Becton, Dickinson (BDX) and West Pharmaceutical (WST) Decline Following Strong Initial Prescription Figures for Novo Nordisk's Wegovy
Written by Emily J. Thompson, Senior Investment Analyst
Source: seekingalpha
- Market Reaction: Following strong initial prescription figures for Novo Nordisk's oral weight loss drug Wegovy, Becton, Dickinson (BDX) and West Pharmaceutical (WST) saw stock declines of approximately 2% and 5%, respectively, as concerns grow over oral GLP-1s potentially cannibalizing injectable GLP-1 market share.
- Sales Impact: JP Morgan analyst Robbie Marcus noted that BDX's syringe exposure to GLP-1s is less than 2% of sales, indicating that while the strength of oral GLP-1s may reduce total market opportunities, injectables are still expected to play a crucial role in treatment paradigms.
- Investment Dynamics: BDX's $110 million investment in Nebraska aims to enhance U.S. drug delivery solutions, reflecting the company's commitment to future market demands despite current competitive pressures from oral medications.
- M&A Activity: West Pharmaceutical is set to acquire a manufacturing facility in Arizona from AbbVie, further expanding its production capabilities, although market sentiment remains cautious regarding its future performance.
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Analyst Views on BDX
Wall Street analysts forecast BDX stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for BDX is 202.38 USD with a low forecast of 183.00 USD and a high forecast of 220.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
8 Analyst Rating
3 Buy
5 Hold
0 Sell
Moderate Buy
Current: 201.920
Low
183.00
Averages
202.38
High
220.00
Current: 201.920
Low
183.00
Averages
202.38
High
220.00
About BDX
Becton, Dickinson and Company is a global medical technology company. The Company is engaged in the development, manufacture and sale of a broad range of medical supplies, devices, laboratory equipment and diagnostic products used by healthcare institutions, physicians, life science researchers, clinical laboratories, and more. Its BD Medical segment produces an array of medical technologies and devices that are used to help improve healthcare delivery in a range of settings. The BD Medical segment consists of various business units, including medication delivery solutions, medication management solutions, advanced monitoring, and pharmaceutical systems. Its BD Life Sciences segment provides products for the collection and transport of diagnostics specimens, and instruments and reagent systems to detect a range of infectious diseases, healthcare-associated infections and cancers. Its BD Interventional segment provides vascular, urology, oncology and surgical specialty products.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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