Tearsheet

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

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Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.5%, Dividend Yield is 2.8%, FCF Yield is 7.2%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 18%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 14%, CFO LTM is 3.8 Bil, FCF LTM is 3.1 Bil

Stock buyback support
Stock Buyback 3Y Total is 1.5 Bil

Low stock price volatility
Vol 12M is 26%

Megatrend and thematic drivers
Megatrends include Biotechnology & Genomics, Precision Medicine, Digital Health & Telemedicine, and Aging Population & Chronic Disease. Show more.

Weak multi-year price returns
2Y Excs Rtn is -49%, 3Y Excs Rtn is -91%

Expensive valuation multiples
P/EPrice/Earnings or Price/(Net Income) is 37x

Key risks
BDX key risks include [1] execution challenges with the planned separation and combination of its Biosciences and Diagnostic Solutions businesses.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.5%, Dividend Yield is 2.8%, FCF Yield is 7.2%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 18%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 14%, CFO LTM is 3.8 Bil, FCF LTM is 3.1 Bil
2 Stock buyback support
Stock Buyback 3Y Total is 1.5 Bil
3 Low stock price volatility
Vol 12M is 26%
4 Megatrend and thematic drivers
Megatrends include Biotechnology & Genomics, Precision Medicine, Digital Health & Telemedicine, and Aging Population & Chronic Disease. Show more.
5 Weak multi-year price returns
2Y Excs Rtn is -49%, 3Y Excs Rtn is -91%
6 Expensive valuation multiples
P/EPrice/Earnings or Price/(Net Income) is 37x
7 Key risks
BDX key risks include [1] execution challenges with the planned separation and combination of its Biosciences and Diagnostic Solutions businesses.

BDX in ETFs

Weight = BDX's share of each fund

SPY0.07%
VOO0.06%
IVV0.07%
VTI0.06%
ITOT0.06%
IWB0.06%
RSP0.21%
VTV0.16%
+29 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

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Updated on 7/1/2026

Becton Dickinson (BDX) stock has lost about 5% since 3/31/2026 because of the following key factors:

1. Strong Fiscal Q2 2026 Earnings and Raised Full-Year Guidance Provided Support.

Becton Dickinson reported robust financial results for its fiscal Q2 2026, which ended March 31, 2026, with adjusted earnings per share (EPS) of $2.90, surpassing analyst estimates by $0.13. Revenue reached $4.7 billion, exceeding consensus expectations by $30 million and representing a 5.2% year-over-year increase. Furthermore, the company raised its full-year fiscal 2026 adjusted diluted EPS guidance to a range of $12.52-$12.72 from the previous $12.35-$12.65. This positive earnings beat and upward revision of guidance initially caused the stock to rise, with an almost 6% increase on the day of the release and a 3.9% surge in pre-market trading, preventing a significant downturn during the period.

2. Post-Earnings Pullback and Market Dynamics Limited Sustained Upward Momentum.

Despite the initial positive reaction to the fiscal Q2 2026 earnings report on May 7, 2026, the market subsequently gave back most of those gains in the two trading days following the announcement. This immediate reversal suggests that while the company's performance was strong, broader market dynamics or investor caution potentially tempered sustained upward movement, causing the stock to oscillate rather than breaking out into a clear trend. The stock, which was around $157.23 in March 2026, saw a general decline to $143.92 by June 2026 before recovering to $152.90 by July 1, 2026, indicating volatility within a relatively stable overall range.

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Updated on 7/1/2026

Becton Dickinson (BDX) stock has lost about 5% since 3/31/2026 because of the following key factors:

1. Strong Fiscal Q2 2026 Earnings and Raised Full-Year Guidance Provided Support.

Becton Dickinson reported robust financial results for its fiscal Q2 2026, which ended March 31, 2026, with adjusted earnings per share (EPS) of $2.90, surpassing analyst estimates by $0.13. Revenue reached $4.7 billion, exceeding consensus expectations by $30 million and representing a 5.2% year-over-year increase. Furthermore, the company raised its full-year fiscal 2026 adjusted diluted EPS guidance to a range of $12.52-$12.72 from the previous $12.35-$12.65. This positive earnings beat and upward revision of guidance initially caused the stock to rise, with an almost 6% increase on the day of the release and a 3.9% surge in pre-market trading, preventing a significant downturn during the period.

2. Post-Earnings Pullback and Market Dynamics Limited Sustained Upward Momentum.

Despite the initial positive reaction to the fiscal Q2 2026 earnings report on May 7, 2026, the market subsequently gave back most of those gains in the two trading days following the announcement. This immediate reversal suggests that while the company's performance was strong, broader market dynamics or investor caution potentially tempered sustained upward movement, causing the stock to oscillate rather than breaking out into a clear trend. The stock, which was around $157.23 in March 2026, saw a general decline to $143.92 by June 2026 before recovering to $152.90 by July 1, 2026, indicating volatility within a relatively stable overall range.

3. Strategic Capital Allocation Supported Shareholder Value.

During fiscal Q2 2026, Becton Dickinson executed a $2.0 billion accelerated share repurchase program and retired $2.1 billion of debt. These actions demonstrate a commitment to returning capital to shareholders and strengthening the company's financial position, which typically supports stock valuation. While these efforts provided underlying support for the stock, they were not sufficient to propel it into a significant upward trend during the specified period.

4. Balanced Analyst Sentiment and Price Targets Contributed to a Stable Valuation.

As of July 1, 2026, Becton Dickinson maintained a consensus "Hold" rating from 16 Wall Street analysts, with 7 "Buy," 8 "Hold," and 1 "Sell" recommendation. The median price target from analysts was $175.00, implying a 15.6% upside from the trading price of $151.33 around July 1, 2026. Recent price targets issued in April and May 2026 ranged from $159.00 to $204.00. This mixed, yet generally neutral-to-positive, analyst outlook with a median target above the prevailing stock price likely contributed to the stock remaining range-bound, as bullish sentiments were balanced by cautious ratings.

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Stock Movement Drivers

Fundamental Drivers

The -3.6% change in BDX stock from 3/31/2026 to 7/8/2026 was primarily driven by a -35.9% change in the company's Net Income Margin (%).
(LTM values as of)33120267082026Change
Stock Price ($)156.13150.56-3.6%
Change Contribution By: 
Total Revenues ($ Mil)21,13221,3661.1%
Net Income Margin (%)8.3%5.3%-35.9%
P/E Multiple25.437.146.3%
Shares Outstanding (Mil)2862811.8%
Cumulative Contribution-3.6%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2026 to 7/8/2026
ReturnCorrelation
BDX-3.6% 
Market (SPY)14.6%-3.1%
Sector (XLV)10.7%65.6%

Fundamental Drivers

The 0.0% change in BDX stock from 12/31/2025 to 7/8/2026 was primarily driven by a 44.4% change in the company's P/E Multiple.
(LTM values as of)123120257082026Change
Stock Price ($)150.52150.560.0%
Change Contribution By: 
Total Revenues ($ Mil)21,04821,3661.5%
Net Income Margin (%)8.0%5.3%-33.2%
P/E Multiple25.737.144.4%
Shares Outstanding (Mil)2872812.1%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

12/31/2025 to 7/8/2026
ReturnCorrelation
BDX0.0% 
Market (SPY)9.6%15.8%
Sector (XLV)5.3%53.1%

Fundamental Drivers

The 13.9% change in BDX stock from 6/30/2025 to 7/8/2026 was primarily driven by a 46.5% change in the company's P/E Multiple.
(LTM values as of)63020257082026Change
Stock Price ($)132.16150.5613.9%
Change Contribution By: 
Total Revenues ($ Mil)20,07521,3666.4%
Net Income Margin (%)7.5%5.3%-28.6%
P/E Multiple25.337.146.5%
Shares Outstanding (Mil)2872812.4%
Cumulative Contribution13.9%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2025 to 7/8/2026
ReturnCorrelation
BDX13.9% 
Market (SPY)21.7%20.3%
Sector (XLV)22.0%53.5%

Fundamental Drivers

The -23.0% change in BDX stock from 6/30/2023 to 7/8/2026 was primarily driven by a -38.0% change in the company's Net Income Margin (%).
(LTM values as of)63020237082026Change
Stock Price ($)195.62150.56-23.0%
Change Contribution By: 
Total Revenues ($ Mil)18,80921,36613.6%
Net Income Margin (%)8.6%5.3%-38.0%
P/E Multiple34.437.18.0%
Shares Outstanding (Mil)2842811.3%
Cumulative Contribution-23.0%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2023 to 7/8/2026
ReturnCorrelation
BDX-23.0% 
Market (SPY)74.1%27.5%
Sector (XLV)28.0%55.4%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
BDX Return2%5%-3%-5%-13%4%-11%
Peers Return25%-17%6%5%10%-13%9%
S&P 500 Return27%-19%24%23%16%10%100%

Monthly Win Rates [3]
BDX Win Rate50%58%50%42%58%57% 
Peers Win Rate65%42%53%52%50%46% 
S&P 500 Win Rate75%42%67%75%67%57% 

Max Drawdowns [4]
BDX Max Drawdown-10%-20%-18%-10%-33%-23% 
Peers Max Drawdown-17%-30%-23%-16%-22%-31% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: TMO, MDT, ABT, DHR, SYK. See BDX Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 7/8/2026 (YTD)

How Low Can It Go

EventBDXS&P 500
2025 US Tariff Shock
  % Loss-27.1%-18.8%
  % Gain to Breakeven37.2%23.1%
  Time to Breakeven281 days79 days
2022 Inflation Shock & Fed Tightening
  % Loss-10.1%-24.5%
  % Gain to Breakeven11.3%32.4%
  Time to Breakeven51 days427 days
2020 COVID-19 Crash
  % Loss-21.4%-33.7%
  % Gain to Breakeven27.2%50.9%
  Time to Breakeven24 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-18.6%-19.2%
  % Gain to Breakeven22.9%23.8%
  Time to Breakeven212 days105 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-11.9%-12.2%
  % Gain to Breakeven13.5%13.9%
  Time to Breakeven37 days62 days
2011 US Debt Ceiling Crisis & European Contagion
  % Loss-18.3%-17.9%
  % Gain to Breakeven22.4%21.8%
  Time to Breakeven480 days123 days

Compare to TMO, MDT, ABT, DHR, SYK

In The Past

Becton Dickinson's stock fell -27.1% during the 2025 US Tariff Shock. Such a loss loss requires a 37.2% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

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EventBDXS&P 500
2025 US Tariff Shock
  % Loss-27.1%-18.8%
  % Gain to Breakeven37.2%23.1%
  Time to Breakeven281 days79 days
2020 COVID-19 Crash
  % Loss-21.4%-33.7%
  % Gain to Breakeven27.2%50.9%
  Time to Breakeven24 days140 days
2008-2009 Global Financial Crisis
  % Loss-27.9%-53.4%
  % Gain to Breakeven38.7%114.4%
  Time to Breakeven742 days1085 days

Compare to TMO, MDT, ABT, DHR, SYK

In The Past

Becton Dickinson's stock fell -27.1% during the 2025 US Tariff Shock. Such a loss loss requires a 37.2% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Becton Dickinson (BDX)

Becton Dickinson (BDX) is a global medical technology company dedicated to developing, manufacturing, and selling a comprehensive portfolio of medical supplies, devices, laboratory equipment, and diagnostic products. The company's mission is to advance the world of health by providing essential tools and systems that improve patient care, enhance medical research, and streamline clinical operations for healthcare providers worldwide.

BDX's diverse offerings are organized into three main segments. Its BD Medical segment provides critical medical supplies such as peripheral and central catheters, hypodermic syringes, needles, and sharps disposal systems. This segment also delivers advanced medication management solutions, including IV medication and infusion therapy systems, automated medication dispensing, and specific products for diabetes care like insulin syringes and pen needles.

The BD Life Sciences segment specializes in specimen and blood collection products, along with sophisticated diagnostic systems for blood and tuberculosis culturing, molecular testing, and microorganism identification. It also offers advanced cell sorters, analyzers, and reagents for life science research and clinical diagnostics. Finally, the BD Interventional segment provides products for hernia and soft tissue repair, biosurgery, surgical infection prevention, peripheral intervention devices, and urology and critical care solutions. The company primarily serves healthcare institutions, physicians, life science researchers, clinical laboratories, and the pharmaceutical industry globally.

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Grainger for hospitals and medical labs.

Thermo Fisher Scientific for hospital operations and patient care.

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  • Medical Catheters and Infusion Products: Provides a range of peripheral and advanced catheters, central lines, and IV medication and infusion therapy delivery systems.
  • Drug Delivery Systems and Devices: Offers hypodermic syringes, pen needles, prefillable drug delivery systems, and closed-system drug transfer devices.
  • Medication Management Systems: Develops automated medication dispensing, supply management, and inventory optimization systems for healthcare institutions.
  • Specimen and Blood Collection Products: Manufactures products for collecting blood and other specimens for diagnostic testing.
  • Diagnostic Systems: Supplies automated systems for microbiology, molecular testing, microorganism identification, and rapid diagnostic assays.
  • Cell Analysis and Research Tools: Provides fluorescence-activated cell sorters, analyzers, antibodies, and reagents for single-cell gene expression analysis and clinical diagnostics.
  • Surgical and Interventional Products: Offers products for hernia and soft tissue repair, biosurgery, surgical instrumentation, and peripheral interventions.
  • Urology and Critical Care Products: Delivers specialized products for urology and critical care applications.

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Becton Dickinson (BDX) primarily sells its products and solutions to other companies and institutions within the healthcare and life sciences sectors, rather than directly to individuals. The company's major customers can be categorized as follows:

  • Healthcare Institutions: This broad category includes hospitals, clinics, acute care facilities, long-term care facilities, and physician practices worldwide. These customers purchase a comprehensive range of BD Medical and BD Interventional products, such as catheters, infusion therapy systems, medication management systems, hypodermic needles, surgical products, and critical care solutions.
  • Clinical Laboratories: Both independent and hospital-based clinical laboratories are major customers, utilizing BD Life Sciences products for specimen collection, automated blood and tuberculosis culturing, molecular testing, microorganism identification, and liquid-based cytology systems.
  • Pharmaceutical Industry: Pharmaceutical companies are key customers for BDX, particularly for prefillable drug delivery systems, as well as laboratory equipment, reagents, and diagnostic products used in drug discovery, development, and manufacturing processes.
  • Life Science Research Institutions: This segment includes universities, government research facilities, and biotechnology companies that utilize BD Life Sciences' advanced tools such as fluorescence-activated cell sorters and analyzers, antibodies, and reagent systems for single-cell gene expression analysis and various research applications.

The provided company description does not name specific customer companies or their public symbols, as BDX's customer base within these categories is vast and global.

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Tom Polen, Chairman, CEO and President

Tom Polen has over 25 years of experience in the medtech industry. He joined BD in 1999 through an acquired early-phase start-up. Prior to becoming CEO in February 2020 and Chairman in April 2021, he served as President and Chief Operating Officer, and previously as President of the Medical segment. He led the $12 billion acquisition of CareFusion, expanding BD's presence in informatics, healthcare automation, and digital health solutions, and also directed the strategy for the acquisition of C. R. Bard, Inc. Before rejoining BD in 2009, he successfully led Baxter Healthcare's pharmaceuticals businesses. Polen has overseen more than 30 acquisitions during his leadership at BD. He also previously served on the board of directors for Walgreens Boots Alliance.

Vitor Roque, Senior Vice President of Finance, Business Units, Corporate Financial Planning, Analysis and Interim Chief Financial Officer

Vitor Roque was appointed interim Chief Financial Officer effective December 5, 2025. He has been with BD for two decades, holding a broad range of finance leadership roles across regions, business units, and segments, and has supported key acquisitions. Prior to his interim CFO role, he served as the senior vice president responsible for finance in business units and corporate financial planning and analysis.

Elizabeth McCombs, Executive Vice President and Chief Technology Officer

Elizabeth McCombs serves as executive vice president and chief technology officer, responsible for leading all research and development (R&D) activities and advancing new product innovation. She joined BD in 2019 as the Senior Vice President of R&D for the BD Medical Segment. Before BD, she spent over 20 years at Johnson & Johnson (J&J), where her roles included Vice President of R&D for Ethicon, J&J's surgical device franchise, director for the J&J Corporate Office of Science and Technology (COSAT), and R&D leader for the J&J Sports Medicine business.

Roland Goette, Executive Vice President and President of the Europe, Middle East and Africa (EMEA) region

Roland Goette joined BD in 2000 as European marketing manager for Flow Cytometry. He has held various leadership positions with increasing responsibility, including business director of the BD Biosciences business in Eastern Europe, Middle East and Africa, and vice president and general manager of BD Medical Surgical Systems for Central and South Asia, a role that included three years in Singapore. He was instrumental in establishing BD's European headquarters in the Canton of Vaud in 2016 following the acquisition of CareFusion.

Bilal Muhsin, Executive Vice President and President of Future Connected Care Segment

Bilal Muhsin was named Executive Vice President and President of BD's future Connected Care segment, effective July 2, 2025. In this newly created role, he is responsible for advancing BD's Connected Care strategy, which involves shaping organizational capabilities, driving commercial strategy, accelerating innovation, and ensuring operational and quality excellence. His leadership focuses on leveraging advanced analytics and AI solutions with BD's smart devices to enhance patient care efficiency and effectiveness.

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Becton Dickinson (BDX) faces several key risks inherent to its operations in the highly regulated and competitive medical technology sector.
  1. Regulatory and Compliance Risks: Becton Dickinson is subject to extensive regulation by governmental authorities worldwide, particularly the U.S. Food and Drug Administration (FDA). Failure to comply with these regulations, including those related to product approvals, manufacturing quality, and marketing, can lead to severe consequences. Recently, the U.S. Securities and Exchange Commission (SEC) announced settled charges against Becton Dickinson for repeatedly misleading investors about regulatory risks associated with its Alaris infusion pump and for overstating income by not recording costs for fixing software flaws. This resulted in a $175 million civil penalty. Such regulatory non-compliance can lead to product recalls, significant fines, legal liabilities, and damage to the company's reputation.
  2. Antitrust and Competition Lawsuits: The company faces risks related to allegations of anti-competitive practices. For instance, Tela Bio has filed a lawsuit against Becton Dickinson, alleging anti-competitive behavior in the surgical hernia mesh market, including claims of retaliating against hospitals and using long-term contracts to limit competition. Furthermore, BDX has been subject to federal antitrust lawsuits concerning its syringe and IV catheter markets, accused of suppressing competition and maintaining a monopoly through exclusionary practices. Such litigation can result in substantial financial damages, costly legal battles, and restrictions on business practices.
  3. Intellectual Property Litigation: Operating in an innovation-driven industry, Becton Dickinson's success relies heavily on its intellectual property, including patents. The company is actively involved in intellectual property disputes, both as a plaintiff and a defendant. For example, Becton Dickinson has filed a federal lawsuit against Baxter International Inc., alleging infringement of six patents related to infusion-pump technologies. Conversely, Becton Dickinson has also been sued for patent infringement regarding its catheter-insertion systems. The costs associated with enforcing or defending intellectual property rights, as well as potential adverse judgments, pose a significant risk to the business.

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Becton Dickinson (BDX) operates in several medical technology markets. The addressable markets for its main products and services are sized globally and by region where specified:

BD Medical Segment

  • Peripheral Intravenous (IV) Catheters: The global peripheral intravenous catheters (PIVC) market was valued at approximately USD 5.51 billion in 2024 and is projected to reach USD 10.59 billion by 2033. North America held the largest share of 73.1% in this market in 2024. Other estimates place the global peripheral IV catheter market at around USD 5.37 billion in 2024, growing to USD 16.39 billion by 2032. Another source indicates a market size of USD 1.96 billion in 2024, expected to reach USD 3.01 billion by 2032, with North America holding an estimated 38.5% share.
  • IV Medication and Infusion Therapy Delivery Systems: The global infusion therapy market was valued at USD 11.7 billion in 2023, with projections to reach USD 15.0 billion by 2030. Other reports indicate the global infusion therapy market size was approximately USD 49.58 billion in 2024 and is projected to reach USD 83.10 billion by 2034, with North America expected to lead. The global Infusion Systems Market was estimated at USD 19.74 billion in 2024 and is projected to reach USD 43.17 billion by 2035, with North America holding a significant share. The Global Infusion Therapy Devices Market is estimated to reach USD 77.65 billion by 2032, and North America is identified as the largest market in 2025.
  • Diabetes Care Devices (Syringes, Pen Needles, and Drug Delivery Systems): The global diabetes care devices market size was valued at USD 34.19 billion in 2024 and is estimated to reach USD 62.65 billion by 2033. North America dominated this market, accounting for over 38.6% share in 2024. Other estimates show the market size at USD 35.09 billion in 2025, projected to reach USD 101.54 billion by 2034. Another report calculated the global market at USD 68.57 billion in 2025, expected to reach approximately USD 125.03 billion by 2035, with North America dominating with a 39% share in 2025.

BD Life Sciences Segment

  • Specimen and Blood Collection Products: The global specimen collection cards market generated USD 464.6 million in 2024 and is expected to reach USD 621.3 million by 2030. North America was the largest revenue-generating market in 2024, holding a 34.5% share. Another source states the global specimen collection cards market size was valued at USD 441.5 million in 2024 and is projected to reach USD 715.4 million by 2035, with North America dominating in 2024 with a 40.6% revenue share. The specimen collection kit market, which includes a broader range of products, was USD 7.56 billion in 2022 and is expected to reach USD 15.63 billion by 2030, with North America dominating.
  • Molecular Diagnostics: The global molecular diagnostics market size was valued at USD 15.78 billion in 2025 and is projected to grow to USD 23.62 billion by 2034. North America dominated with a 42.42% share in 2025. Other estimates place the global market size at USD 45.11 billion in 2025, predicted to increase to approximately USD 66.34 billion by 2035, with North America accounting for over 40% in 2025.
  • Microbiology Testing: The global microbiology testing market was valued at USD 5.47 billion in 2024 and is expected to reach USD 10.99 billion by 2032. Another report estimates the global market size at USD 5.80 billion in 2024, predicted to increase to approximately USD 13.73 billion by 2034, with North America leading. The global microbiology testing market size is calculated at USD 5.84 billion in 2024, projected to reach around USD 13.89 billion by 2034, with North America holding a 46% share in 2024.
  • Flow Cytometry: The global flow cytometry market size was estimated at USD 4,684.2 million in 2024 and is projected to reach USD 7,013.1 million by 2030. North America dominated with the largest revenue share of 41.35% in 2024. Other estimates value the global market at USD 6.66 billion in 2025, projected to grow to USD 14.12 billion by 2034, with North America dominating with a 39.42% share in 2025.

BD Interventional Segment

  • Surgical Mesh (Hernia and Soft Tissue Repair): The global surgical mesh market size was valued at USD 2.39 billion in 2024 and is projected to reach USD 2.81 billion by 2034, with the U.S. remaining the largest market. Another source indicates the global surgical meshes market reached approximately USD 2.02 billion in 2024, expected to grow to USD 2.78 billion in 2029 and USD 3.77 billion in 2034. The Surgical Mesh Market size is expected to grow from USD 2.16 billion in 2022 to USD 3.85 billion by 2030.
  • Peripheral Intervention Products: The Peripheral Interventions Market size reached USD 8.7 billion in 2022 and is set to expand to USD 20.6 billion by 2032. North America's peripheral interventions market is poised to amass more than USD 8.1 billion by 2032. The global peripheral interventions market size is USD 11.30 billion in 2025, calculated to reach around USD 54.59 billion by 2034, with North America dominating with a 36% revenue share in 2024. The Peripheral Intervention Market is expected to reach a valuation of USD 11.9 billion by 2032, with North America as the largest market, accounting for approximately 45% of the global share, and Asia-Pacific emerging rapidly with about 20% of the global share.

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Becton Dickinson (BDX) is expected to drive future revenue growth over the next 2-3 years through several key strategies and initiatives:

  1. Strategic Focus on "New BD" and High-Growth MedTech Markets: The company's separation of its Biosciences and Diagnostic Solutions business (combined with Waters Corporation) positions "New BD" as a pure-play medical technology leader. This strategic pivot allows for intensified focus and investment in healthcare providers and patient end-markets, which are projected to have a combined addressable market of over $70 billion with approximately 5% growth. This sharper focus is anticipated to accelerate innovation and enhance margins, thereby supporting revenue expansion.
  2. Innovation and New Product Introductions in Key Growth Platforms: BD is actively driving growth through the launch and expansion of innovative products across several high-potential areas. This includes strong demand for biologic drug delivery systems, particularly for high-viscosity formulations and large-volume subcutaneous delivery, including GLP-1 therapies, with products like the BD Libertas™ Wearable Injector and BD Neopak™ XtraFlow™ Glass Prefillable Syringe. Additionally, the company is focusing on smart connected care solutions, such as the AI-enabled BD Incada™ Connected Care Platform and the next-generation BD Pyxis™ Pro Automated Medication Dispensing Solution, which aim to enhance medication management and operational efficiency. Strong performance is also expected from advanced tissue regeneration and peripheral intervention products, including the Rotarex™ Atherectomy System and Phasix resorbable mesh, within the BD Interventional segment.
  3. Operational Efficiency and Reinvestment in Growth Initiatives: The "BD Excellence" operating model is a crucial enabler of revenue growth by driving significant P&L leverage and expanding adjusted gross and operating margins. These efficiency gains and cost optimizations are designed to fuel increased investment in research and development (R&D) and commercial capabilities, directly supporting the development and market penetration of new, revenue-generating products and solutions.
  4. Strategic Acquisitions for Portfolio Expansion: BD has demonstrated a commitment to inorganic growth through targeted acquisitions. The acquisition of Edwards Lifesciences' Critical Care group, now known as BD Advanced Patient Monitoring, exemplifies this strategy by enhancing the company's smart connected care offerings with advanced monitoring technologies and AI-driven clinical decision tools. Such strategic acquisitions expand BD's portfolio and market reach, contributing to overall revenue growth.

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Share Repurchases

  • In February 2026, Becton Dickinson completed a share buyback program, initiated in 2021, totaling US$1,307.21 million.
  • In January 2026, the Board of Directors authorized the repurchase of up to 10 million additional shares of common stock, augmenting existing authorizations from 2021 and 2025.
  • For fiscal year 2025, the company's annual share buybacks amounted to $1 billion. In fiscal year 2024, BDX repurchased $500 million in stock.

Share Issuance

  • Becton Dickinson's shares outstanding experienced slight fluctuations within the last three years, increasing by 0.36% in 2023 to 0.288 billion and by 0.91% in 2024 to 0.291 billion.
  • For 2025, shares outstanding declined by 0.86% to 0.289 billion.

Outbound Investments

  • In September 2024, BD completed the acquisition of Edwards Lifesciences' Critical Care product group, which has been renamed BD Advanced Patient Monitoring. This acquisition expands BD's portfolio with advanced monitoring solutions and AI-enabled clinical decision tools.
  • The company completed the acquisition of Parata Systems in July 2022 and Cytognos in February 2022.
  • BD also acquired Venclose Inc. in December 2021 and Tepha Inc. in July 2021.

Capital Expenditures

  • Becton Dickinson's capital expenditures were $108 million as of March 7, 2026.
  • The latest value for Last Twelve Months (LTM) capital expenditure was $208 million as of November 2025.
  • The company's strategy involves targeted investments aimed at sustaining growth and improving margins.

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Financials

BDXTMOMDTABTDHRSYKMedian
NameBecton D.Thermo F.MedtronicAbbott L.Danaher Stryker  
Mkt Price150.56510.1382.0195.18190.77326.85170.67
Mkt Cap42.3189.8105.0165.8135.0125.2130.1
Rev LTM21,36645,19636,36345,13424,77825,27030,816
Op Inc LTM3,0938,2076,8277,7054,7605,1235,975
FCF LTM3,0576,7485,4267,3785,2914,5715,358
FCF 3Y Avg2,8957,0115,2706,3195,2473,6695,259
CFO LTM3,8318,2877,3309,4646,4395,3756,884
CFO 3Y Avg3,6308,4517,0548,5196,5484,3786,801

Growth & Margins

BDXTMOMDTABTDHRSYKMedian
NameBecton D.Thermo F.MedtronicAbbott L.Danaher Stryker  
Rev Chg LTM6.4%5.4%8.4%6.6%4.0%8.8%6.5%
Rev Chg 3Y Avg4.4%1.1%5.2%2.9%-0.1%10.1%3.6%
Rev Chg Q5.2%6.2%9.9%7.8%3.7%2.6%5.7%
QoQ Delta Rev Chg LTM1.1%1.4%2.5%1.8%0.9%0.6%1.3%
Op Inc Chg LTM22.3%4.7%4.4%8.0%-1.3%12.3%6.4%
Op Inc Chg 3Y Avg8.2%3.7%5.8%3.9%-10.7%15.0%4.9%
Op Mgn LTM14.5%18.2%18.8%17.1%19.2%20.3%18.5%
Op Mgn 3Y Avg13.2%17.9%18.4%16.6%20.2%19.9%18.2%
QoQ Delta Op Mgn LTM0.5%-0.0%0.1%-1.1%0.1%0.1%0.1%
CFO/Rev LTM17.9%18.3%20.2%21.0%26.0%21.3%20.6%
CFO/Rev 3Y Avg17.8%19.4%20.7%19.9%27.2%18.8%19.7%
FCF/Rev LTM14.3%14.9%14.9%16.3%21.4%18.1%15.6%
FCF/Rev 3Y Avg14.2%16.1%15.5%14.8%21.8%15.7%15.6%

Valuation

BDXTMOMDTABTDHRSYKMedian
NameBecton D.Thermo F.MedtronicAbbott L.Danaher Stryker  
Mkt Cap42.3189.8105.0165.8135.0125.2130.1
P/S2.04.22.93.75.55.03.9
P/Op Inc13.723.115.421.528.424.422.3
P/EBIT18.721.315.319.129.423.920.2
P/E37.127.721.926.436.637.532.2
P/CFO11.022.914.317.521.023.319.2
Total Yield5.5%3.6%8.0%6.3%2.7%3.7%4.6%
Dividend Yield2.8%0.0%3.5%2.5%0.0%1.0%1.8%
FCF Yield 3Y Avg5.0%3.6%4.6%3.2%3.4%2.7%3.5%
D/E0.40.20.30.20.10.10.2
Net D/E0.40.20.20.20.10.10.2

Returns

BDXTMOMDTABTDHRSYKMedian
NameBecton D.Thermo F.MedtronicAbbott L.Danaher Stryker  
1M Rtn1.1%8.7%2.6%5.2%4.2%8.7%4.7%
3M Rtn-3.5%1.4%-6.7%-7.5%-2.6%-3.6%-3.5%
6M Rtn-4.2%-17.2%-16.4%-24.2%-18.7%-10.6%-16.8%
12M Rtn12.4%20.1%-4.4%-27.2%-4.2%-15.2%-4.3%
3Y Rtn-20.9%0.3%5.4%-5.0%-6.3%14.4%-2.3%
1M Excs Rtn-1.0%6.7%-0.0%3.2%2.4%5.9%2.8%
3M Excs Rtn-15.2%-8.8%-17.3%-19.0%-13.0%-14.4%-14.8%
6M Excs Rtn-10.8%-24.8%-22.7%-32.3%-27.0%-14.2%-23.8%
12M Excs Rtn-6.6%2.2%-23.5%-47.5%-23.8%-36.0%-23.7%
3Y Excs Rtn-91.2%-69.4%-65.4%-75.4%-77.1%-57.8%-72.4%

Comparison Analyses

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Medical Essentials11,45610,0749,5028,8418,361
Interventional5,2174,9804,7364,4644,239
Life Sciences5,1675,1915,1335,5646,530
Other0-670  
Total21,84020,17819,37118,86919,130


Operating Income by Segment
$ Mil20252024202320222021
Medical Essentials4,1403,5831,9672,2151,985
Interventional2,2532,1151,2171,081933
Life Sciences1,6411,6161,5851,7102,391
Total8,0347,3144,7695,0065,309


Assets by Segment
$ Mil20202019201820172016
Medical Essentials23,00722,92523,49318,33219,154
Interventional21,61922,15723,219  
Life Sciences4,7134,1354,2254,0563,848
Corporate administrative and other unallocated4,6732,5482,96615,3472,584
Total54,01251,76553,90337,73525,586


Price Behavior

Price Behavior
Market Price$150.56 
Market Cap ($ Bil)42.3 
First Trading Date04/06/1983 
Distance from 52W High-17.7% 
   50 Days200 Days
DMA Price$147.39$152.47
DMA Trendindeterminatedown
Distance from DMA2.2%-1.3%
 3M1YR
Volatility30.5%26.3%
Downside Capture-47.7726.33
Upside Capture-42.9334.05
Correlation (SPY)-4.9%20.3%
BDX Betas & Captures as of 6/30/2026

 1M2M3M6M1Y3Y
Beta-0.14-0.330.040.330.440.45
Up Beta-0.52-0.020.650.610.540.49
Down Beta0.520.660.160.920.700.55
Up Capture-5%-53%-20%2%26%8%
Bmk +ve Days11244067140429
Stock +ve Days9182650114355
Down Capture-44%-109%-48%3%31%72%
Bmk -ve Days10172358112321
Stock -ve Days12223674136392

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with BDX
BDX13.5%26.3%0.45-
Sector ETF (XLV)22.5%15.7%1.0953.0%
Equity (SPY)21.2%12.5%1.2620.4%
Gold (GLD)21.9%27.8%0.7012.4%
Commodities (DBC)25.0%18.7%1.06-12.9%
Real Estate (VNQ)12.7%13.9%0.6242.0%
Bitcoin (BTCUSD)-41.4%42.8%-1.137.9%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with BDX
BDX-2.8%23.6%-0.15-
Sector ETF (XLV)6.8%14.9%0.2758.7%
Equity (SPY)13.2%17.1%0.6034.3%
Gold (GLD)17.8%18.3%0.7912.0%
Commodities (DBC)7.8%19.5%0.301.5%
Real Estate (VNQ)2.8%18.9%0.0540.4%
Bitcoin (BTCUSD)12.1%53.5%0.418.0%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with BDX
BDX3.5%23.7%0.15-
Sector ETF (XLV)10.9%16.6%0.5461.6%
Equity (SPY)15.9%17.9%0.7643.9%
Gold (GLD)11.5%16.1%0.588.5%
Commodities (DBC)6.4%18.0%0.288.0%
Real Estate (VNQ)5.4%20.7%0.2239.1%
Bitcoin (BTCUSD)58.0%66.2%0.985.7%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date6152026
Short Interest: Shares Quantity7.3 Mil
Short Interest: % Change Since 53120261.0%
Average Daily Volume2.0 Mil
Days-to-Cover Short Interest3.6 days
Basic Shares Quantity280.6 Mil
Short % of Basic Shares2.6%

Earnings Returns History

Updated 6/3/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
4/2/20260.5%-0.2%-5.3%
2/9/2026-1.3%6.5%-0.1%
10/15/2025-0.8%0.7%3.4%
8/7/20258.9%13.7%11.6%
5/1/2025-18.1%-19.3%-16.7%
2/5/2025-7.3%-7.8%-6.3%
11/7/2024-5.4%-3.7%-8.3%
8/1/2024-2.1%-3.5%-0.0%
...
SUMMARY STATS   
# Positive7108
# Negative181517
Median Positive3.1%2.3%3.8%
Median Negative-3.2%-3.7%-5.3%
Max Positive8.9%13.7%13.8%
Max Negative-18.1%-19.3%-17.1%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
4/2/20260.5%-0.2%-5.3%
2/9/2026-1.3%6.5%-0.1%
10/15/2025-0.8%0.7%3.4%
8/7/20258.9%13.7%11.6%
5/1/2025-18.1%-19.3%-16.7%
2/5/2025-7.3%-7.8%-6.3%
11/7/2024-5.4%-3.7%-8.3%
8/1/2024-2.1%-3.5%-0.0%
5/2/20242.8%-0.1%-0.7%
2/1/20241.5%0.3%-1.5%
11/9/2023-9.3%-8.7%-8.9%
8/3/2023-2.7%1.9%1.2%
5/4/2023-4.2%-4.8%-4.5%
2/2/2023-2.2%-1.6%-6.7%
11/10/20225.0%1.7%13.8%
8/4/20223.1%5.6%4.2%
5/31/2022-1.7%0.8%-3.3%
4/14/2022-4.3%-6.1%-6.9%
2/3/20225.4%8.0%7.3%
11/4/2021-1.2%-0.5%-1.2%
8/5/2021-4.6%-5.5%0.2%
5/6/2021-3.6%-3.3%-3.6%
2/4/2021-2.3%-3.1%-5.5%
11/5/2020-0.9%2.7%2.5%
8/6/2020-8.4%-9.2%-17.1%
SUMMARY STATS   
# Positive7108
# Negative181517
Median Positive3.1%2.3%3.8%
Median Negative-3.2%-3.7%-5.3%
Max Positive8.9%13.7%13.8%
Max Negative-18.1%-19.3%-17.1%

SEC Filings

Expand for More
Report DateFiling DateFiling
03/31/202605/07/202610-Q
12/31/202502/09/202610-Q
09/30/202511/25/202510-K
06/30/202508/07/202510-Q
03/31/202505/01/202510-Q
12/31/202402/06/202510-Q
09/30/202411/27/202410-K
06/30/202408/01/202410-Q
03/31/202405/02/202410-Q
12/31/202302/01/202410-Q
09/30/202311/21/202310-K
06/30/202308/03/202310-Q
03/31/202305/04/202310-Q
12/31/202202/02/202310-Q
09/30/202211/22/202210-K
06/30/202208/04/202210-Q
Collapse to Preview
Report DateFiling DateFiling
03/31/202605/07/202610-Q
12/31/202502/09/202610-Q
09/30/202511/25/202510-K
06/30/202508/07/202510-Q
03/31/202505/01/202510-Q
12/31/202402/06/202510-Q
09/30/202411/27/202410-K
06/30/202408/01/202410-Q
03/31/202405/02/202410-Q
12/31/202302/01/202410-Q
09/30/202311/21/202310-K
06/30/202308/03/202310-Q
03/31/202305/04/202310-Q
12/31/202202/02/202310-Q
09/30/202211/22/202210-K
06/30/202208/04/202210-Q
03/31/202205/05/202210-Q
12/31/202102/03/202210-Q
09/30/202111/24/202110-K
06/30/202108/05/202110-Q
03/31/202105/06/202110-Q
12/31/202002/04/202110-Q
09/30/202011/25/202010-K
06/30/202008/06/202010-Q
03/31/202005/07/202010-Q
12/31/201902/06/202010-Q
09/30/201911/27/201910-K
06/30/201908/06/201910-Q

Insider Activity

Updated 7/6/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Feld, MichaelEVP, Chief Revenue OfficerDirectSell6262026152.807511,4603,210,175Form
2Garrison, Michael DavidEVP & Pres Med.Essntl&BioPharmDirectSell6252026145.661,100160,2261,918,634Form
3Garrison, Michael DavidEVP & Pres Med.Essntl&BioPharmDirectSell6112026151.481,100166,6282,161,923Form
4Polen, Thomas E JRChairman, CEO and PresidentDirectSell6032026146.352,764404,51116,122,355Form
5Feld, MichaelEVP, Chief Revenue OfficerDirectSell5272026147.357511,0513,106,727Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Feld, MichaelEVP, Chief Revenue OfficerDirectSell6262026152.807511,4603,210,175Form
2Garrison, Michael DavidEVP & Pres Med.Essntl&BioPharmDirectSell6252026145.661,100160,2261,918,634Form
3Garrison, Michael DavidEVP & Pres Med.Essntl&BioPharmDirectSell6112026151.481,100166,6282,161,923Form
4Polen, Thomas E JRChairman, CEO and PresidentDirectSell6032026146.352,764404,51116,122,355Form
5Feld, MichaelEVP, Chief Revenue OfficerDirectSell5272026147.357511,0513,106,727Form
6Feld, MichaelEVP, Chief Revenue OfficerDirectSell4282026151.947411,2443,214,898Form
7Feld, MichaelEVP, Chief Revenue OfficerDirectSell3272026156.837511,7623,329,971Form
8Feld, MichaelEVP, Chief Revenue OfficerDirectSell2272026181.847513,6383,874,647Form
9Scott, Bertram L DirectSell2182026182.61953174,0276,713,291Form
10Feld, MichaelEVP, CRO & Pres. Life SciencesDirectSell1282026202.737515,2053,331,057Form
11Garrison, Michael DavidEVP & Pres Med.Essntl&BioPharmDirectSell1162026207.461,610334,0052,509,190Form
12Feld, MichaelEVP, CRO & Pres. Life SciencesDirectSell12292025196.087414,5103,236,496Form
13Garrison, Michael DavidEVP & Pres Med.Essntl&BioPharmDirectSell12172025196.03629123,3032,568,973Form
14Feld, MichaelEVP, CRO & Pres. Life SciencesDirectSell12022025193.367514,5023,205,909Form
15Scott, Bertram L DirectSell11072025176.5821738,3186,324,389Form
16Feld, MichaelEVP & President, Life SciencesDirectSell10282025186.015710,6031,533,652Form
17Feld, MichaelEVP & President, Life SciencesDirectSell9292025181.035810,5001,502,911Form
18Fraser, Claire DirectSell9112025187.50917171,9384,167,375Form
19Feld, MichaelEVP & President, Life SciencesDirectSell8262025197.995711,2851,655,196Form
20Hayes, Gregory DirectBuy8112025191.575,2501,005,7421,158,232Form
21Fraser, Claire DirectSell8082025192.30863165,9554,450,399Form
22Garrison, Michael DavidEVP & President, MedicalDirectSell7222025180.291,185213,645881,082Form
Core Cache Last Updated: 7/8/2026