Company Reports

Separation of the life sciences business is the final step in the course correction that Becton Dickinson has undertaken over the past few years. The company managed to get a very attractive price for this business, which we expect is the last portfolio optimization step it will take in the near future. Its focus is currently on the existing franchise and more-conservative capital allocation.

Becton Dickinson reported third-quarter fiscal 2026 results with sales up 5.4%. Management guided for sales growth toward the higher end of its initial range and raised the midpoint of its adjusted diluted EPS guidance to $12.62-$12.72, up from $12.52-$12.72.

Separation of the life sciences business is the final step in the course correction that Becton Dickinson has undertaken over the past few years. The company managed to get a very attractive price for this business, which we expect is the last portfolio optimization step it will take in the near future. Its focus is currently on the existing franchise and more-conservative capital allocation.

Becton Dickinson reported its second-quarter results and updated its earnings guidance. Shares were up slightly following the release.

After a tumultuous few years, Becton Dickinson is in the midst of a course correction. Alaris has returned to the market and recaptured most of its lost share, the pipeline has produced a number of successful products, the pharmaceutical business is capitalizing on attractive industry tailwinds, and the recently acquired Edwards patient monitoring business fits well with the core offering. The life sciences spinoff represents BD’s continued pursuit of portfolio optimization.

Becton Dickinson reported its first-quarter results and issued guidance on a postbiosciences basis. Shares were down slightly on Feb. 9.

Becton Dickinson reported its fourth-quarter earnings with revenue increasing modestly organically by 3%. The company's 2026 guidance was uninspiring, with headwinds in several segments. Shares were down by low single digits before the market opening.

The US Commerce Department has launched an investigation into the national security impacts of importing personal protective equipment, medical consumables, and medical devices. Various medical technology companies' shares were down by low to mid-single digits in Sept. 25 intraday trading.

Becton Dickinson reported its third-quarter earnings with revenue increasing organically by 3%, beating FactSet consensus. The company has raised its full-year earnings per share guidance to a range of $14.30-$14.45. Shares are up 9% on the news.

Waters and BD have agreed to combine BD's biosciences and diagnostics unit with Waters. BD will receive $4 billion in cash and a 39.2% stake in the combination. The deal is scheduled to close in the first quarter of 2026. In early trading, Waters shares were down 11% and BD's were down 1%.

After a tumultuous few years, Becton Dickinson is in the midst of a course correction. Alaris has returned to the market and recaptured most of its lost share, the pipeline has produced a number of successful products, the pharmaceutical business is capitalizing on attractive industry tailwinds, and the recently acquired Edwards patient monitoring business fits well with the core offering. The pending spinoff of the life sciences segment marks the next big step—a strategically reasonable yet ill-timed decision.

Becton Dickinson reported weak performance in its life sciences and diagnostics segment, leading to lower organic growth guidance for the full year. Shares are down midsingle digits on the news.

Becton Dickinson's announcement of a separation of its biosciences and diagnostics solutions business overshadows mediocre performance of the core business. Shares are slightly down on the news.

Activist investor Starboard Value has taken a position in Becton Dickinson, sending the shares up modestly on Feb. 3.

Becton, Dickinson delivered a strong finish to the year, with a 6% organic growth and 120 basis points of the operating margin improvement. We maintain our narrow moat rating and our fair value estimate. Shares are modestly undervalued.

After a tumultuous few years, Becton, Dickinson is undergoing a course correction. The covid-19 revenue windfall has been reinvested, which should lift the firm's core business growth in the coming years as testing revenue has faded. With Alaris returned to the market, the last remaining uncertainty has been resolved, although it is still to be seen whether the damage experienced by the franchise will be long-lasting or whether the infusion system can rapidly regain its market-leading share. The initial trajectory is encouraging.

We are maintaining our $325 fair value estimate for narrow-moat Becton Dickinson following its mixed third-quarter results. Shares are undervalued.

In a deal that makes sense for both sides, Becton Dickinson is buying Edwards' Critical Care business for $4.2 billion. We're maintaining our fair value estimates for both companies as the price tag doesn't appear excessive and the strategic fit and growth prospects for the business improve under the BD's umbrella.

After a tumultuous few years, Becton, Dickinson is undergoing course correction. The COVID-19 revenue windfall has been reinvested, which should lift the firm's core business growth in the upcoming years as the testing revenue fades. As Alaris has now returned to the market, the last remaining uncertainty has been resolved, although it is still to be seen whether the damage experienced by the franchise will be long-lasting or whether Alaris can regain its market-leading share rapidly.

We are maintaining our fair value estimate for narrow-moat Becton Dickinson following its first-quarter results. Shares are modestly undervalued.