Becton, Dickinson Delivers In-Line 1Q Results; Shares Trading Near Our FVE
Becton, Dickinson and Co. reported in-line first fiscal quarter results, with revenue up 5.4%, or 3.7% on a currency-neutral basis (including an estimated 110-basis-point adverse impact from the change in the U.S. dispensing business model). We're maintaining our $225 per share fair value estimate and narrow moat rating.All areas in the medical segment delivered positive growth, with the exception of medication management solutions, which was adversely affected by the U.S. dispensing revenue re...
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