Becton, Dickinson and Company's Stock Analysis

Becton Dickinson Reports Q4 and FY2025 Financial Results

Becton Dickinson and Company reported a fourth-quarter revenue of $5.9 billion, marking an 8.3% increase compared to the previous year. The company achieved a GAAP diluted earnings per share (EPS) of $1.72 and an adjusted diluted EPS of $3.96. For the full fiscal year 2025, total revenue reached $21.8 billion, an 8.2% increase, while GAAP EPS slightly decreased to $5.82. Adjusted diluted EPS grew by 9.6% to $14.40, with gross margins improving in both GAAP and adjusted terms.

The company returned $2.2 billion to shareholders through dividends and share repurchases in FY25. Becton Dickinson also announced plans to complete the combination of its Biosciences and Diagnostic Solutions business with Waters Corporation by early 2026. The company highlighted various business initiatives, including the launch of new AI-enabled solutions in its Medication Management Solutions unit and significant growth across its Urology and Critical Care segment. Additionally, it provided guidance for fiscal year 2026, indicating expectations for continued growth.

Nov 06, 2025 06:32:28

Becton Dickinson Announces CFO Departure and Revenue Growth

Becton, Dickinson and Company reported preliminary unaudited revenue results for the fourth quarter and full fiscal year ending September 30, 2025. The company anticipates fourth-quarter revenue of approximately $5.9 billion, reflecting an estimated increase of 8.3% on a reported basis. For the full fiscal year, preliminary revenue is approximately $21.8 billion, representing an increase of 8.2% on a reported basis. The company noted growth in several segments, despite challenges in specific areas such as Pharmaceutical Systems and Biosciences.

Additionally, the company announced the resignation of Christopher J. DelOrefice, the Executive Vice President and Chief Financial Officer, effective December 5, 2025. Vitor Roque, currently the Senior Vice President of Finance, will serve as the interim CFO following DelOrefice's departure. The company is actively searching for a permanent CFO. The transition aims to ensure continuity in financial leadership as the company continues to pursue its strategic goals.

Oct 15, 2025 16:18:58

Becton Dickinson Secures $2.75 Billion Revolving Credit Facility

Becton, Dickinson and Company has entered into a new credit agreement with Citibank, providing a senior unsecured revolving credit facility worth $2.75 billion. This facility includes a $100 million letter of credit subfacility and a $236 million swingline loan subfacility, with a potential increase to a maximum of $3.25 billion. The agreement is set to expire in September 2030, with options for two one-year extensions, and allows for general corporate financing needs.

The credit agreement includes financial covenants that require the company to maintain a leverage ratio of no more than 4.25:1.00, or 4.75:1.00 for five fiscal quarters following a significant acquisition. Additionally, it outlines customary representations, covenants, and events of default, which could lead to accelerated loan repayments if certain conditions are not met. The company guarantees the obligations of other borrowers under this agreement.

Sep 17, 2025 20:46:05

Becton Dickinson Reports Third Quarter 2025 Financial Results

Becton, Dickinson and Company reported third quarter fiscal 2025 revenues of $5.5 billion, reflecting a 10.4% increase compared to the prior year, with organic growth at 3.0%. Both GAAP and adjusted diluted earnings per share (EPS) rose to $2.00 and $3.68, respectively. The company also reported improvements in gross margin and operating income, with GAAP margins increasing by 160 basis points and operating income up by 46.6%. Additionally, Becton Dickinson raised its full-year adjusted EPS guidance to a range of $14.30 to $14.45, indicating a growth of 9.4% at the midpoint.

The company announced a definitive agreement to combine its Biosciences and Diagnostic Solutions business with Waters Corporation, aimed at creating a leader in life sciences and diagnostics. Becton Dickinson plans to invest $35 million in its Nebraska facility to enhance production capabilities for its PosiFlush™ Prefilled Flush Syringe. The report highlighted various business unit performances, including strong growth in Medication Delivery Solutions and double-digit growth in the Interventional segment. The company also submitted an FDA application for a new at-home HPV test and received clearance for a rapid COVID-19 test.

Aug 07, 2025 06:33:15

Becton Dickinson Announces $4 Billion Spin-Off and Merger Deal

Becton Dickinson and Company has entered into definitive agreements with Waters Corporation to combine its Biosciences and Diagnostic Solutions business with Waters in a Reverse Morris Trust transaction. As part of this deal, Becton Dickinson will receive approximately $4 billion in cash, and its shareholders will own 39.2% of the outstanding Waters common stock after the transaction is completed. The transaction has received unanimous approval from the Boards of Directors of both companies and involves a series of agreements to facilitate the separation and merger processes.

The transaction is contingent upon various conditions, including regulatory approvals and the satisfaction of closing conditions outlined in the agreements. The Merger Agreement stipulates that following the spin-off, the newly formed entity will merge with Waters, with shareholders of SpinCo receiving shares of Waters common stock. The agreement also includes provisions for adjusting the exchange ratio to meet tax requirements and outlines the governance structure of the new combined entity. A termination fee of $733 million is specified should the merger not be completed under certain circumstances.

Jul 14, 2025 17:05:59

Becton Dickinson and Waters Announce $17.5 Billion Merger

Becton, Dickinson and Company (BD) and Waters Corporation have entered into definitive agreements to combine BD's Biosciences and Diagnostic Solutions business with Waters in a Reverse Morris Trust transaction valued at approximately $17.5 billion. This merger is expected to create a leading life science and diagnostics company, enhancing both firms' market reach and operational capabilities. BD shareholders will own about 39.2% of the combined entity, while Waters shareholders will hold approximately 60.8%. BD is set to receive a cash distribution of around $4 billion as part of the transaction.

The merger has been unanimously approved by the boards of both companies and is anticipated to close by the end of the first quarter of 2026, pending regulatory approvals and other customary conditions. Udit Batra, current CEO of Waters, will lead the new company, which will continue to operate under the Waters name. BD's Biosciences and Diagnostic Solutions business is projected to generate approximately $3.4 billion in revenue and $925 million in adjusted EBITDA for the year 2025, indicating a significant contribution to the combined entity's financial performance.

Jul 14, 2025 06:20:51

Becton, Dickinson Settles Stockholder Derivative Litigation

Becton, Dickinson and Company has reached a proposed settlement in a stockholder derivative litigation involving allegations against certain individual defendants for breaches of fiduciary duties. If approved by the court, the settlement would resolve all claims related to the Consolidated Federal Derivative Action and dismiss the case with prejudice, meaning current stockholders will be barred from contesting the settlement or pursuing related claims in the future. A Settlement Hearing is scheduled for August 11, 2025, to determine the fairness of the settlement terms.

The litigation stems from claims that the defendants made false statements regarding software defects in the Alaris infusion pump system, which allegedly inflated the company's stock price and resulted in legal liabilities. The proposed settlement includes a monetary component funded by the company’s directors' and officers' insurance, along with certain corporate governance modifications. The court has not made any findings regarding the merits of the case, and current stockholders have the right to object to the settlement before the hearing date.

Jun 16, 2025 16:32:00

BD Reports Q4 Revenue of $5.4 Billion with 6.9% Growth

BD reported a fourth quarter revenue of $5.4 billion, marking a 6.9% increase from the previous year, with notable growth in GAAP and adjusted diluted earnings per share (EPS) of $1.45 and $3.81, respectively. The company also highlighted a significant rise in cash flow from continuing operations, which grew by 28.5% to $3.8 billion, and free cash flow, which increased by 47.4% to $3.1 billion. The acquisition of Edwards Lifesciences' Critical Care product group was mentioned as a strategic move to enhance their portfolio in high-growth areas, alongside various product launches and approvals in BD Life Sciences and BD Medical segments. Additionally, BD was recognized for its workplace inclusivity and corporate citizenship efforts.

On the downside, the company faced challenges in the BD Life Sciences segment due to lower market demand for research instruments, which was partially offset by growth in clinical solutions. There were also expected declines in revenues from China and certain market dynamics affecting the Biosciences and Pharmaceutical sectors. The Medication Management Solutions experienced a decline in Dispensing Solutions compared to the prior year, and the performance in the Interventional segment was impacted by a tough comparison from the previous year in Advanced Repair & Reconstruction. Overall, while BD showed strong financial results, it also navigated some market pressures and challenges in specific segments.

Nov 07, 2024 06:37:15

BD Settles Majority of Hernia Litigation Without Liability Admission

BD has successfully reached an agreement to settle most of its hernia litigation, aiming to reduce uncertainty for all involved parties. The settlement amount is covered by the company's existing reserves and will be disbursed over several years, ensuring that it does not impact BD's financial goals or capital strategies. Importantly, the company maintains its stance of no admission of liability or wrongdoing, continuing to defend itself in unresolved cases while prioritizing patient safety and product quality.

This resolution addresses a significant portion of BD's product litigation reserve, which is a positive step for the company as it allows for better financial planning and stability. The structured payment plan was anticipated as part of BD's cash flow management, indicating that the company is taking proactive measures to handle its litigation challenges without adverse effects on its overall financial health.

Oct 02, 2024 17:03:34

BD Reports Strong Q3 Results and Increased Earnings Guidance

BD announced strong financial results for Q3 2024, with revenue reaching $5.0 billion and significant growth in earnings per share. Cash flow from operations surged by 60%, indicating solid financial health. The company raised its revenue and earnings guidance for the fiscal year, reflecting confidence in continued growth. CEO Tom Polen highlighted the positive transformation of BD into a leading medical technology company.

Aug 01, 2024 06:32:40