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Becton Dickinson (BDX) Surges 5.7%: Is This an Indication of Further Gains?
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Becton Dickinson (BDX - Free Report) shares ended the last trading session 5.7% higher at $279.97. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 3.2% gain over the past four weeks.
Becton Dickinson recorded a strong price increase after it received the FDA’s 510(k) clearance for its updated BD Alaris Infusion System. Following the regulatory clearance, management commented that the company is currently planning to return to full commercial operations with an enhanced and updated Alaris System.
This medical device manufacturer is expected to post quarterly earnings of $2.88 per share in its upcoming report, which represents a year-over-year change of +8.3%. Revenues are expected to be $4.83 billion, up 4% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Becton Dickinson, the consensus EPS estimate for the quarter has been revised marginally higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on BDX going forward to see if this recent jump can turn into more strength down the road.
Becton Dickinson is part of the Zacks Medical - Dental Supplies industry. SmileDirectClub , another stock in the same industry, closed the last trading session 0.7% lower at $0.68. SDC has returned 53.2% in the past month.
For SmileDirectClub, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.12. This represents a change of +29.4% from what the company reported a year ago. SmileDirectClub currently has a Zacks Rank of #2 (Buy).
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Becton Dickinson (BDX) Surges 5.7%: Is This an Indication of Further Gains?
Becton Dickinson (BDX - Free Report) shares ended the last trading session 5.7% higher at $279.97. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 3.2% gain over the past four weeks.
Becton Dickinson recorded a strong price increase after it received the FDA’s 510(k) clearance for its updated BD Alaris Infusion System. Following the regulatory clearance, management commented that the company is currently planning to return to full commercial operations with an enhanced and updated Alaris System.
This medical device manufacturer is expected to post quarterly earnings of $2.88 per share in its upcoming report, which represents a year-over-year change of +8.3%. Revenues are expected to be $4.83 billion, up 4% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Becton Dickinson, the consensus EPS estimate for the quarter has been revised marginally higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on BDX going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Becton Dickinson is part of the Zacks Medical - Dental Supplies industry. SmileDirectClub , another stock in the same industry, closed the last trading session 0.7% lower at $0.68. SDC has returned 53.2% in the past month.
For SmileDirectClub, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.12. This represents a change of +29.4% from what the company reported a year ago. SmileDirectClub currently has a Zacks Rank of #2 (Buy).