Upcoming AWS Coverage on Cooper Companies Post-Earnings Results

LONDON, UK / ACCESSWIRE / February 16, 2017 / Active Wall St. announces its post-earnings coverage on Becton, Dickinson and Co. (NYSE: BDX) ("BD"). The Company reported its first quarter fiscal 2017 financial results for the fourth quarter and fiscal on February 01, 2017. The medical technology firm surpassed top- and bottom-line expectation and raised its earnings outlook. Register with us now for your free membership at:

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One of Becton, Dickinson and Co.'s competitors within the Medical Instruments & Supplies space, The Cooper Companies, Inc. (NYSE: COO), announced on February 01, 2017, that it will release its Q1 2017 financial results on Thursday, March 02, 2017, at 4:15 PM ET. Following the release, the Company will host a conference call at 5:00 PM ET to discuss the results and current corporate developments. AWS will be initiating a research report on Cooper Cos. a few days following its earnings release.

Today, AWS is promoting its earnings coverage on BDX; touching on COO. Get our free coverage by signing up to:

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Earnings Reviewed

For the first fiscal quarter ended December 31, 2016, BD reported quarterly revenues of $2.922 billion, down 2.1% from the prior-year same period revenues, due to the divestiture of the Respiratory Solutions business that was completed in October 2016. On a comparable, currency-neutral basis, the reported quarter revenues grew 6.1%. BD's revenue figures surpassed analysts' consensus of $2.85 billion.

On a performance basis, BD's gross profit margin improved by 190 basis points compared to the year ago same quarter at 54.3%. This growth was driven by continuous improvement initiatives, cost synergies, and favorable mix which include the positive impact of divestitures. On an operating margin basis, the Company delivered an approximately 250 basis points of margin expansion to 23.8%, as it continues to drive cost synergies. In addition, margin expansion was positively impacted by the divestiture of the respiratory solutions business.

For Q1 FY17, BD's diluted earnings per share were $2.58 compared to $1.06 in the prior-year comparable period. This represents an increase of 143.4% and is primarily due to a litigation reserve reversal following a favorable appellate antitrust ruling. The Company's adjusted diluted earnings per share were $2.33 in the reported quarter compared to $1.96 in the prior-year same period. This represents an increase in adjusted diluted earnings per share of 18.9%, or 19.4% on a currency-neutral basis. The earning numbers comfortably surpassed Wall Street's expectations of $2.12 per share.

Segment Results

During Q1 FY17, in the BD's Medical segment, worldwide revenues totaled $1.964 billion down 4.4% from Q1 FY16 due to the divestiture of the Respiratory Solutions business. On a comparable, currency-neutral basis, revenues increased 7.5%. Performance in the Pharmaceutical Systems and Medication Management Solutions units was positively impacted, in part, by the timing of customer orders and capital placements, respectively, which occurred in Q1 FY17, earlier than the Company initially anticipated.

In the BD Life Sciences segment, worldwide revenues for Q1 FY17 were $958 million, an increase of 2.7% over the prior-year comparable period, or an increase of 3.2% on a currency-neutral basis. The segment's revenue growth reflects strong performance in the Diagnostic Systems and Preanalytical Systems units.

Geographic Results

For Q1 FY17, BD's revenue in the US was $1.63 billion, a decrease of 3.6% from the prior-year same period due to the aforementioned divestiture. On a comparable basis, US revenues increased 5.5%. Within BD's Medical segment, growth was driven by strong performance in the Medication Management Solutions and Diabetes Care units. Growth in BD's Life Sciences segment was driven by solid growth in the Diagnostics Systems unit, and favorable timing of orders in Advanced Bioprocessing in the Biosciences unit.

For Q1 FY17, BD's revenues outside of the US of $1.292 billion were about flat when compared with the prior year corresponding period due to the aforementioned divestiture. On a comparable, currency-neutral basis, revenues outside of the US increased 6.8%. For the international region within BD's Medical segment, growth was driven by capital installations in the Medication Management Solutions unit, and strength in the Pharmaceutical Systems unit, which was aided in part by the aforementioned timing of customer orders. Growth in BD's Life Sciences segment reflects sales of safety-engineered products, and strength in Latin America and Asia/Pacific in the Diagnostic Systems unit, including a favorable comparison to the prior-year's same period in China.

Fiscal 2017 Outlook

BD expects FY17 revenues to decrease 3.5% to 4.0%, down compared to the previously issued guidance of a decrease of 3.0% to 3.5% due to the incrementally negative estimated impact from foreign currency. The Company continues to estimate that revenues for FY17 will increase 4.5% to 5.0% on a comparable, currency-neutral basis.

The Company now expects FY17 diluted earnings per share to be between $7.90 and $8.00, which represents growth of approximately 76.0% to 78.0%. On a currency-neutral basis, the Company is raising FY17 adjusted diluted earnings per share to $9.70 to $9.80, which represents growth of 13.0% to 14.0% including an estimated 1.5% of dilution related to the Respiratory Solutions divestiture. This is an increase from previously issued guidance of $9.62 to $9.72, which represented approximately 12.0% to 13.0 % growth.

Stock Performance

On February 15, 2017, Becton, Dickinson and Co.'s share price finished the trading session at $180.09, slightly advancing 0.74%. A total volume of 855.05 thousand shares exchanged hands. The stock has advanced 3.85% and 27.05% in the last month and past twelve months, respectively. Furthermore, since the start of the year, shares of the Company have gained 8.78%. The stock is trading at a PE ratio of 29.93 and has a dividend yield of 1.62%.

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