Becton Dickinson & Co. (BDX)

Shares of Becton Dickinson And Company (BDX) dropped by 9.25% from $255.92 to $232.24 in the trading on Thursday, Novemeber 9, 2023. The reasons why BDX down include:

• Mixed Q4 Earnings: BD reported adjusted earnings per share (EPS) of $3.42 for Q4 2023, marking a 24.4% year-over-year increase. However, this figure was in line with analyst expectations, leading to mixed sentiment. The full-year adjusted EPS of $12.21 represented a 7.6% increase compared to the previous fiscal year but slightly missed the consensus estimate. BD's Q4 2023 revenues were $5.09 billion, surpassing expectations and showing a 6.8% year-over-year growth. Full-year revenues also exceeded estimates. BD's various business segments, including BD Medical, BD Life Sciences, and BD Interventional, reported revenue performances in line with or slightly below analysts' estimates.
• Concerns about margin contraction: BD's gross profit decreased by 18.1% in Q4, with a significant gross margin contraction of 1017 basis points. Operating profit and margin also saw declines.
• Disappointing FY2024 Guidance: BD provided its fiscal 2024 outlook, with projected revenues, organic revenue growth, and adjusted EPS falling within the range of analyst expectations.