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BD Completes Biosciences Spin-Off and Waters Combination

Story Highlights
  • BD completed the $18.8 billion spin-off and combination of its Biosciences & Diagnostic Solutions unit with Waters, giving BD shareholders a sizable stake in the new combined company.
  • BD received $4 billion in cash from the transaction, plans near-term share buybacks and debt reduction, and solidified its shift into a more focused pure-play medtech business with board changes.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
BD Completes Biosciences Spin-Off and Waters Combination

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Becton Dickinson ( (BDX) ) has shared an announcement.

On February 9, 2026, BD announced it had completed the spin-off of its Biosciences & Diagnostic Solutions business and its combination with Waters Corporation, valuing the divested unit at $18.8 billion and giving BD shareholders a 39.2% stake in the combined company. BD, Waters and the spun-off entity also signed tax, employee, intellectual property and transition services agreements to govern ongoing relationships and ensure operational continuity.

In connection with the deal, BD received a $4 billion cash distribution from the spin-off on February 6, 2026, which it plans to deploy roughly equally between an accelerated share repurchase program and debt reduction. The transaction finalizes BD’s BD 2025 portfolio strategy, sharpens its positioning as a focused medtech player, and triggers governance changes including the resignation of director Claire M. Fraser from BD’s board and her appointment to Waters’ board.

The most recent analyst rating on (BDX) stock is a Buy with a $242.00 price target. To see the full list of analyst forecasts on Becton Dickinson stock, see the BDX Stock Forecast page.

Spark’s Take on BDX Stock

According to Spark, TipRanks’ AI Analyst, BDX is a Neutral.

BDX scores as a mid-to-upper tier setup driven primarily by steady (but not pristine) financial performance and strong technical trend confirmation. The main constraints on the score are an expensive valuation and a mixed earnings-call outlook where tariff and China-related pressures temper otherwise solid execution and capital deployment plans.

To see Spark’s full report on BDX stock, click here.

More about Becton Dickinson

BD (Becton, Dickinson and Company) is one of the world’s largest pure-play medical technology companies, focusing on medical essentials, connected care, biopharma systems and interventional products. The company develops technologies, services and solutions that support frontline healthcare providers, optimizing clinical operations and improving patient care across global markets.

Operating in more than 60 countries with over 60,000 employees, BD delivers billions of medical products annually and works closely with healthcare customers to enhance outcomes, lower costs, improve safety and expand access to care. Its portfolio is concentrated in high-recurring consumables and leading positions across most of the markets it serves.

Average Trading Volume: 2,056,348

Technical Sentiment Signal: Buy

Current Market Cap: $59.84B

For detailed information about BDX stock, go to TipRanks’ Stock Analysis page.

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