Professional
Added to YB: 2025-11-26
Pitch date: 2025-11-24
BDX [bullish]
Becton, Dickinson and Company
+1.83%
current return
Author Info
Idea Brunch is an interview series where great off-the-beaten-path investors share their best ideas and insights about their research process. Yellowbrick users get a 20% discount for life
Company Info
Becton, Dickinson and Company develops, manufactures, and sells medical supplies, devices, laboratory equipment, and diagnostic products for healthcare institutions, physicians, life science researchers, clinical laboratories, pharmaceutical industry, and the general public worldwide.
Market Cap
$55.2B
Pitch Price
$191.97
Price Target
300.00 (+53%)
Dividend
2.18%
EV/EBITDA
13.09
P/E
33.11
EV/Sales
3.38
Sector
Health Care Equipment and Supplies
Category
special_situation
Idea Brunch #2 with Marc Werres of Hinde Group - Becton, Dickinson and Company
BDX: Medical device giant ($21B revenue) spinning off $3.3B Biosciences unit to Waters via reverse Morris trust, receiving $18.8B ($64/share) by Q1 2026. Trading 3.5x EV/revenue vs 5.6x divestiture multiple. Pro forma 'New BD' at <10x 2026 EPS despite 54% gross margins, stable demand, market-leading positions. $4B cash for buybacks, removing growth headwinds. Fair value ~$300/share.
Read full article (5 min)