Medical technology company Becton, Dickinson and Company (NYSE: BDX) will be announcing earnings results tomorrow before market open. Here’s what to look for.
BD beat analysts’ revenue expectations by 1.1% last quarter, reporting revenues of $5.44 billion, up 6.9% year on year. It was a satisfactory quarter for the company, with full-year revenue guidance slightly topping analysts’ expectations but EPS in line with analysts’ estimates.
Is BD a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting BD’s revenue to grow 8.5% year on year to $5.10 billion, improving from the 2.6% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.99 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. BD has missed Wall Street’s revenue estimates three times over the last two years.
Looking at BD’s peers in the healthcare equipment and supplies segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Intuitive Surgical delivered year-on-year revenue growth of 25.2%, beating analysts’ expectations by 6.5%, and Boston Scientific reported revenues up 22.4%, topping estimates by 3.3%. Intuitive Surgical traded down 4% following the results.
Read our full analysis of Intuitive Surgical’s results here and Boston Scientific’s results here.
There has been positive sentiment among investors in the healthcare equipment and supplies segment, with share prices up 2.7% on average over the last month. BD is up 4.4% during the same time and is heading into earnings with an average analyst price target of $277.80 (compared to the current share price of $242.42).
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