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Wednesday, 04/10/2002

BDX - Becton Dickinson & Co.

Company Description

BD (Becton, Dickinson and Company) is a medical technology company that serves healthcare institutions, life science researchers, clinical laboratories, industry and the general public. BD manufactures and sells a broad range of medical supplies, devices, laboratory equipment and diagnostic products.

BD Medical Systems is comprised of four primary product areas: BD "Core" Medical Systems, which includes injection syringes and needles, infusion therapy devices, anesthesia needles, surgical blades and scrubs and critical care devices; BD Consumer Healthcare, including insulin syringes and pen needles, and elastic support products; BD Pharmaceutical Systems, which sells prefillable injection devices directly to pharmaceutical companies who then provide them in a prefilled format to hospitals and physicians; BD Ophthalmic Systems, which manufactures ophthalmic surgical blades and cannulas used for eye surgery procedures, primarily cataract surgery.

BD Clinical Laboratory Solutions is a newly formed segment comprised of two major product areas-BD Preanalytical Solutions and BD Diagnostic Systems-that were created to provide system solutions to clinical laboratories' most pressing problems. This approach enables BD Clinical Laboratory Solutions to benefit from its well-established presence in the laboratory and to leverage the recognized brand equity of its products.

BD Biosciences is a provider of products and services for researchers and laboratorians around the world, offering integrated solutions for supporting the life sciences and for accelerating the pace of discovery. BD Biosciences offers integrated, high-value applications in drug discovery and development, immune function monitoring, and functional genomics.

(Source: Becton Dickinson)

Reasons To Invest

Shares of Becton Dickinson are garnering a premium in this market. The company's expected annual earnings growth rate of about 11 percent over the next five years is appealing to those in search of quality earnings growth. The company is expected to report a 16 percent increase in quarterly profits over the same period one year ago. The company's earnings growth is expected to come from continued strong results from its medical devices and Biosciences products.

The strength in the broader health care segment of the market is impressive and reveals a bullish improvement in the broader business. BDX itself has displayed strong share price performance this year. Shares of the company were about 14 percent higher in the first quarter alone.

The relative strength of the stock as well as the business should persist through this year and next. Technically, the stock is emerging from a 15 month base, which has seen shares trade between the $30 and $38 range. With the stock poised to breakout, longer term investors can look to begin accumulating shares into a new upward trend.

DRIP Information:
Shares to Qualify = 1           Accept Foreign Accounts: Yes
Auto-reinvestment = No          Temper Enrollment Serv:  Yes

Min/Max Investment = $50 to unlimited

Reinvestment Fees -

Div : 0 
Cash: 0
Auto: N/A

Transfer Agent:

First Chicago Trust


Industry Group: Electric Utility  52-week high=$38.62
Annual Dividend Per Share=  0.39  52-week low =$29.96
Last earnings 01/20   est = 0.34  actual = 0.37
Next earnings 04-25   est = 0.50  versus = 0.42
                                     P/E =   22
Analyst Ratings:
Strong Buy    = 1
Moderate Buy  = 6
Hold          = 8
Moderate Sell = 0
Strong Sell   = 0


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