four quarterly reports. Its adjusted earnings of $3.17 per share for the last quarter surpassed the consensus estimate by 7.1%.
For fiscal 2024, analysts expect BDX to report EPS of $13.04, up 6.8% from $12.21 in fiscal 2023.
BDX stock is down 5% on a YTD basis, underperforming the broader S&P 500 Index's ($SPX) 16.2% gains and the iShares U.S. Medical Devices ETF’s (IHI) 2.5% returns over the same time frame.
BDX rose more than 3% on May 2 after reporting Q2 results. Revenue for the period was $5.05 billion, exceeding analysts' forecasts of $5.03 billion. The company expects full-year revenue between $20.10 billion and $20.30 billion. Since the earnings release, the stock has been on a downtrend.
The consensus opinion on BDX stock is bullish, with an overall “Strong Buy” rating. Out of 16 analysts covering the stock, 12 advise a “Strong Buy” rating, one suggests a “Moderate Buy” rating, and three suggest a “Hold.”
This configuration is slightly more bullish than three months ago when the stock had 11 “Strong Buy” ratings. BDX's average analyst price target is $277.57, indicating a potential upside of 19.8% from the current levels.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
