BD (NYSE: BDX) + shares fell this morning on first-quarter results that came in mixed compared to the consensus forecast.

Shares of BD dipped 1.2% at $235.92 apiece in early-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — rose slightly.

The Franklin Lakes, New Jersey-based medtech giant posted profits of $281 million. That equals 96¢ per share from sales of $4.7 billion for the three months ended Dec. 31, 2023.

BD recorded a 42.2% bottom-line slide on sales growth of 2.6%.

Adjusted to exclude one-time items, earnings per share totaled $2.68. That landed 28¢ ahead of projections Wall Street, where analysts expected $4.73 billion in revenue.

Two of BD’s three segments saw revenue growth. Medical sales ticked up 3.5%, while Interventional revenues grew by 5.2%. Medication delivery, infusion and pharmaceutical systems all bolstered growth on that front.

Life Sciences declined by 1%. BD said its diagnostics business proved decisive in that measure, with performance reflecting higher prior-year respiratory testing revenues.

“Our Q1 results reflect our team’s strong execution of our BD 2025 strategy, in particular leveraging our broad portfolio of simplification programs to deliver both margin performance and cash flow ahead of our expectations,” said Tom Polen, chair, CEO and president of BD. “As we build on this momentum, advance our strong innovation pipeline and accelerate the adoption of our BD Excellence operating system, we are well-positioned to achieve our increased fiscal 2024 guidance and create sustained value for all stakeholders.”

BD raised the lower end and midpoint of its 2024 revenue growth guidance range and upped its adjusted EPS expectations. The company now expects 2024 revenues between $20.2 billion and $20.4 billion, compared to $20.1 billion and $20.3 billion previously. It forecasts adjusted EPS between $12.82 and $13.06, compared to $12.70 to $13 previously.