Becton, Dickinson

1
Becton, Dickinson Co.
Covering Analyst Kristina Logvinenko klogvine_at_uor
egon.edu
2
Becton, Dickinson Co.

• Medical devices
• Instrument systems
• Reagents

3
Revenue Segments

• BD Medical
• BD Diagnostics
• BD Biosciences

4
Geographic Exposure

• United States
• Europe
• Asia Pacific
• Latin America

5
Acquisitions

• KIESTRA Lab
• Lab automation solutions
• Sirigen Group
• Molecular Diagnostics

6
Surgical And Medical Instrument Sector

• Demand Drivers
• Demographics
• Medical discoveries
• Mature Emerging markets

7
Downside Catalysts

• Reduced research funding
• Growth in the U.S. European markets
• Medical device tax

8
Upside Catalysts

• Innovative product launches
• Increase in earnings per share
• Intensive share buyback

9
Comparable Analysis
10
DCF Analysis
11
Recommendation Hold
12
Questions
13
Recommendation Hold

• Diversified product portfolio
• Strategic acquisitions
• Growth in emerging markets