Brean Murray Carret Gives Insight to Becton Dickinson's FQ1

In a recent research report published by Brean Murray Carret, Becton Dickinson (NYSE: BDX) produced a slight revenue beat in FQ1, but maintained clearly low single digit growth.

In the report, Brean Murray Carret commented, “Sales of $1.888B (+2.5%, +2.4% FXN) came in slightly ahead of expectations that were at the high end of management 1-2% FXN revenue growth guidance. Acquisitions (Accuri/Carmel) added $20MM, or roughly 100bps. Med Surg performed better than our model by 150 bps (primarily Pharm Systems), and Biosciences underperformed which was attributed to US NIH budget uncertainties (this despite some budget uncertainty having been built into forecasts). Emerging Market growth was again the key highlight, and an update on Safety Sales in Europe was a positive surprise.”

Brean Murray Carret maintains its Hold rating on Becton Dickinson, which closed yesterday at $77.51.