Becton Dickinson's stock soared 6.65% during intraday trading on Thursday, driven by the medical technology company's strong quarterly results and improved financial outlook.
The company reported fiscal second-quarter adjusted earnings of $2.90 per share, beating analysts' estimates of $2.77. Revenue for the quarter reached $4.71 billion, also exceeding expectations of $4.67 billion. The strong performance was attributed to robust demand for the company's drug-delivery devices and surgical equipment, particularly for injectable diabetes and obesity treatments.
Becton Dickinson raised its full-year adjusted earnings per share guidance to a range of $12.52 to $12.72, up from its previous forecast of $12.35 to $12.65. The company also announced the appointment of Vitor Roque as its permanent chief financial officer, effective immediately. Management expressed confidence in maintaining revenue growth momentum through the remainder of the fiscal year.