but I just added a bunch to my position at 66.85. I have held this stock for 5 yrs now, and really it is my only position that is significantly in the green from that time period. I guess I'm a believer. This punishment seems a bit extreme. Usually I wouldn't buy until I understood exactly why the huge decline, but this looks like opportunity.
I didn't get to listen to the CC but just saw the price plunge. I called their IR group and, LOL, they didn't know what had been said either(it was still going on) but were watching in awe as the price fell.
Bottom line issue is that this qtrs numbers were protected with a forex hedge. The subject hedge will not be in place next year. Why? I don't know other than they may be thinking the dollar will tank.
Frankly, this drop allowed me to get back in because I had sold after the $60-$71 run-up. I grabbed some yesterday at $66 and some more today at $65.
The volume has been 2-3 times normal for 2 days now so it's oversold. Unless something drastic happens in the market next week, I expect a nice bounce. Damn fine company that has rewarded their shareholders for a long time.
Hang in there. This is a premier health care company.
carrickter, you got in good. If I had been paying attention today I might have jumped in too. A big BDX swoon like today's is too juicy to pass by but I wasn't looking! Seems like as soon as everybody hung up from the conference call they hit the sell button. By this time in a couple of months you will be quite pleased with yourself.
Their report card doesn't look any different than any other company in this current economy. Lighter revs... a little gloom in the call...ect. Every other stock seems to be heading north anyway. I cannot see why this one should be punished so hard. I feel good about the purchase of more shares anyway. This is one of the few medical stocks I feel is quasi-safe from the long misguided meddlings of the clowns on the Hill.