Becton, Dickinson and Company
- Open
- 151.48
- Day high
- 152.90
- Day low
- 150.15
- Prev close
- 150.85
- Volume
- 809K
- Mkt cap
- $41.9B
- P/E (TTM)
- 38.5
- EPS (TTM)
- $3.95
- P/B
- 1.7
- P/S
- 2.0
- Yield
- 2.76%
- Per share
- $4.19
- ▼Insiders net selling -$765K over the last 3 months (0 open-market buys, 6 sales)
- 🏛Institutions mixed (13F)
Becton, Dickinson and Company (BDX) is a Healthcare company listed on NYSE. The stock is up 8% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 6 sales (SEC Form 4).
Becton, Dickinson and Company (BDX) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 6 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
BDX earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $2.78 | $2.90 | +4.3% | $4.7B | +0.9% |
| Nov 6, 2025 | $3.92 | $3.96 | +1.0% | $5.9B | -0.3% |
| Aug 7, 2025 | $3.40 | $3.68 | +8.2% | $5.5B | +0.4% |
| May 1, 2025 | $3.28 | $3.35 | +2.1% | $5.3B | -1.5% |
| Feb 5, 2025 | $3.00 | $3.43 | +14.3% | $5.2B | +1.3% |
| Nov 7, 2024 | $3.77 | $3.81 | +1.1% | $5.4B | +1.1% |
| Aug 1, 2024 | $3.31 | $3.50 | +5.7% | $5.0B | -1.7% |
| May 2, 2024 | $2.97 | $3.17 | +6.7% | $5.0B | +0.1% |
| Feb 1, 2024 | $2.40 | $2.68 | +11.7% | $4.7B | -0.6% |
| Nov 9, 2023 | $3.42 | $3.42 | +0.0% | $5.1B | +1.4% |
| Aug 3, 2023 | $2.89 | $2.96 | +2.4% | $4.9B | -3.1% |
| May 4, 2023 | $2.75 | $2.86 | +4.0% | $4.8B | +2.9% |
BDX insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 6, 2026 | Muhsin Bilalofficer: EVP & President Connected Care | Grant | 14,342 | — |
| Jul 6, 2026 | Muhsin Bilalofficer: EVP & President Connected Care | Tax | 1,935 | — |
| Jun 26, 2026 | Feld Michaelofficer: EVP, Chief Revenue Officer | Sell | 75 | $152.80 |
| Jun 25, 2026 | Garrison Michael Davidofficer: EVP & Pres Med.Essntl&BioPharm | Sell | 1,100 | $145.66 |
| Jun 11, 2026 | Garrison Michael Davidofficer: EVP & Pres Med.Essntl&BioPharm | Sell | 1,100 | $151.48 |
| Jun 3, 2026 | Polen Thomas E Jrdirector, officer: Chairman, CEO and President | Sell | 2,764 | $146.35 |
| Jun 3, 2026 | Polen Thomas E Jrdirector, officer: Chairman, CEO and President | Option | 20,209 | $126.16 |
| Jun 2, 2026 | Menziuso Peterofficer: EVP and President, BDI | Grant | 14,258 | — |
| May 27, 2026 | Feld Michaelofficer: EVP, Chief Revenue Officer | Sell | 75 | $147.35 |
| May 8, 2026 | Huffines Robert Lutherdirector | Grant | 210 | — |
| May 8, 2026 | Roque Vitorofficer: EVP & Chief Financial Officer | Grant | 1,721 | — |
| May 8, 2026 | Byington Carrie Ldirector | Grant | 105 | — |
| Apr 28, 2026 | Feld Michaelofficer: EVP, Chief Revenue Officer | Sell | 74 | $151.94 |
| Apr 6, 2026 | Neal Shana Carolofficer: EVP and Chief People Officer | Tax | 1,146 | — |
| Mar 27, 2026 | Feld Michaelofficer: EVP, Chief Revenue Officer | Sell | 75 | $156.83 |
Source: BDX SEC Form 4 filings, latest Jul 6, 2026. For informational purposes only — not investment advice.
See the full BDX insider & 13F page →Becton, Dickinson and Company company profile
Overview
Becton, Dickinson and Company (NYSE:BDX) is a leading global medical technology company founded in 1897 and headquartered in Franklin Lakes, New Jersey. The company has evolved from its origins as a thermometer manufacturer into one of the world's largest medical device and diagnostics companies, serving healthcare institutions, life science researchers, clinical laboratories, and pharmaceutical companies worldwide. BD went public in 1973 and has maintained a strong dividend track record, with 53 consecutive years of dividend increases as of 2024. The company is currently undergoing a strategic transformation, having announced plans to separate its Biosciences and Diagnostic Solutions business to create a more focused pure-play medical technology company.
Business
BD operates in the medical technology industry, developing, manufacturing, and selling medical supplies, devices, laboratory equipment, and diagnostic products. The company's products are essential components of healthcare delivery, from basic medical supplies like syringes and needles to sophisticated diagnostic equipment and drug delivery systems. The company operates through three primary business segments. BD Medical represents the largest segment, generating approximately 60% of total revenue, and focuses on medication management, pharmaceutical systems, and medical device solutions. This includes intravenous catheters, infusion systems like the BD Alaris pump, diabetes care products, prefillable drug delivery systems for biologics, and automated medication dispensing systems used in hospitals and pharmacies. BD Life Sciences accounts for roughly 25% of revenue and serves clinical laboratories and life science researchers. This segment provides specimen collection products (blood collection tubes, culture bottles), diagnostic testing equipment for infectious diseases and blood cultures, flow cytometry instruments for cell analysis, and various laboratory automation products. Flow cytometry is a laser-based technology that allows scientists to analyze individual cells, which is crucial for medical research, drug development, and clinical diagnostics. BD Interventional generates approximately 15% of revenue and focuses on surgical and procedural products. This includes hernia repair meshes, surgical instruments, peripheral intervention devices for treating blocked blood vessels, and specialized products like the PureWick system for urinary incontinence management. The segment serves hospitals, ambulatory surgery centers, and specialty clinics.
Revenue model
BD generates revenue primarily through product sales across its three business segments, with over 90% of revenue being recurring in nature due to the consumable nature of most medical supplies and the ongoing service requirements of its equipment. The BD Medical segment makes money by selling both durable medical equipment and high-volume consumables. Hospitals and healthcare systems purchase BD's infusion pumps, medication dispensing systems, and pharmacy automation equipment, then continuously buy consumable supplies like IV sets, syringes, and medication cartridges. The pharmaceutical systems business sells prefillable syringes and pen injectors to drug manufacturers, particularly for high-value biologic drugs and the rapidly growing GLP-1 diabetes/obesity medication market. BD Life Sciences operates on a similar razor-and-blade model, selling diagnostic instruments to laboratories and then providing ongoing revenue through reagents, test kits, and consumable supplies needed to run tests. Clinical laboratories, hospitals, and research institutions are the primary customers, with revenue tied to testing volumes and new instrument placements. The Interventional segment generates revenue through sales of surgical products and medical devices to hospitals and surgical centers. This includes both single-use items consumed during procedures and implantable devices like hernia mesh. Several factors influence BD's profitability margins. Positive margin drivers include the company's scale advantages in manufacturing, its strong market positions in essential medical products that face limited price pressure, the recurring nature of consumable sales, and ongoing productivity improvements through the BD Excellence operational program. The company also benefits from demographic trends driving increased healthcare utilization and the shift toward more sophisticated medical treatments. Negative margin pressures include raw material inflation, labor cost increases, regulatory compliance expenses, and competitive pricing pressure in some commodity-like products. Healthcare cost containment efforts by hospitals and government payers can limit pricing power. Currency fluctuations affect international operations, and potential tariffs on imported components represent an emerging cost pressure. Research funding reductions, particularly in China and for life sciences research, can impact instrument sales volumes.
Competitive moat
BD maintains a strong competitive moat built on several interconnected advantages. The company benefits from significant switching costs in healthcare settings, where medical professionals become trained on specific BD systems and hospitals standardize on particular product lines for safety and efficiency reasons. This is particularly evident in medication management systems, where switching infusion pumps or pharmacy automation requires extensive retraining and workflow changes. BD's regulatory moat is substantial, as medical devices require lengthy and expensive FDA approvals that create barriers to entry. The company's decades of regulatory experience and established relationships with regulatory bodies worldwide provide advantages over newer competitors. Its scale advantages in manufacturing and R&D allow BD to spread fixed costs across large volumes and invest in innovation that smaller competitors cannot match. The company also benefits from network effects in some product lines, where its installed base of connected medical devices generates valuable data and creates ecosystem lock-in. For example, BD's medication management platforms become more valuable as more devices are connected within a hospital system. However, BD's moat faces several challenges. In commodity-like products such as basic syringes and needles, price competition from lower-cost manufacturers, particularly from Asia, can erode margins. The rise of biosimilar drugs and generic alternatives in pharmaceutical systems could impact the high-margin biologics delivery business. Additionally, technological disruption from digital health companies and new diagnostic technologies could potentially displace traditional BD products, though the company is actively investing in connected care and AI-enabled devices to address this risk. Healthcare consolidation among BD's customers increases their bargaining power and can pressure pricing. Despite these challenges, BD's moat remains relatively strong due to the mission-critical nature of its products and the high costs of switching in healthcare environments.
Risks & safety
BD demonstrates a moderate margin of safety with some areas of concern around valuation and debt levels. **Debt and Solvency:** - Total debt-to-equity ratio of 0.76 indicates moderate leverage - Current ratio of 1.13 shows tight liquidity position - Free cash flow of $35 million in Q2 2025 represents a significant decline from $588 million in Q1 2025 - Strong operating cash flow generation historically ($3.8 billion in FY 2024) provides debt servicing capability - No immediate solvency concerns given the company's essential product portfolio **Valuation Metrics:** - P/E ratio of 54 appears elevated for a mature medical device company - EV/EBITDA of 39 suggests high valuation relative to earnings - Price-to-book ratio of 2.6 is reasonable for a quality healthcare company - Graham number analysis suggests potential overvaluation at current levels **Other Considerations:** - Strong recurring revenue base (over 90%) provides earnings stability - 53 consecutive years of dividend increases demonstrates financial discipline - Planned business separation may unlock value but adds execution risk - Exposure to tariff impacts ($90 million estimated for FY 2025) and currency headwinds
Recent development
Over the past several years, BD has undergone significant strategic transformation focused on becoming a more focused medical technology company. The most significant recent development is the announced separation of the Biosciences and Diagnostic Solutions business, which will create two independent public companies. The new BD will become a pure-play medical technology company with $17.8 billion in revenue and over 90% recurring revenue, while the separated entity will focus on life sciences research and diagnostics with $22 billion in addressable market opportunity. BD has made substantial investments in manufacturing capabilities, announcing a $2.5 billion investment in U.S. manufacturing over the next five years to enhance supply chain resilience and prepare for potential tariff impacts. The company has also been actively pursuing operational excellence through its BD Excellence program, completing over 500 Kaizen improvement events and reducing its manufacturing network by over 20%. Innovation has been a key focus, with BD launching over 25 new products annually in recent years. Notable developments include the return of the BD Alaris infusion system to the market after FDA approval, the launch of next-generation PureWick products for urinary incontinence, and advancement in flow cytometry with new FACSDiscover platforms. The company has also expanded significantly in biologic drug delivery systems, crossing $1 billion in annual revenue in this high-growth segment, particularly benefiting from the GLP-1 diabetes and obesity medication market. BD has been integrating artificial intelligence and connected care capabilities across its product portfolio, with over 3 million smart devices deployed that generate valuable data for improving patient outcomes and operational efficiency. The company completed the acquisition of Advanced Patient Monitoring (APM) capabilities and expanded its pharmacy automation platform through the Parata acquisition, positioning itself in the growing alternate care site market.
BDX company profile · for informational purposes only — not investment advice.
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