With a market cap of $64.3 billion, Becton, Dickinson and Company (BDX) is a global medical technology firm developing and selling medical devices, laboratory equipment, and diagnostic products. The Franklin Lakes, New Jersey-based company operates through three segments: BD Medical; BD Life Sciences; and BD Interventional, serving healthcare providers and researchers worldwide.

Shares of the medical device manufacturer have underperformed the broader market over the past 52 weeks. BDX has decreased 4.8% over this time frame, while the broader S&P 500 Index ($SPX) has gained 30.1%. In 2024, BDX stock declined 8.8%, compared to SPX's 24.1% YTD gain.

Looking closer, BDX stock has also lagged behind the Health Care Select Sector SPDR Fund's (XLV) 10.7% rise over the past 52 weeks and a 4.8% increase on a YTD basis.

Despite reporting better-than-expected Q4 adjusted EPS of $3.81 and revenue of $5.4 billion, shares of BDX dipped 5.4% on Nov. 7 due to underperformance in the Life Sciences segment, which missed sales expectations, raising concerns about growth in diagnostics and research tools. Investors were also concerned about the impact of higher costs related to the recent acquisition of Edwards Lifesciences' critical care products, potentially squeezing margins. Additionally, cautious sentiment around the fiscal 2025 organic revenue growth target of 4%-4.5%, amid uncertainties in macroeconomic conditions, contributed to the stock's decline.

For the current fiscal year, ending in September 2025, analysts expect BDX's EPS to grow 9.8% year-over-year to $14.43. The company's earnings surprise history is promising. It beat the consensus estimates in the last four quarters. 

Among the 17 analysts covering the stock, the consensus rating is a “Strong Buy.” That’s based on 14 “Strong Buy” ratings, one “Moderate Buy,” and two “Holds.” 

This configuration is slightly more bullish than three months ago, with 13 “Strong Buy” ratings on the stock.

On Oct. 2, Evercore ISI analyst Vijay Kumar raised the price target for BDX to $290, maintaining an “Outperform" rating due to positive MedTech utilization trends and a healthy capex outlook for the coming year. The analyst also added Becton Dickinson to the firm's "Tactical Outperform" list, highlighting optimism for Q3 results alongside other MedTech and life sciences companies.

As of writing, BDX is trading below the mean price target of $278.07. The Street-high price target of $312, implies a modest potential upside of 40.3% from the current price levels.