Medical technology firms such as Becton, Boston Scientific, and Abbott Laboratories have experienced a rise in demand for elective surgical procedures, particularly among the elderly. New Jersey-based Becton anticipates adjusted earnings per share between $14.25 and $14.60 for fiscal year 2025, with the midpoint above analysts' estimate of $14.34, according to data from LSEG.
On Thursday, Becton Dickinson reported fourth-quarter results that surpassed analysts' expectations, fueled by high demand for its drug delivery devices. Medical technology firms, including Becton, Boston Scientific, and Abbott Laboratories, have been experiencing a strong demand for non-essential surgical procedures, particularly from older adults.
Becton, a manufacturer and distributor of medical and surgical products like needles, syringes, and disposal units, reported an 11.1% rise in revenue, reaching $2.84 billion for the quarter ending on September 30, while analysts had estimated $2.75 billion.
However, the company's life sciences unit, which provides diagnostic devices, fell short of sales expectations. In September, Becton completed its acquisition of critical care products from Edwards Lifesciences, which included advanced blood and heart monitoring systems. The company had projected that the acquisition would immediately contribute to all key financial metrics.
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Becton reported total revenue of $5.44 billion for the fourth quarter, surpassing analysts' estimate of $5.38 billion.
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