Shares of medical technology major
Becton, Dickinson and Company
) reached a new 52-week high of $110.13 in mid-day trading
yesterday. Shares of the company closed at $109.24 on the same
day, representing a solid one-year return of 43.6%.
BDX has a market cap of $21.2 billion. Average volume of shares
traded over the last three months stood at approximately 663.9K.
Shares of Becton, Dickinson and Company started escalating
following its impressive fiscal fourth quarter results on Nov 5.
The recent announcement of expansion of its BD Accelerate rapid
delivery program to the biopharmaceutical injectable drug market
further bolstered investor confidence on the stock.
BDX posted adjusted earnings per share of $1.58 for the fourth
quarter of fiscal 2013, topping the Zacks Consensus Estimate of
$1.47 as well as the year-ago earnings of $1.42 by 11.3%.
Revenues in the quarter went up 6.8% to $2,101 million, also
exceeding the Zacks Consensus Estimate of $2,045 million. In
constant currency, revenues grew 7.2% in the quarter.
For fiscal 2013, adjusted earnings rose 10.8% to $5.95 per share
from $5.37 per share in the prior fiscal year. Yearly earnings
surpassed the Zacks Consensus Estimate of $5.75. Revenues in the
year rose 4.5% to $8,054 million.
For fiscal 2014, Becton Dickinson expects both reported and
constant currency revenue growth in the range of 4.0 to 5.0%. BDX
also anticipates adjusted earnings per share between $6.16 and
$6.22 for the year, which tally with the Zacks Consensus Estimate
of $6.21 and reflect a year-over-year growth of 3.5-4.5%.
In constant currency, adjusted earnings per share are anticipated
to grow between 8.5 and 9.5%, or between 9.0 and 10.0% excluding
the incremental impact of the medical device tax.
Expansion of BD Accelerate Program
BDX revealed that its rapid delivery program BD Accelerate has
been expanded to include the biopharmaceutical injectable drug
market with the BD Neopak Glass Prefillable Syringe system.
BD Accelerate is a make-to-stock program that will provide
delivery within two weeks of fully-validated BD syringe systems
and associated quality systems documentation to its
The program was launched in 2011 and aimed at offering quick
delivery of fully-validated syringe systems that are optimized
for biologics, vaccines and other parenteral medicines to the
company's pharmaceutical customers.
The BD Accelerate program is capable of producing and storing
large quantities of fully-validated syringe components. It
results in major reduction in lead time versus traditional
processes and helps customers to begin testing earlier in the
drug development process.
BDX currently carries a Zacks Rank #3 (Hold). Some better-ranked
stocks in the medical/dental supplies industry include
Align Technology Inc.
Merit Medical Systems, Inc.
). All of them carry a Zacks Rank #1 (Strong Buy).
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BECTON DICKINSO (BDX): Free Stock Analysis
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