On May 6, we retained
Becton, Dickinson and Company
) at Neutral based on the performance of the company in fiscal
second quarter 2013.
Why the Retention?
On May 2, Becton Dickinson announced results for the reported
quarter. The company reported adjusted earnings per share from
continuing operations of $1.44, beating the Zacks Consensus
Estimate of $1.35 per share.
Becton Dickinson recorded second-quarter revenues of $2,000.4
million, up 3.7% (up 4.1% in constant currency) year over year,
sailing past the Zacks Consensus Estimate of $1,986 million.
On a geographic basis, domestic revenues (contributing 41.2%
in the second quarter) inched up 0.3% year over year to $823.6
million while overseas revenues increased 6.2% (up 6.9% in
constant currency) to $1,176.8 million.
Domestic revenues were negatively affected by the timing of
orders while international revenues were boosted by growth in the
emerging nations and robust growth of safety engineered products.
Revenues from emerging markets accounted for about 23% of sales
in the second quarter of fiscal 2013 (growing at 13% in constant
currency year over year).
In March 2013, Becton Dickinson took over Cato Software
Solutions, a provider of composite medicinal safety offerings for
pharmaceutical medical preparations. Cato lays out an automated
system to cut down medication mistakes.
Following the release of the fiscal second quarter results,
the Zacks Consensus Estimate for fiscal 2013 has inched up (over
the last 7 days) by 2 cents to $5.73. The Zacks Consensus
Estimate for fiscal 2014 has remained stagnant at $6.23 during
the same timeframe.
Med-Tech Stocks That Warrant a Look
The stock carries a Zacks Rank #3 (Hold).
Heartware International Inc.
Intuitive Surgical, Inc.
) each carry a Zacks Rank #2 (Buy) and are expected to do
ACCURAY INC (ARAY): Free Stock Analysis
BECTON DICKINSO (BDX): Free Stock Analysis
HEARTWARE INTL (HTWR): Free Stock Analysis
INTUITIVE SURG (ISRG): Free Stock Analysis
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