Becton Dickinson & Co

BDX: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$979.00	Fjjhg	Pzqmtyr

Becton, Dickinson Delivers on the Margin Line; 2023 Outlook In Line With Long-Term Targets

Alex Morozov

Nov 10, 2022

We are maintaining our $306 fair value estimate for narrow-moat Becton, Dickinson as we update our model following fiscal fourth-quarter results and the 2023 guidance. BD's fourth-quarter performance was largely as expected, with 8.6% currency-neutral growth in its base business (excludes COVID-19 testing revenue) and gradually improving margins.

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