Results round-up: Positive quarters for BD, HeartWare, Integra
This article was originally published in Clinica
Becton Dickinson’s Q2 adjusted earnings of $1.53 per share grew 10% year-on-year and beat analyst predictions by $0.03. The firm was helped by “better profitability and a lower tax rate [that] more than offset slightly weaker revenue growth due to currency,” noted Jefferies analyst Brandon Couillard. The firm’s sales increased 4% year-on-year to $2.07bn, or 5% on a constant currency basis. However, its diagnostics division was “surprisingly weak,” with revenues down 1% (or +1% at constant exchange rates). This was offset by 5% and 8% growth in BD’s medical and biosciences units, respectively. Overall, the results “should inspire confidence in the prospects of a restoration of a double-digit growth trajectory in FY15, which should pique incremental investor attention,” concluded Mr Couillard. BD’s stock closed down 1% on 1 May, the day it reported the results, but its share price was up over 1% as Clinica went to press.