This medical device company beat analysts’ estimates by $0.07 last quarter.
Becton, Dickinson and Company (BDX)
From Shortex Market Letter
Becton, Dickinson and Company (BDX) is a global marketer of medical devices and instrument systems, including needles, syringes, pen needles, and diagnostic specimens. The company has diversified its products with a strong presence in emerging markets, powerful brand recognition, and consistent strong financial standing.
Becton provides an attractive growth issue in medical device industry. The company has maintained guidance of anticipated revenue increase of 4.5%-5.0%, with expected earnings on a comparable currency-neutral basis in the range of $9.70-$9.80/share reflecting yr/yr growth of 13%-14%.
The correction/retraction from its high of 179.49 set on Sept ‘16. Completed: (179-174) to (172-168) to (168-162). Reversal broken upward through primary resistance @ (166-168), secondary resistance @ (170-173) to (174-184), with a brief plunge (185-180). Creeping up to (182-185). Challenged upper head resistance @ (185-187) to new highs.
Volatile.
RECOMMENDATION
Buying Range: 185-194
Near Term Objective: 216
Intermediate objective: 238
Stop loss: 185
Joseph Parnes, Shortex Market Letter, www.shortex.com, 800-877-6555, June 2, 2017