Bengaluru: Becton Dickinson surpassed analysts’ expectations for fourth-quarter results on Thursday, helped by strong demand for its drug-delivery devices.
Medical technology firms such as Becton, Boston Scientific and Abbott Laboratories have been benefiting from robust demand for non-essential surgical procedures, especially among older patients. On an adjusted basis, New Jersey-based Becton expects to earn between $14.25 and $14.60 per share in fiscal year 2025, the mid-point of which is above analysts’ estimate of $14.34, according to data compiled by LSEG.
Becton manufactures and distributes medical and surgical products such as needles, syringes and disposal units.
Sales from its medical unit, which makes devices to administer drugs, rose 11.1% to $2.84 billion for the three months ended Sept. 30. Analysts on average estimated $2.75 billion.
But the company’s life sciences unit, which offers diagnostic devices, missed expectations for sales.
Becton had completed the purchase of Edwards Lifesciences’ critical care products, which included advanced blood and heart monitoring systems, in September. The company had said the deal was expected to be immediately accretive to all its key financial metrics.
Becton’s total revenue for the fourth quarter came in at $5.44 billion, above analysts’ estimate of $5.38 billion.
Its adjusted profit of $3.81 per share also topped expectations of $3.77 per share.
(Reporting by Christy Santhosh in Bengaluru; Editing by Shilpi Majumdar)
