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BDX · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is Becton, Dickinson and Company (BDX) stock moving?
BD reported a fiscal Q4 beat on Nov 5: adjusted EPS of $4.15 versus a $4.07 estimate and sales of $5.274B versus $5.113B. Management issued FY27 adjusted EPS guidance of $13.10-$13.30, slightly below the $13.30 consensus, and the company also raised its dividend to $1.06 and authorized 10 million more shares for buybacks. A U.S. government partnership, with a planned $19B domestic investment and relief from future Section 232 tariffs on covered products, adds to the strategic story. The stock responded on Nov 4 with a 5.6% gain on volume of 4.46M, more than double the recent daily average of roughly 2M shares, and it has held in the $211-217 area since. Following the results, Wells Fargo upgraded the stock to Overweight, and Citigroup, Evercore ISI, RBC, and Piper Sandler raised their targets to between $200 and $242. Barclays remains Underweight with a $195 target, which is below the current price and is the main dissenting view. The close of $212.61 on Nov 10 is about 9% above the Oct 27 close of $195.03 and sits close to the recent high of $216.74. The next known catalyst is the Investor Day on Dec 10, where management is expected to discuss capital deployment and long-term targets. The FDA clearance of the BD OneFlow tests is a minor item for the company, since Waters announced it.
News behind the analysis
- BD Announces Investor Day for December 10, 2026BD will host an Investor Day on December 10, 2026, in New York to discuss business strategy, capital deployment, and long-term outlook.
- FDA 510(k) Clearance for BD OneFlow Diagnostic TestsWaters Corporation announced that the BD OneFlow LST and B-CLPD T1 tests received U.S. FDA 510(k) clearance for identifying B-cell non-Hodgkin lymphoma.
- Barclays Maintains Underweight on Becton Dickinson, Raises Price Target to $195Barclays kept its Underweight rating and raised its price target to $195, below the current share price.
- Wells Fargo Upgrades Becton, Dickinson and Company to OverweightWells Fargo upgraded BD from Equalweight to Overweight, and raised its price target to $242 in a separate Benzinga report.
- Becton Dickinson Enters Fiscal 2027 With More Focused Portfolio for Sustainable GrowthBD beat Q4 earnings and revenue estimates, raised its dividend 1%, authorized more share buybacks, and issued fiscal 2027 profit guidance.
- Becton, Dickinson and Company Reports Fiscal 2026 Fourth Quarter and Full Year Financial ResultsBD reported $5.3 billion in fourth-quarter revenue and FY26 adjusted diluted EPS of $12.70, and issued fiscal 2027 guidance.
- BD Declares Quarterly Dividend and Authorizes New Share Repurchase ProgramBD raised its quarterly dividend to $1.06 per share and authorized repurchases of up to 10 million additional shares.
- Becton Dickinson Sees FY2027 Adj EPS $13.10-$13.30 vs $13.30 EstBD guided fiscal 2027 adjusted EPS to $13.10-$13.30, a range that sits slightly below the $13.30 consensus estimate.
- Citigroup Maintains Buy on Becton Dickinson, Raises Price Target to $241Citigroup kept its Buy rating and raised its price target to $241 after the quarterly results.
- Evercore ISI Group Maintains Outperform on Becton Dickinson, Raises Price Target to $230Evercore ISI kept its Outperform rating and raised its price target to $230 after the quarterly results.
About Becton, Dickinson and Co.
Becton, Dickinson and Company (BD) is a large New Jersey-based medical technology company. It makes syringes, needles, IV catheters, infusion pumps, medication-dispensing systems, surgical products and other high-volume hospital supplies. It is known for a model built on recurring consumables, and since February 2026 it has been a more focused med-tech company: it spun off its Biosciences & Diagnostic Solutions business and merged it with Waters (WAT).
How it makes money
BD makes most of its money selling disposable medical products that hospitals, clinics and pharmacies buy over and over, mainly needles, syringes, catheters and drug-delivery devices. It also sells medication-management systems such as infusion pumps and automated dispensing cabinets, along with the software and service contracts that go with them. Other sales come from interventional products for surgery, urology, peripheral vascular care and critical care, plus pharmaceutical systems like prefillable syringes it sells to drugmakers. After the Waters deal, BD's revenue from continuing operations ran at roughly $5 billion a quarter in mid-2026. A large share comes from outside the US. In the deal, BD received about $4 billion in cash, and its shareholders received Waters stock.
What usually moves BDX
- Hospital procedure volumes and capital spending
- Demand for prefilled syringes, including for GLP-1 drugs
- Product recalls, FDA quality issues and infusion pump remediation
- Healthcare policy in China and the US, and pricing pressure
- Execution after the Waters separation, including margins and use of cash