Becton Dickinson & Co. (NYSE:BDX) shares have lost about 3% of their value since the healthcare giant revealed its fiscal 3rd-quarter results yesterday.
BD reported profits of $326 million, or $1.65 per share, on sales of $2.16 billion for the 3 months ended June 30, a bottom-line gain of 11.6% on sales growth of 5.1% compared with the same period last year.
Adjusted to exclude 1-time items, earnings per share were $1.68, in line with Wall Street’s expectations.
"We are pleased with our solid 3rd-quarter results, with each of our segments contributing to growth," chairman, president & CEO Vincent Forlenza said in prepared remarks. "Our consistent performance demonstrates that our strategy remains sound in this dynamic healthcare environment."
BD stood pat on its prior sales and earnings guidance for the rest of fiscal 2014, saying it still expects to report earnings per share of $6.12 to $6.15 on sales growth of 4.0%-4.5%. Adjusted EPS are forecast to grown at a clip of 10.0%10.5%, representing a range of roughly $1.69 to $1.77 based on BD’s 3rd-quarter 2013 adjusted EPS of $1.54.
BDX shares were trading at $115.57 as of about 12:15 p.m. Eastern today, down 0.6% on the day and 3.2% since their close July 30, the day before the earnings release.