Becton Dickinson Stock (NYSE:BDX), Trade Ideas

Becton Dickinson

Becton, Dickinson

Becton, Dickinson is the world's largest manufacturer and distributor of medical surgical products, such as needles, syringes, and sharps-disposal units. The company also manufactures pre-filled devices, diagnostic instruments and reagents, as well as flow cytometry and cell-imaging systems. BD Medical is nearly half of the total business, while BD Life Sciences (27% of 2023 revenue) and BD Interventional (24%) account for the remainder. International revenue accounts for 43% of the company's business.

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West Pharmaceutical Services, Inc. (NYSE: WST) reported first-quarter 2024 adjusted earnings per share (ETF:EPS) of $1.56, which beat the Zacks Consensus Estimate by 20.9%. The bottom line, however, was down 21.2% year over year.

West Pharmaceutical Q1 Earnings Beat, HVP Sales Weak

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AngioDynamics resolves decade-long patent litigation with Becton, Dickinson in landmark settlement, streamlining legal expenses and marking a significant milestone for the company.

AngioDynamics Resolves Decade-Long Patent Litigation With Becton, Dickinson In Settlement Agreement

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On CNBC’s &#34;Mad Money Lightning Round,&#34; Jim Cramer sang the praises of  Energy Transfer LP  (NYSE: ET), which posted better-than-expected earnings 

Jim Cramer Says Don&#39;t Sell This Beauty Brand, Believes KKR And Blackstone &#39;Can Make More Money&#39;

Becton, Dickinson and Company Common Stock

Becton Dickinson & Co

West Pharmaceutical Services, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wst#NYSE">WST</a>) reported first-quarter 2024 adjusted earnings per share (ETF:EPS) of $1.56, which beat the Zacks Consensus Estimate by 20.9%. The bottom line, however, was down 21.2% year over year.
The adjustments include expenses related to the amortization of acquisition-related intangible assets.
GAAP EPS for the quarter was $1.55, down 16.2% year over year.
The company&#39;s shares have risen 8.1% in the past year compared with the industry&#39;s growth of 4.9%. The broader S&amp;P 500 Index has increased 25.5% in the same time frame.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/84/65685.jpg?v=1798402361" /> 
Image Source: Zacks Investment Research
<h3>Revenues in Detail</h3>
West Pharmaceutical registered net sales of $695.4 million in the first quarter, down 3% year over year. The figure, however, beat the Zacks Consensus Estimate by 3.3%.
The company recorded an organic net sales decline of 3% in the reported quarter.
Per management, the top-line decline was driven by Proprietary Products&#39; lower high-value product (HVP) sales and weak Generic product sales. However, higher Contract Manufacturing component sales and continued demand for NovaPure and self-injection device platforms partially offset the decline.
<h3>Segmental Details</h3>
West Pharmaceutical operates under two segments &mdash; Proprietary Products and Contract-Manufactured Products.
Net sales in the Proprietary Products segment were $559.5 million, indicating a decline of 4% year over year as well as on an organic basis. HVP net sales, which accounted for approximately 72% of the segment&#39;s net sales, registered an organic decline of low-single-digit percentage points.
The Pharma market units of the Proprietary Products segment reflected a high-single-digit percentage point organic decline in the first-quarter sales. The Generic market unit registered a double-digit percentage point decline in sales. However, low-single-digit organic sales growth for the Biologics market unit partially offset the decline in the Pharma and Generic market units.
Product-wise, the company witnessed continued growth for its NovaPure and self-injection device platforms, along with higher sales for Daikyo Crystal Zenith components, which were more than offset by declines in FluroTec, Westar and standard components.
Net sales in the Contract-Manufactured Products segment increased 1.8% year over year to $135.9 million. Currency translation was a tailwind, boosting sales growth by 50 basis points. The segment saw a 1.3% improvement in organic net sales.
<h3>Margins</h3>
In the quarter under review, West Pharmaceutical&#39;s gross profit decreased 15.1% to $230.2 million. The gross margin contracted nearly 480 basis points (bps) to 33.1%.
Selling, general and administrative expenses rose 0.8% to $86.7 million. Research and development expenses went up 2.9% year over year to $17.6 million.
Adjusted operating profit totaled $123 million, indicating a decrease of 25.4% from the prior-year quarter&#39;s level. The adjusted operating margin contracted 530 bps to 17.7%.
<h3>Financial Position</h3>
West Pharmaceutical exited first-quarter 2024 with cash and cash equivalents of $601.8 million compared with $853.9 million at the end of the fourth quarter. Total debt at the end of the reported quarter was $206.2 million compared with $206.8 million at the end of the previous quarter.
Cumulative net cash flow from operating activities totaled $118.2 million compared with $138.1 million in the year-ago period.
<h3>2024 Guidance</h3>
WST raised its 2024 outlook for earnings but maintained the same for revenues.
It projects adjusted EPS in the range of $7.63-$7.88 for full-year 2024, compared with the previous guidance of $7.50-$7.75. The Zacks Consensus Estimate for the same is pegged at $7.62.
Net sales are projected between $3 billion and $3.025 billion. The Zacks Consensus Estimate for the same is pegged at $3.01 billion. The company expects currency translation to have a positive impact of $8 million on revenues. The organic sales growth estimate is 2-3%.
<h3>Our Take</h3>
West Pharmaceutical exited the first quarter of 2024 with better-than-expected results. The recovery in organic growth is encouraging. However, lower COVID-related sales continue to hurt the top line. The company&#39;s lower-than-market revenue outlook reflects the same. Moreover, contractions in the operating margin do not bode well.
On a positive note, demand for West Pharmaceutical&#39;s HVP products continued to be strong. Robust organic net sales growth in the Pharma, Biologics and Generic market units, excluding COVID-related sales, is another quarterly highlight.
<div class="chart_embed">
<h3>West Pharmaceutical Services, Inc. Price, Consensus and EPS Surprise</h3>
<a href="https://www.zacks.com/stock/chart/WST/price-consensus-eps-surprise-chart?icid=chart-WST-price-consensus-eps-surprise-chart"><img alt="West Pharmaceutical Services, Inc. Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/58/1714051965.png" style="height:265px; width:581px" title="" /> </a>
West Pharmaceutical Services, Inc. price-consensus-eps-surprise-chart | West Pharmaceutical Services, Inc. Quote
</div>
<h3>Zacks Rank and Stocks to Consider</h3>
Currently, West Pharmaceutical carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are IDEXX Laboratories, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/idxx#NASDAQ">IDXX</a>), Becton, Dickinson and Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bdx#NYSE">BDX</a>), popularly known as BD, and Ecolab Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ecl#NYSE">ECL</a>).
IDEXX, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 11.6%. IDXX&#39;s earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 8.3%.&nbsp;
IDEXX&#39;s shares have risen 2.9% compared with the industry&#39;s 3.9% growth in the past year.
BD, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 9.4%. BDX&#39;s earnings surpassed estimates in three of the trailing four quarters and met once, delivering an average surprise of 4.6%.
BD&#39;s shares have lost 11.1% against the industry&#39;s 4.9% growth in the past year.
Ecolab, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 13.3%. ECL&#39;s earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 1.7%.
Ecolab&#39;s shares have rallied 33.8% against the industry&#39;s 9.3% decline in the past year.
<a href="https://www.zacks.com/stock/news/2262524/west-pharmaceutical-wst-q1-earnings-beat-hvp-sales-weak?cid=CS-BENZ-FT-analyst_blog|earnings_article-2262524">To read this article on Zacks.com click here.</a>

The new BD FACSDiscover&nbsp;S8 Cell Sorters feature&nbsp;BD CellView&nbsp;Image Technology, profiled on the cover of the journal&nbsp;Science&nbsp;in 2022, and BD SpectralFX&trade; Technology &mdash; bringing to market breakthrough innovations in real-time imaging and spectral flow cytometry. The three- and four-laser additions to the BD FACSDiscover&trade; S8 Cell Sorter family complement the five-laser instrument launched last year and provide scientists&nbsp;greater access, options, and flexibility to incorporate real-time imaging and spectral cell sorting technology in their labs.

Becton, Dickinson Announced Global Commercial Release Of New Cell Sorters To Enable More Researchers In Broader Range Of Fields, Including Cell Biology, Cancer Research And Immunology In Traditional Flow Cytometry Experiments

AngioDynamics, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ANGO#NASDAQ">ANGO</a>) signed a settlement agreement with&nbsp;Becton, Dickinson And Company&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BDX#NYSE">BDX</a>) to resolve all&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/b38035823/angiodynamics-announces-settlement-of-all-patent-litigation-with-c-r-bard-inc" rel="noreferrer noopener">outstanding patent litigation with C.R. Bard</a>.
As per the settlement agreement, BD will provide AngioDynamics with a license for specific port patents, while AngioDynamics will reciprocate by granting BD a license for certain catheter patents.
&#8220;We are pleased to bring this long-standing litigation to a successful conclusion that will reduce our ongoing legal spend and lift a more than ten-year distraction to the Company,&#8221; commented Jim Clemmer, President and Chief Executive Officer of AngioDynamics.
AngioDynamics will make a single lump sum payment to BD totaling $7 million, with $3 million paid within five days and the remaining balance paid in installments over the following 12 months.
AngioDynamics will additionally commit to making six minimum annual payments to BD amounting to $2.5 million each, continuing until February 2029.&nbsp;
Furthermore, there&#8217;s a provision for potential additional payments if six percent (6%) of AngioDynamics&#8217; annual net sales from port products surpass the minimum payment threshold.
The agreement contains mutual covenants not to sue and releases. Neither party admitted any liability in connection with the settlement agreement.
&#8220;The settlement essentially allows us to spread what would have been two years of future legal fees over the course of six years,&#8221; Clemmer added.
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, ANGO stock has lost over 40% in the past year.
Price Action: ANGO shares traded higher by 1.20% to $5.90 premarket on the last check Tuesday.
Image by Okan Caliskan from Pixabay

Under the terms of the settlement, BD will grant a license to AngioDynamics under certain of BD&#39;s port patents and AngioDynamics will grant BD a license under certain of AngioDynamics&#39; catheter patents. AngioDynamics will make a one-time lump sum payment to BD in the amount of&nbsp;$7 million,&nbsp;$3 million&nbsp;of which will be paid within five days and the balance of which will be payable of installments over the next 12 months.&nbsp;AngioDynamics will also make six minimum annual payments to BD of&nbsp;$2.5 million&nbsp;through February 2029, and potential additional payments if six percent (6%) of annual net sales of AngioDynamics&#39; port products exceed the minimum payment.

AngioDynamics Reports Settlement Of All Patent Litigation With C.R. Bard

Becton Dickinson's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BDX#NYSE">BDX</a>) short percent of float has risen 34.72% since its last report. The company recently reported that it has 2.79 million shares sold short, which is 0.97% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.82 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Becton Dickinson Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1711730715_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Becton Dickinson has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Becton Dickinson's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Becton Dickinson's peer group average for short interest as a percentage of float is 4.09%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

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Peering Into Becton Dickinson's Recent Short Interest

On CNBC&rsquo;s &quot;Mad Money Lightning Round,&quot; Jim Cramer sang the praises of Energy Transfer LP (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/et#NYSE">ET</a>), which posted better-than-expected earnings <a href="http://www.benzinga.com/general/politics/24/01/36473198/top-stocks-sectors-loved-by-congress-members-who-traded-in-2023-apple-nvidia-microsoft-ford-and-">for its fourth quarter</a>.
Cramer also mentioned how KKR &amp; Co. Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kkr#NYSE">KKR</a>) and Blackstone (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bx#NYSE">BX</a>) are having &quot;a big run now.&quot;
&quot;They&rsquo;re very good, and I think they can make more money than they have,&quot; he added.
KKR and Blackstone have over $550 billion and $1 trillion in assets under management, respectively.
On March 26, Weave Living and KKR reported the establishment of a strategic partnership to invest in rental housing assets in South Korea.
Rio Tinto Group (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rio#NYSE">RIO</a>) is a &quot;great company to buy here,&quot; Cramer said.
On Feb. 21, Rio Tinto reported full-year FY23 results. Sales revenue declined 3% Y/Y to $54 billion, beating the consensus of $53.9 billion. Underlying EPS decreased 12% Y/Y to $7.25, missing the street view of $7.27.
The &quot;Mad Money&quot; host recommended buying Becton, Dickinson and Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bdx#NYSE">BDX</a>). &quot;The stock has been getting crushed,&quot; he noted.
On March 21, Becton Dickinson said it increased production of medical syringes in the U.S. after the FDA recommended not using some China-made syringes as <a href="https://www.benzinga.com/markets/equities/24/03/37877619/fda-probe-on-china-made-syringes-becton-dickinson-boosts-us-syringe-output-following-concerns">part of its ongoing quality probe</a>.
When asked about California Resources Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/crc#NYSE">CRC</a>), he said, &quot;I would rather be in Constellation Energy (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/stz#NYSE">STZ</a>). If I&rsquo;m going to be in that, let&rsquo;s just go right to the source.&quot;
On March 19, California Resources announced the nomination of Christian S. Kendall to its Board of Directors.
e.l.f. Beauty, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/elf#NYSE">ELF</a>) is &quot;amazing,&quot; Cramer said. &quot;I would hold onto that, don&rsquo;t buy more, and don&rsquo;t sell.&quot;
On March 21, DA Davidson analyst Linda Bolton Weiser maintained e.l.f. Beauty with a Buy and maintained a $220 price target.
Cramer said Pure Storage, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pstg#NASDAQ">PSTG</a>) has just run so much. &quot;I have to advise you to buy some and then wait for a pullback,&quot; he added.
On March 15, Citigroup analyst Asiya Merchant initiated coverage on Pure Storage with a Buy rating and announced a price target of $65.
Samsara Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/iot#NYSE">IOT</a>) is the &quot;hottest stock, and it&rsquo;s going to make money, too, and it&rsquo;s really good,&quot; Cramer said.
On March 7, Samsara reported better-than-expected fourth-quarter financial results and issued FY25 guidance above estimates. The company posted quarterly revenue of $276.3 million, topping market estimates of $258.306 million.
&quot;A lot of lasers, a lot of optics, a lot of good stuff. Going to make money this year,&quot; Cramer said about Coherent Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cohr#NYSE">COHR</a>). He recommended buying some here and then wait for the stock to come down.
On Feb. 5, Coherent reported better-than-expected second-quarter financial results, issued third-quarter guidance and revised FY24 guidance.
Cramer said he likes New Fortress Energy Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nfe#NYSE">NFE</a>) and recommended buying the stock. &quot;I think Wes Edens [Founder and CEO] is absolutely terrific at what he does,&quot; he added.
Price Action:
<ul>
<li>Shares of Energy Transfer closed at $15.56 on Monday.</li>
<li>KKR shares gained 1% to close at $100.85.</li>
<li>Becton Dickinson shares fell 1.9% to settle at $241.67 on Monday.</li>
<li>Samsara shares gained 3.9% to close at $38.54.</li>
<li>Rio Tinto shares gained 0.7% to settle at $63.41.</li>
<li>Coherent fell 1.9% to close at $62.12 on Monday.</li>
<li>New Fortress Energy shares fell 1% to settle at $29.76.</li>
<li>California Resources shares gained 1.8% to settle at $53.99 on Monday.</li>
<li>Pure Storage shares gained 0.9% to close at $52.68 on Monday.</li>
<li>E.l.f. Beauty shares fell 2.7% to close at $200.04 on Monday.</li>
</ul>
Read Next: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/03/37912708/insiders-buying-greenwich-lifesciences-and-2-other-stocks"> Insiders Buying Greenwich LifeSciences And 2 Other Stocks </a>
Image: Shutterstock

Jim Cramer Says Don't Sell This Beauty Brand, Believes KKR And Blackstone 'Can Make More Money'

Thursday,&nbsp;Becton Dickinson And Co&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BDX#NYSE">BDX</a>) said it increased production of medical syringes in the U.S. after the FDA recommended not using some China-made syringes as part of its&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/03/n37865858/bd-increases-domestic-production-to-support-u-s-health-care-need-for-syringes" rel="noreferrer noopener">ongoing quality probe</a>.
Eric Borin, president of BD Medication Delivery Solutions, said, &#8220;BD has the capacity to support additional syringe demand and is further increasing U.S. production to help ensure continuity of patient care. Since the initial FDA safety communication in November, BD has increased domestic manufacturing of syringes in our Nebraska and Connecticut facilities to respond to customer needs.&#8221;
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/36896902/medical-device-maker-becton-dickinsons-q1-earnings-heres-why-this-analyst-is-bullis" rel="noreferrer noopener">Medical Device Maker Becton Dickinson&#8217;s Q1 Earnings: Here&#8217;s Why This Analyst Is Bullish On Long-Term Prospects</a>.
In November 2023, the FDA&nbsp;<a target="_blank" href="https://www.fda.gov/medical-devices/safety-communications/update-evaluating-plastic-syringes-made-china-potential-device-failures-fda-safety-communication" rel="noreferrer noopener">informed</a>&nbsp;consumers, healthcare providers, and facilities that the FDA is evaluating the potential for device failures (such as leaks, breakage, and other problems) with plastic syringes manufactured in China that are used for injecting fluids into or withdrawing fluids from, the body.&nbsp;
The agency said it received information about quality issues associated with several China-based manufacturers of syringes. The issue does not include glass syringes, pre-filled syringes, or syringes used for oral or topical purposes.
On Monday, the health regulator issued additional recommendations to U.S. suppliers, consumers, and healthcare organizations to immediately transition away from using plastic syringes manufactured by three Chinese companies.
The FDA cited three Chinese-based syringe manufacturers for regulator violations: Jiangsu Shenli Medical Production Co. Ltd, Medline Industries LP, and Sol-Millennium Medical Inc.
&#8220;We remain concerned that certain syringes manufactured in China may not provide consistent and adequate quality or performance,&#8221; the FDA said in a statement on its website, adding that the evaluation is ongoing.
In January, the agency informed CNBC that it had&nbsp;<a target="_blank" href="https://www.cnbc.com/2024/03/20/fda-safety-issues-with-china-made-syringes-more-widespread-than-initially-known.html" rel="noreferrer noopener">received</a>&nbsp;over 4,000 reports concerning problems with plastic syringes in 2023, clarifying that these reports encompassed syringes from various sources, not solely China. The agency acknowledged limitations in the data due to incomplete information and potential under-reporting.&nbsp;
As part of its extensive investigation, CNBC examined numerous narratives from syringe medical device reports (MDRs) submitted to the FDA, aiming to uncover suspected issues or malfunctions linked to medical products.
Price Action: BDX shares are up 1.18% at $240.68 on the last check Thursday.
Illustration of Phrama lab worker created with MidJourney.

Large Cap

FDA Probe On China-Made Syringes: Becton Dickinson Boosts US Syringe Output Following Concerns

Becton, Dickinson And Company Raised Domestic Production To Support US Health Care Need For Syringes

According to BD, the global, prospective, multi-center, single-arm, non-randomized AGILITY clinical study will include 315 patients at up to 40 clinical study sites across&nbsp;the United States,&nbsp;Europe,&nbsp;Australia&nbsp;and&nbsp;New Zealand. Follow-up for all treated patients will be performed at various points after treatment &mdash; starting at one month and ending at 36 months.&nbsp;

Becton, Dickinson Announced The Enrollment Of The First Patient In The Investigational Device Exemption Study, "AGILITY," Which Will Assess The Safety And Effectiveness Of The Bd Vascular Covered Stent For Peripheral Arterial Disease

BD (Becton, Dickinson and Company) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BDX#NYSE">BDX</a>), a leading global medical technology company, announced today that&nbsp;Dave Hickey&nbsp;has informed the company of his intent to retire from BD, effective&nbsp;July 1.
<a href="https://mma.prnewswire.com/media/1479210/BD_Logo.html" target="_blank"><img alt="BD (Becton, Dickinson and Company) Logo (PRNewsfoto/BD (Becton, Dickinson and Company))" src="https://mma.prnewswire.com/media/1479210/BD_Logo.jpg" /></a>
Hickey is currently executive vice president and president of the Life Sciences segment for BD, a position he has held since&nbsp;January 2021. Prior to his current role, Hickey was president of Integrated Diagnostic Solutions from 2019 to 2021, and president of Diagnostic Systems prior to that. Before joining BD in 2014, Hickey served in a range of executive leadership positions at Siemens Healthcare.

Dave Hickey to Retire from Becton, Dickinson and Company as EVP and President of the Life Sciences, Effective July 1

Becton Dickinson's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BDX#NYSE">BDX</a>) short percent of float has risen 8.97% since its last report. The company recently reported that it has 2.46 million shares sold short, which is 0.85% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.94 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Becton Dickinson Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1708546522_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Becton Dickinson has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Becton Dickinson's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Becton Dickinson's peer group average for short interest as a percentage of float is 3.93%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

BD (Becton, Dickinson and Company) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BDX#NYSE">BDX</a>), a leading global medical technology company, today announced a strategic partnership with Camtech Health, a digital health company focused on at-home health testing, to advance cervical cancer screening by offering the first-ever option for women in&nbsp;Singapore&nbsp;to self-collect a sample in the privacy of their own home.

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BD Partners with Camtech Health to Increase Access to Cervical Cancer Screening in Singapore

Across the recent three months, 5 analysts have shared their insights on Becton Dickinson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BDX#NYSE">BDX</a>), expressing a variety of opinions spanning from bullish to bearish.
The table below provides a snapshot of their recent ratings, showcasing how sentiments have evolved over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have recently evaluated Becton Dickinson and provided 12-month price targets. The average target is $281.8, accompanied by a high estimate of $305.00 and a low estimate of $269.00. Highlighting a 5.37% decrease, the current average has fallen from the previous average price target of $297.80. 
<img src="https://www.benzinga.com/files/images/story/2024/1707134427_0.png" alt="price target chart" />
<h2>Decoding Analyst Ratings: A Detailed Look</h2>
A clear picture of Becton Dickinson's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Travis Steed</td>
<td>Barclays</td>
<td>Raises</td>
<td>Overweight</td>
<td>$305.00</td>
<td>$301.00</td>
</tr>
<tr>
<td>Jayson Bedford</td>
<td>Raymond James</td>
<td>Raises</td>
<td>Outperform</td>
<td>$275.00</td>
<td>$269.00</td>
</tr>
<tr>
<td>Patrick Wood</td>
<td>Morgan Stanley</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$280.00</td>
<td>$310.00</td>
</tr>
<tr>
<td>Jason Bednar</td>
<td>Piper Sandler</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$280.00</td>
<td>$305.00</td>
</tr>
<tr>
<td>Jayson Bedford</td>
<td>Raymond James</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$269.00</td>
<td>$304.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Becton Dickinson. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Becton Dickinson compared to the broader market.</li>
<li>Price Targets: Gaining insights, analysts provide estimates for the future value of Becton Dickinson's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Navigating through these analyst evaluations alongside other financial indicators can contribute to a holistic understanding of Becton Dickinson's market standing. Stay informed and make data-driven decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/BDX/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Becton Dickinson analyst ratings.</a>
<h2>Delving into Becton Dickinson's Background</h2>
Becton, Dickinson is the world's largest manufacturer and distributor of medical surgical products, such as needles, syringes, and sharps-disposal units. The company also manufactures pre-filled devices, diagnostic instruments and reagents, as well as flow cytometry and cell-imaging systems. BD Medical is nearly half of the total business, while BD Life Sciences (26% of estimated 2023 revenue) and BD Interventional (25%) account for the remainder. International revenue accounts for 43% of the company's business.
<h3>Unraveling the Financial Story of Becton Dickinson</h3>
Market Capitalization Analysis: With an elevated market capitalization, the company stands out above industry averages, showcasing substantial size and market acknowledgment.
Positive Revenue Trend: Examining Becton Dickinson's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 6.85% as of 30 September, 2023, showcasing a substantial increase in top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Health Care sector.
Net Margin: Becton Dickinson's net margin is below industry standards, pointing towards difficulties in achieving strong profitability. With a net margin of 2.12%, the company may encounter challenges in effective cost control.
Return on Equity (ROE): The company's ROE is below industry benchmarks, signaling potential difficulties in efficiently using equity capital. With an ROE of 0.42%, the company may need to address challenges in generating satisfactory returns for shareholders.
Return on Assets (ROA): Becton Dickinson's ROA falls below industry averages, indicating challenges in efficiently utilizing assets. With an ROA of 0.2%, the company may face hurdles in generating optimal returns from its assets.
Debt Management: With a below-average debt-to-equity ratio of 0.62, Becton Dickinson adopts a prudent financial strategy, indicating a balanced approach to debt management.
<h2>Analyst Ratings: What Are They?</h2>
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
Analysts may supplement their ratings with predictions for metrics like growth estimates, earnings, and revenue, offering investors a more comprehensive outlook. However, investors should be mindful that analysts, like any human, can have subjective perspectives influencing their forecasts.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Ratings

Becton Dickinson Stock: A Deep Dive Into Analyst Perspectives (5 Ratings)

Barclays analyst Travis Steed maintains Becton Dickinson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BDX#NYSE">BDX</a>) with a Overweight and raises the price target from $301 to $305.

Price Target

Barclays Maintains Overweight on Becton Dickinson, Raises Price Target to $305

Becton, Dickinson, and Company&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BDX#NYSE">BDX</a>) posted first-quarter 2024 adjusted EPS of $2.68, beating the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">consensus of $2.40</a>.
BD reported sales of $4.71 billion, up 2.6% Y/Y (+1.6 on constant currency), slightly below the&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/02/n36884043/bd-reports-first-quarter-fiscal-2024-financial-results" rel="noreferrer noopener">consensus of $4.73 billion</a>.
The company&#8217;s medical segment reported a 3.5% growth to $2.23 billion, and its interventional business grew by 5.2% to $1.19 billion. Life sciences revenue declined 1% to $1.29 billion.&nbsp;
Guidance:&nbsp;BD expects fiscal year 2024 revenues of approximately $20.2 billion-$20.4 billion versus the consensus of $20.2 billion and prior guidance of $20.1 billion-$20.3 billion.
The guidance includes organic revenue growth of 5.5%-6.25% versus prior guidance of 5.25%-6.25%.
Total currency-neutral revenue growth is now expected to be 4.75% to 5.5% compared to&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/23/11/35701077/why-is-medical-device-giant-becton-dickinson-stock-trading-lower-today" rel="noreferrer noopener">4.5% to 5.5% previously</a>.
The company sees 2024 adjusted EPS of $12.82-$13.06 versus prior guidance of $12.70-$13.00 versus the consensus of $12.84.
William Blair&nbsp;maintains a positive outlook on BD&#8217;s long-term prospects, expressing confidence in its progress toward meeting its BD 2025 goals, particularly in expanding operating margins.&nbsp;
The expectation is that BD should be able to drive margins higher throughout this year and exit fiscal 2024 on track to achieving said 2025 target of 25%. Despite shares trading at 19 times fiscal 2024 revenue, slightly below the three-year average of 20 times the next twelve months (NTM) earnings, William Blair rates the&nbsp;<a target="_blank" href="https://www.benzinga.com/quote/BDX/analyst-ratings" rel="noreferrer noopener">shares as Outperform</a>.
Price Action: BDX shares are up 1.01% at $241.23 on the last check Thursday.

Analyst Color

Guidance

Reiteration

Medical Device Maker Becton Dickinson's Q1 Earnings: Here's Why This Analyst Is Bullish On Long-Term Prospects

BD Raises FY24 Adj. EPS Guidance From $12.70-$13.00 To $12.82-$13.06 vs $12.84 Est.; Raises FY24 Revenue Guidance From $20.1B-$20.3B To $20.2B-$20.4B vs $20.2B Est.

BD Raises FY24 Guidance

Becton, Dickinson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BDX#NYSE">BDX</a>) reported quarterly earnings of $2.68 per share which beat the analyst consensus estimate of $2.40 by 11.67 percent. The company reported quarterly sales of $4.71 billion which missed the analyst consensus estimate of $4.73 billion by 0.55 percent. This is a 2.62 percent increase over sales of $4.59 billion the same period last year.

Earnings Beats

Earnings Misses

Becton, Dickinson Q1 2024 Adj EPS $2.68 Beats $2.40 Estimate, Sales $4.71B Miss $4.73B Estimate

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Earnings Scheduled For February 1, 2024

Becton, Dickinson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BDX#NYSE">BDX</a>) is set to give its latest quarterly earnings report on Thursday, 2024-02-01. Here's what investors need to know before the announcement.
Analysts estimate that Becton, Dickinson will report an earnings per share (EPS) of $2.40. 
Becton, Dickinson bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Historical Earnings Performance</h3>
Last quarter the company missed EPS by $0.01, which was followed by a 1.04% increase in the share price the next day.
Here's a look at Becton, Dickinson's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>3.43</td>
<td>2.91</td>
<td>2.74</td>
<td>2.68</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>3.42</td>
<td>2.96</td>
<td>2.86</td>
<td>2.98</td>
</tr>
<tr>
<td>Price Change %</td>
<td>1.04%</td>
<td>0.78%</td>
<td>0.48%</td>
<td>-1.06%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1706713300_0.png" alt="eps graph" />
<a href="https://www.benzinga.com/quote/BDX/earnings">To track all earnings releases for Becton, Dickinson visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings Preview For Becton, Dickinson

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Looking for Dividend aristocrats trading at their 52-week lows? If so, you&rsquo;ve come to the right place.



Investing shouldn&rsquo;t always be about chasing high-flying stocks. Sometimes, the best picks can be those hiding in plain sight. A contrarian view might give you a once-in-a-decade opportunity to own a top-tier stock. I can&rsquo;t blame investors for rushing to the exit when stocks are in free fall. However, prudent investors know that downturns can be great opportunities to snag quality stocks at a bargain.&nbsp;



Dividend Aristocrats trading around their 52-week lows can be a good starting point. These companies have proven they can weather economic downturns with their steady income, stable business models, and strong foundations.&nbsp;



So, lower prices, high dividend payouts, and reliable increases equal great growth potential over the long term. Picking the right ones could offer you some of the best long-term returns that last until retirement.



The 52-week low, meanwhile, offers investors a snapshot of the stock&rsquo;s current support base &ndash; where other investors may flock to snap up shares at a discount.&nbsp;



With that in mind, let&rsquo;s look at three Dividend Aristocrats trading near their 52-week low and still showing signs of earnings stability or growth that could trigger a comeback shortly.



<h2>3 Dividend Aristocrats Trading at 52-Week Lows: Brown-Forman Corporation (BF.B)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/09/brown-forman-bf-b1600-300x169.png" alt="Person holding cellphone with logo of American spirits company Brown-Forman (BF-B) Corporation on screen in front of webpage. Focus on phone display. Unmodified photo."><div>Source: T. Schneider / Shutterstock.com</div></div>While it might not be a household name like other Dividend Aristocrats, Brown-Forman Corporation (NYSE:<a href="https://investorplace.com/stock-quotes/bf.b-stock-quote/">BF.B</a>) owns some of the most beloved beverage alcohol brands in the market.&nbsp;



The company manufactures, exports, imports, and sells trademarked alcohol brands like Jack Daniels, Woodford Reserve, and Old Forester. Its strong portfolio of premium brands, such as Jack Daniels, gives it a strong position in the premium end of the alcohol market.&nbsp;



Brown-Forman&rsquo;s <a href="https://investors.brown-forman.com/investors/news-releases/press-release/2024/Brown-Forman-Reports-Year-To-Date-Fiscal-2024-Results-Updates-Full-Year-Outlook/default.aspx">Q3&rsquo;24 report</a> pointed to a 1% decrease in YOY net sales. Despite this, its operating income surged by 116%. Diluted earnings per share also increased by 189%, highlighting the strength of its portfolio despite market challenges.&nbsp;



President and CEO Lawson Whiting highlighted Brown-Forman&rsquo;s resilience and agility despite industry uncertainties, emphasizing its gross margin expansion and continued investment in the business.&nbsp;



The company recently registered another 52-week low, allowing investors to buy this Dividend Aristocrat at a steep discount. Brown-Forman pays an <a href="https://www.brown-forman.com/article/brown-forman-increases-cash-dividend-40th-consecutive-year-november-16-2023">87-cent</a> annual dividend, reflecting a 1.67% yield.&nbsp;



While there is no sign of a bottom, its growing net income, strong premium portfolio, and regularly increasing dividends are enough to keep tabs on Brown-Forman.



<h2>Johnson &amp; Johnson (JNJ)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/10/jnj1600c-300x169.jpg" alt="A red Johnson &amp; Johnson (JNJ) sign hangs inside in Moscow, Russia."><div>Source: Alexander Tolstykh / Shutterstock.com</div></div>The largest healthcare company, Johnson and Johnson (NYSE:<a href="https://investorplace.com/stock-quotes/jnj-stock-quote/">JNJ</a>) is a global brand known for Band-Aid, Listerine, Immodium, and other household products. The company mainly operates in two main segments:



<ol><li>MedTech: this includes its broad portfolio of products used in surgery, vision fields, and interventional solutions.&nbsp;</li>



<li>Innovative Medicine: specializes in neuroscience, infectious diseases, oncology, and various diseases.</li>
</ol>In terms of growth, the company recently acquired <a href="https://www.investor.jnj.com/news/news-details/2024/Johnson--Johnson-Completes-Acquisition-of-Ambrx/default.aspx">Ambrx Biopharma</a>, which will help it enhance its next-generation antibody-drug conjugates.



JNJ stock is on track to retest its 52-week low after carving out a bottom at around <a href="https://www.nasdaq.com/market-activity/stocks/jnj/advanced-charting">$145.00</a> area. It&rsquo;s currently retesting its immediate low around the $155.00 mark.&nbsp;



Meanwhile, on the financial side, the company&rsquo;s <a href="https://www.investor.jnj.com/news/news-details/2024/Johnson--Johnson-Reports-Q4-and-Full-Year-2023-Results/default.aspx">FY&rsquo;23 sales increased 6.5%</a> YOY, and adjusted diluted EPS was 11.1% higher. Guidance for 2024 also looks rosy, with the company expecting all relevant metrics to grow by mid- to high-single digits.&nbsp;



As for dividends, the company <a href="https://www.investor.jnj.com/news/news-details/2024/Johnson--Johnson-Announces-Quarterly-Dividend-for-First-Quarter-2024/default.aspx">announced a $1.19 quarterly payout for 2024</a>, amounting to $4.76 or an attractive 3% yield. As one of the Dividend Aristocrats trading at 52-week lows, Johnson &amp; Johnson is a strong value proposition for long-term investors with its current price action and growth numbers.&nbsp;



<h2>Becton, Dickinson and Company (BDX)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/10/droplet-test-tube-biotech-1600-3-300x169.jpg" alt="Photo of test tubes and droplet with purple and reddish-orange sunset visual effect, representing biotech"><div>Source: shutterstock.com/Romix Image</div></div>Commonly referred to as BD, Becton, Dickinson and Company (NYSE:<a href="https://investorplace.com/stock-quotes/bdx-stock-quote/">BDX</a>) is a medical technology company that manufactures and sells lab equipment, medical devices, and supplies. Its segments include:



<ol><li>BD Medical: includes pharmaceutical systems, medication management, and delivery solutions.</li>



<li>BD Life Sciences: offers reagent systems, diagnostic specimen collection, and more.&nbsp;</li>



<li>BD Interventional: covers the company&rsquo;s surgical, oncology, and urology products.</li>
</ol>The company recently announced plans to <a href="https://news.bd.com/2024-03-21-BD-Increases-Domestic-Production-to-Support-U-S-Health-Care-Need-for-Syringes">increase its domestic syringe production</a> to support the growing demand for syringes in United States patient care. It has also <a href="https://news.bd.com/2024-01-30-BD,-Techcyte-Announce-Strategic-Collaboration-to-Offer-AI-Based-Digital-Cervical-Cytology-System-for-Pap-Testing">partnered with Techcyte</a> to offer an AI-based digital cervical cytology system for Pap Testing.



BDX stock has been trading in a narrow range after hitting a bottom at <a href="https://www.nasdaq.com/market-activity/stocks/bdx/advanced-charting">$229.85</a>. This trading range gives investors time to accumulate BDX for their long-term portfolio.&nbsp;



The good news doesn&rsquo;t stop there. If we review its <a href="https://news.bd.com/2024-02-01-BD-Reports-First-Quarter-Fiscal-2024-Financial-Results">Q1&rsquo;24 financials</a>, we can see that the company also reported 2.6% YOY revenue growth.&nbsp;



Due to that positive result, management upped the forecasted full-year organic revenue growth from 5.25% to 6.25% to 5.5% to 6.25%. In addition, EPS growth is expected to hit 5% to 7%, highlighting the company&rsquo;s resilience and potentially a value pick now that it&rsquo;s trading at lower levels.



The company also <a href="https://investors.bd.com/news-events/press-releases/detail/801/bd-board-increases-dividend-for-52nd-consecutive-year">raised dividends for FY2024 to $3.80</a>, translating to a 1.53% yield. This marks its 52nd consecutive year of increased payouts.&nbsp;This makes BD one of the more attractive cheap Dividend Aristocrats right now. 



On the date of publication, Rick Orford did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.
<div>Rick Orford is a Wall Street Journal best-selling author, investor, influencer, and mentor. His work has appeared in the most authoritative publications, including Good Morning America, Washington Post, Yahoo Finance, MSN, Business Insider, NBC, FOX, CBS, and ABC News.</div><h3>More From InvestorPlace</h3>
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