Becton, Dickinson Delivers In-Line 2Q; Shares Trading Near Our FVE
Becton, Dickinson reported in-line fiscal second-quarter results, with revenue up 5.7% on a currency-neutral basis, including an estimated 80-basis-point adverse impact from the change in the U.S. dispensing business model. We're maintaining our $225 fair value estimate and narrow moat rating.All areas in the medical segment delivered good results, with the exception of medication management solutions, which was adversely affected by the U.S. dispensing revenue recognition change and a tough c...
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