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Becton Dickinson
(NYSE:BDX)
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Rating:64Neutral
Price Target:
$169.00
▲(6.60% Upside)
Action:Reiterated
Date:05/13/26
The score is driven by solid financial quality—especially strong free cash flow and improving leverage—plus supportive earnings-call guidance with raised adjusted EPS. These positives are tempered by weak technicals (price below key moving averages with negative MACD) and a less helpful valuation signal due to a negative P/E, alongside near-term operational headwinds (tariffs, China, and a temporary FDA-related shipment hold).
Positive Factors
Recurring consumables business
BD's business mixes high-volume disposable consumables with installed capital, creating durable pull-through demand. That recurring revenue base supports predictable cash flow, customer stickiness via installed platforms, and resilience versus cyclical procedure volume swings.
Negative Factors
Regulatory/manufacturing overhang (FDA)
An FDA warning and shipment hold expose supply reliability and compliance gaps at a core antiseptic facility. Remediation can require sustained CAPEX, recurring testing, and process changes, creating lasting operational risks and potential customer trust damage if systemic issues are identified.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring consumables business
BD's business mixes high-volume disposable consumables with installed capital, creating durable pull-through demand. That recurring revenue base supports predictable cash flow, customer stickiness via installed platforms, and resilience versus cyclical procedure volume swings.
Read all positive factors
Becton Dickinson Key Performance Indicators (KPIs)
Any
Revenue by Geography
Shows how Becton Dickinson’s sales are split across regions (U.S., Europe, Asia, etc.), revealing where revenue and growth are concentrated, which markets expose the company to regulatory or reimbursement risks, and how sensitive results are to currency swings.
Shows how Becton Dickinson’s sales are split across regions (U.S., Europe, Asia, etc.), revealing where revenue and growth are concentrated, which markets expose the company to regulatory or reimbursement risks, and how sensitive results are to currency swings.
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The Fly
The FlyBecton Dickinson (BDX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$43.56B
Dividend Yield2.13%
Average Volume (3M)2.74M
Price to Earnings (P/E)40.0
Beta (1Y)0.32
Revenue Growth2.39%
EPS Growth-24.85%
CountryUS
Employees70,000
SectorHealthcare
Sector Strength45
IndustryMedical - Instruments & Supplies
Share Statistics
EPS (TTM)3.95
Shares Outstanding275,540,440
10 Day Avg. Volume2,399,549
30 Day Avg. Volume2,740,141
Financial Highlights & Ratios
PEG Ratio-37.04
Price to Book (P/B)1.66
Price to Sales (P/S)1.93
P/FCF Ratio15.80
Enterprise Value/Market Cap1.56
Enterprise Value/Revenue3.17
Enterprise Value/Gross Profit6.82
Enterprise Value/Ebitda14.47
Forecast
1Y Price Target
$177.00Price Target Upside11.64% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering9
EPS Forecast (FY)12.59
Revenue Forecast (FY)$19.20B
Becton Dickinson Business Overview & Revenue Model
Company Description
Operating globally, Becton, Dickinson and Company (BD) is a prominent enterprise focused on the development, manufacturing, and distribution of a broad spectrum of medical technology. This includes essential medical supplies, sophisticated devices...
How the Company Makes Money
BD primarily makes money by selling medical devices, consumables, and related systems to healthcare providers (e.g., hospitals and clinics), laboratories, and other healthcare customers worldwide. Its revenue model is largely a mix of (1) recurrin...
Becton Dickinson Earnings Call Summary
Earnings Call Date:May 07, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Jul 30, 2026
Earnings Call Sentiment Positive
The call emphasized broad-based operational and commercial execution with revenue growth, margin resilience, strong cash generation and an increased full-year adjusted EPS outlook. Several high-growth platforms delivered double-digit growth and BD Excellence drove meaningful productivity and quicker product launches. Notable near-term headwinds include Alaris' upgrade-cycle comparisons, weaker vaccine demand, China market dynamics, tariff-related margin pressure, a $450 million noncash impairment, and a temporary ship hold following an FDA warning letter. Overall, positive operational momentum and capital returns outweighed the focused and disclosed challenges, giving confidence in the New BD strategy while acknowledging short-term risks.Positive Updates
Revenue Growth and Top-Line Performance
Q2 revenue of $4.7 billion, up 2.6% year-over-year (FX-neutral). Management reaffirmed full-year revenue guidance of low single-digit growth and expects H2 growth to be roughly similar to H1.
Negative Updates
Alaris Headwind and Upgrade Cycle Lapping
Alaris remains a known headwind: management indicated ~100 basis points of Alaris-related revenue headwind this fiscal year and expects it to increase to ~200 basis points in FY27 due to tougher year-over-year comparisons tied to a prior remediation-driven upgrade cycle.
Read all updates
Q2-2026 Updates
Positive
Negative
Revenue Growth and Top-Line Performance
Q2 revenue of $4.7 billion, up 2.6% year-over-year (FX-neutral). Management reaffirmed full-year revenue guidance of low single-digit growth and expects H2 growth to be roughly similar to H1.
Read all positive updates
Company Guidance
BD reaffirmed full-year revenue guidance of low single-digit growth and said second-half revenue should be roughly similar to the first half, with currency expected to be a ~120 basis‑point tailwind; it raised full‑year adjusted EPS to $12.52–$12.72 and expects adjusted operating margin of ~25% (inclusive of tariffs) and an adjusted effective tax rate of 16–17%. In Q2 BD reported $4.7B revenue (+2.6% YoY), adjusted EPS $2.90 (+3.9%), adjusted gross margin 54.7% (down 90 bps, including +70 bps from productivity/mix and -160 bps from tariffs) and adjusted operating margin 24.2% (down 110 bps); adjusted EPS excludes ≈$450M of noncash impairment charges. Year‑to‑date free cash flow was $1.1B, BD returned ~$2.3B to shareholders in the quarter (including $2.0B repurchases and $0.3B dividends), retired $2.1B of debt, ended the quarter at ~2.9x net leverage (targeting 2.5x long‑term), and cited BD Excellence productivity of ~8% in Q2 plus progress on a $200M cost‑out program with $150M run rate already delivered.Becton Dickinson Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
68
Positive
Cash Flow
74
Positive
| Breakdown | TTM | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 21.36B | 21.84B | 20.18B | 19.37B | 18.87B | 19.13B |
| Gross Profit | 9.93B | 9.92B | 9.13B | 8.17B | 8.48B | 8.63B |
| EBITDA | 4.68B | 4.96B | 4.82B | 4.40B | 4.41B | 4.39B |
| Net Income | 1.14B | 1.68B | 1.71B | 1.48B | 1.78B | 2.09B |
Balance Sheet | ||||||
| Total Assets | 50.83B | 55.33B | 57.29B | 52.78B | 52.93B | 53.88B |
| Cash, Cash Equivalents and Short-Term Investments | 816.00M | 859.00M | 2.30B | 1.42B | 1.17B | 2.40B |
| Total Debt | 17.28B | 19.18B | 21.59B | 16.82B | 16.95B | 18.42B |
| Total Liabilities | 26.70B | 29.94B | 31.40B | 26.98B | 27.65B | 30.20B |
| Stockholders Equity | 24.13B | 25.39B | 25.89B | 25.80B | 25.28B | 23.68B |
Cash Flow | ||||||
| Free Cash Flow | 3.14B | 2.67B | 3.07B | 2.12B | 1.66B | 3.42B |
| Operating Cash Flow | 3.90B | 3.43B | 3.80B | 2.99B | 2.63B | 4.65B |
| Investing Cash Flow | -1.15B | -818.00M | -5.51B | -716.00M | -3.23B | -1.88B |
| Financing Cash Flow | -2.37B | -3.62B | 2.09B | -1.96B | -591.00M | -3.31B |
Becton Dickinson Technical Analysis
Positive
158.54
Price Trends
147.32
Positive
155.23
Positive
152.31
Positive
Market Momentum
1.95
Negative
63.47
Neutral
79.88
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BDX, the sentiment is Positive. The current price of 158.54 is above the 20-day moving average (MA) of 148.72, above the 50-day MA of 147.32, and above the 200-day MA of 152.31, indicating a bullish trend. The MACD of 1.95 indicates Negative momentum. The RSI at 63.47 is Neutral, neither overbought nor oversold. The STOCH value of 79.88 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BDX.
Becton Dickinson Risk Analysis
Becton Dickinson disclosed 25 risk factors in its most recent earnings report. Becton Dickinson reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Becton Dickinson Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | $25.84B | 48.64 | 17.87% | 0.32% | 11.24% | 17.11% | |
75 Outperform | $150.88B | 50.90 | 17.01% | ― | 21.43% | 20.38% | |
73 Outperform | $30.41B | 20.20 | 24.41% | 0.92% | 10.28% | 16.40% | |
64 Neutral | $43.56B | 40.02 | 4.54% | 2.13% | 2.39% | -24.85% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | $11.70B | -10.79 | -16.43% | 2.75% | -4.79% | -78.01% |
* Healthcare Sector Average
BDX
Becton Dickinson
158.08
25.42
19.16%
BAX
Baxter International
22.65
-6.79
-23.06%
ISRG
Intuitive Surgical
426.01
-108.70
-20.33%
RMD
Resmed
209.63
-44.29
-17.44%
WST
West Pharmaceutical Services
365.74
144.99
65.68%
Becton Dickinson Corporate Events
Business Operations and StrategyProduct-Related AnnouncementsRegulatory Filings and Compliance
BD Resumes ChloraPrep Shipments Amid Ongoing FDA Review
Neutral
May 29, 2026
On May 6, 2026, BD voluntarily placed its ChloraPrep and PurPrep antiseptic products on ship hold in the U.S. while it carried out additional final release testing, a move linked to an FDA Warning Letter issued for the company’s El Paso manu...
Business Operations and StrategyPrivate Placements and Financing
Becton Dickinson Issues New Euro Notes to Refinance Debt
Neutral
May 20, 2026
Becton, Dickinson and Company is a global medical technology firm focused on developing, manufacturing and selling medical devices, instrument systems and reagents. Through subsidiaries such as Becton Dickinson Euro Finance S.à r.l., the comp...
Business Operations and StrategyPrivate Placements and Financing
Becton Dickinson Announces €600 Million Senior Notes Offering
Positive
May 12, 2026
On May 11, 2026, Becton, Dickinson and Company and its Luxembourg-based financing subsidiary entered into an underwriting agreement for a €600 million offering of 3.855% notes due 2033, which will be fully and unconditionally guaranteed on a...
Business Operations and StrategyExecutive/Board Changes
Becton Dickinson announces planned interventional segment leadership transition
Neutral
Apr 9, 2026
Becton, Dickinson and Company announced that Richard E. Byrd, executive vice president and president of its Interventional segment, informed the company on April 6, 2026, of his intention to retire. Byrd will remain in his role through June 2026, ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.