Becton Dickinson: Wells Fargo maintains Equal-Weight, raises PT to $184 from $172.

Becton Dickinson: Wells Fargo maintains Equal-Weight, raises PT to $184 from $172.

Wells Fargo & Co has revised its price target on Becton Dickinson & Co (BDX) to $184 from $172, while maintaining an Equal-Weight rating [1]. This adjustment comes after the company's robust third-quarter earnings report, which exceeded analyst estimates.

Becton Dickinson reported a revenue of $5.5 billion, marking a 10.4% increase year-over-year, and an adjusted EPS of $3.68, surpassing the estimated $1.18 [2]. The company's gross margin improved by 160 basis points on a GAAP basis and 50 basis points on an adjusted basis, reflecting operational excellence. Operating income increased by 46.6% on a GAAP basis and 11.3% on an adjusted basis.

Wells Fargo's analyst, who covers BDX, noted the company's strong performance and strategic initiatives, such as the planned merger with Waters Corporation, as factors contributing to the price target adjustment. The analyst expects Becton Dickinson to continue delivering robust financial results, driven by its BD Excellence program and operational efficiencies.

The company's full-year adjusted EPS guidance was raised to $14.30 to $14.45, indicating a 9.4% growth at the midpoint [2]. This positive outlook aligns with Wells Fargo's revised price target and maintains the Equal-Weight rating.

References:
[1] https://www.marketscreener.com/news/jpmorgan-adjusts-price-target-on-becton-dickinson-and-company-to-190-from-185-maintains-neutral-ce7c5eddda8ff524
[2] https://www.gurufocus.com/news/3043821/becton-dickinson-co-surpasses-q3-estimates-with-55-billion-revenue-and-368-adjusted-eps