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Becton, Dickinson and Company Message Board

  • YoungPadawan79 YoungPadawan79 Jun 14, 1999 10:59 AM Flag

    Some more info on BDX

    While researching somes stocks at
    http://serioustrader.com , I noticed some info on BDX. Shares have fallen
    over 9 pts early this morning as the company said it
    expects earnings to below the estimates of some analysts.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • I just put in my order for some BDX. I think this
      is a great buying opportunity whether you may be in
      for a short-term gain or long-term reirement
      planning.

      It may take a while for the company's stock to pull
      out of this one, but I'm confident that it will with
      time. I also don't see the price falling much more, and
      certainly not much lower than 30 (minimum of 28-29
      IMO).

      It's kind of ironic though that if there was another
      company out there giving BD a serious look and they were
      capable of moving fast enough, this would be a great
      opportunity for them as well. With that said, I still don't
      think a takeover is a real possiility. Again, that's
      only my opinion.

      Enough for now. As usual,
      comments, criticisms, and the like are more than welcome
      (random_dude@yahoo.com).

      Best of luck to all.

      • 2 Replies to random_dude_99
      • BDX-a possible bouncer tomorrow.

        Becton
        Dickinson Earnings to Be Less Than Expected (Update4) (Adds
        details. Updates with closing share activity.)
        Franklin
        Lakes, New Jersey, June 14 (Bloomberg) -- Becton
        Dickinson & Co., the largest U.S. maker of syringes, said
        earnings for the quarter and the year would be less than
        expected because it failed to achieve sales targets in
        Europe.

        Shares of the company, which also makes Ace bandages,
        medical supplies and diagnostic test kits, plunged 8 3/4,
        or 22 percent, to 30 5/16 in trading of 8.6 million
        shares, nine times the three-month average. It was the
        biggest one-day drop in least 19 years, reducing the
        company's market value by $2.2 billion.

        Becton
        Dickinson has been buying smaller medical companies
        overseas to make up for slowing sales in its syringe
        business. Investors are concerned that the new businesses
        aren't paying off. The company said revenue for the
        fiscal third quarter ending June 30 will be $30 million
        to $35 million less than estimates, meaning earnings
        will fall about 4 cents a share short of expectations.
        ''It's a huge disappointment,'' said Michael Mullen, an
        analyst at SG Cowen & Co. ''It couldn't be worse, after
        they had a disappointing first quarter and then came
        back with a strong second quarter. Now, they've blown
        themselves out of the water. They've hurt their credibility
        in a great way.''

        Mullen, who said he will
        probably change his ''strong buy'' rating on the company,
        said the low share price makes Becton Dickinson an
        acquisition target.

        Revenue for the fourth quarter
        also is expected to be shy of estimates, resulting in
        a 4 cents-per-share earnings shortfall, the company
        said.

        Analysts had expected earnings of 42 cents for the third
        quarter and 46 cents for the fourth quarter. The Franklin
        Lakes, New Jersey-based company expects to earn $1.45 to
        $1.50 a share for the fiscal year ending September 30.
        It was expected to earn $1.57, the average estimate
        of analysts polled by First Call Corp.

        Plan
        Gone Awry

        Third-quarter revenue is likely to
        grow 4 percent to 5 percent over last year's $834
        million, rather than the previously expected 7 percent to
        9 percent growth, the company said.

        Becton
        Dickinson said its plan to increase revenue growth to 10
        percent a year was hurt by currency-exchange rates,
        lower-than- expected sales in Western Europe, especially
        Germany, and emerging markets, and poor performance of its
        home-health-care business. ''Europe is still growing at high
        single-digits and some emerging markets are growing by as much
        as 15 percent. We're trying to learn from our
        experience here,'' President Edward Ludwig said on a
        conference call. ''These are variances from our internal
        expectations.''

        Acquisitions

        Becton Dickinson bought closely held Clontech
        Laboratories Inc. for $200 million this year to expand its
        drug-development technology. It also purchased Biometric Imaging
        Inc., a closely held maker of transfusion equipment,
        Luther Medical Products Inc., a maker of catheters and
        needles, and the BOC Group's medical device unit for $452
        million in April.

        It probably will exit the
        home-diagnostic market since its newly introduced products have
        sold less than expected as competitors lowered prices,
        it said.

        Becton Dickinson also said today it
        will market Medisys Plc's NicSaf needle-disposal
        system in Singapore, Vietnam, Myanmar, Brunei and
        Micronesia.

        The company said it would have third-quarter charges
        of $75 million to $100 million, related to its
        voluntary retirement program and its home-health care
        business, which sells thermometers and other medical
        devices for the home.

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BDX
125.73+0.73(+0.58%)Oct 24 4:07 PMEDT

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