Shares of Becton, Dickinson & Co. (NYSE:BDX) hit a one-year high on Wall Street today as the device and diagnostics firm beat analyst’s expectations for its first quarter and announced another merger.
The uptick came despite the fact that the Franklin Lakes, N.J.-based medical device and diagnostics giant said sales and earnings were off from the same period last year.
The company posted profits of $314 million, or $1.36 per diluted share, on sales of $1.84 billion for the three months ended Dec. 31. That compares with profits of $316 million, or $1.30 per diluted share, on sales of $1.87 billion during the same period last year.
Analysts’ estimates for the company were in the neighborhood of $1.29 per diluted share. News that the company trumped The Street sent BD shares to a 52-week high of $85.90 in late-day trading, before retreating slightly at the market’s close to $85.64.
The company also announced that it had acquired Accuri Cytometers, Inc. for an undisclosed amount. BD said the Ann Arbor, Michigan-based firm develops and manufactures personal flow cytometers for researchers. The acquisition will help BD expand its presece into the “emerging affordable personal flow cytometer space,” according to a prepared release.