Why Becton Dickinson's Stock Is Trading Lower Today

Becton Dickinson and Co BDX shares are trading lower on Wednesday.

The company announced an offering of $1.5 billion of common stock and $1.5 billion of Depositary shares representing interests in mandatory convertible preferred stock.

Becton, Dickinson distributes medical surgical products, such as needles, syringes, and sharps-disposal units. The company also manufactures diagnostic instruments and reagents, as well as flow cytometry and cell-imaging systems.

BD Interventional (largely the former Bard business) accounts for 23% of revenue. International revenue accounts for 44% of the company's business.

Becton Dickinson was trading down 6.33% at $246.54 on Wednesday. The stock has a 52-week high of $286.72 and a 52-week low of $197.75.