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Becton Dickinson: strong data, cautious outlook

Becton Dickinson: strong data, cautious outlook

16 November 2022

The American manufacturer of equipment for the medical sector and consumables, Becton Dickinson, reported for the IV fiscal quarter of 2022, which ended in September.

There are both impressive moments and aspects that are worth paying attention to as a precaution.

Strengths of reporting:

  • revenue -1.0% YoY to $4.8billion, but above expectations;
  • adjusted net income of $2.75 per share, above forecasts;
  • the amount of dividends has been increased.

Nuances that may further matter:

  • the company expects a sharp decline in sales of COVID-19 tests in fiscal year 2023 (it has already started), as it expects the testing market to narrow amid a decrease in the number of diseases;
  • the disease is becoming endemic, which may give Becton Dickinson grounds for better development if the company finds a niche.

Becton Dickinson starts its fiscal year ahead of competitors – Abbott and Thermo Fisher – and reduces revenue expectations from the sale of tests to $125 million from $175 million for the fiscal year 2022. In fiscal year 2021, test sales brought the company $511 million.

In general, Becton Dickinson’s positions look quite strong.

At the moment, the consensus forecast for the company’s shares assumes a mark of $300 by June 2023.
On the daily trading chart of Becton Dickinson shares, the MACD indicator is growing in the negative zone and forms a buy signal. The Stochastic oscillator remains in the positive zone and holds the buy signal in force.

16 November 2022
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