Core Insights - Becton, Dickinson and Company (BD) has formed a pharmacy automation partnership with Henry Ford Health to improve medication storage and prescription delivery, focusing on a robotic solution for 24/7 prescription pickup [1][9] Company Developments - The collaboration will utilize the BD Rowa Vmax pharmacy automation robot, initially enhancing prescription retrieval at Henry Ford Health's community pharmacies in Southeast and Central Michigan [2][4] - This partnership is a strategic move for BD to strengthen its Pharmacy Automation business within the Medication Management Solutions (MMS) unit of the BD Medical segment [3][9] - BD's management highlights the Rowa Vmax's reputation for high-speed, modular robotic storage, which is expected to improve patient access to prescriptions [4] Industry Prospects - The global pharmaceutical automation market is projected to grow from $8.38 billion in 2024 to $19.03 billion by 2032, with a compound annual growth rate (CAGR) of 10.8%, driven by increased robot usage and technological advancements [6] - The partnership with Henry Ford Health is anticipated to significantly enhance BD's position in this growing market [6] Performance Comparison - BD's MMS business unit reported solid growth in Pharmacy Automation during its third-quarter fiscal 2025 results, indicating robust performance in the sector [7] - Competitors such as Omnicell, McKesson, and Baxter International have also reported strong financial results and advancements in their pharmacy automation offerings, highlighting a competitive landscape [8][10][11]

Core Insights - BD (Becton, Dickinson and Company) has announced a pharmacy automation partnership with Henry Ford Health to create a future-oriented pharmacy system, focusing on a robotic solution for 24/7 prescription pickup [1][2]. Group 1: Partnership Details - The collaboration will utilize the BD Rowa™ Vmax, a high-capacity pharmacy automation robot, to improve prescription retrieval processes at Henry Ford Health's community pharmacies in Southeast and Central Michigan [2][3]. - This partnership aims to enhance patient-centered care and innovation within the health system pharmacy [3][4]. Group 2: Benefits of Automation - The BD Rowa™ Vmax is designed for high-speed, modular storage and dispensing of medications, which will improve patient access to prescriptions and streamline pharmacy operations [3][6]. - Key benefits include 24/7 prescription access, real-time tracking, and improved efficiency for pharmacy staff, allowing them to focus on higher-value patient care tasks [6][4]. Group 3: Company Overview - BD is one of the largest global medical technology companies, dedicated to advancing health through innovative technologies and solutions that enhance clinical therapy and care delivery [5][7]. - The company employs over 70,000 individuals and collaborates globally to address significant health challenges, aiming to improve outcomes and lower costs in healthcare [5][7].

Group 1 - Becton, Dickinson and Company (BDX) is recognized as a medical technology company currently undergoing a turnaround due to past challenges, including strategic missteps and a significant product recall [2][3] - The company has acquired the critical care product group from Edwards Lifesciences to enhance its core business and plans to spin off its biosciences and diagnostic solutions division, which is set to be purchased by Waters in a deal expected to close by 2026 [3] - BDX has a strong dividend history, with a 53-year track record of consistent payments, offering a quarterly dividend of $1.04 per share and a dividend yield of 2.22% as of September 19 [5] Group 2 - The planned spinoff of the biosciences and diagnostic solutions division is projected to be accretive to earnings in its first year, suggesting that the dividend should remain stable throughout the transition [4]

Core Insights - BD (Becton, Dickinson and Company) has successfully placed its 1,000th BD Rhapsody™ System at Addenbrooke's Hospital, marking a significant milestone in the adoption of its single-cell multiomics analysis technology [1][2]. Company Overview - BD is recognized as one of the largest global medical technology companies, focusing on improving medical discovery, diagnostics, and care delivery [5]. - The company employs over 70,000 individuals and operates in virtually every country, partnering with organizations to tackle global health challenges [5]. Product Highlights - The BD Rhapsody™ System, introduced in 2017, has been cited in over 700 peer-reviewed publications, demonstrating its impact in the scientific community [2]. - The latest version of the BD Rhapsody™, launched in 2023, features advanced sample processing and cell capture technologies, enhancing the efficiency of next-generation sequencing applications [2]. - Upcoming innovations include the BD OMICS-One™ WTA Next Assay for unlocking genetic information at a lower cost and BD® OMICS-Guard Cryo for sample preservation [6]. Market Demand - The rapid adoption of the BD Rhapsody™ System reflects a critical need for high-performing multiomic assays that maintain data quality while being cost-effective [3]. - The system is positioned to work seamlessly with leading cell sorters and analyzers, indicating a comprehensive end-to-end solution for single-cell analysis [3]. Research and Development - Research conducted by Dr. Andrew Conway Morris at Addenbrooke's Hospital aims to understand immune cell signaling pathways, with the BD Rhapsody™ System facilitating advanced analysis at the single-cell level [2]. - The company continues to innovate its workflows and product offerings to meet the evolving scientific needs [3]. Upcoming Events - The BD Rhapsody™ System will be showcased at the 2025 Annual Meeting of the American Society of Human Genetics and at Advancing Precision Medicine [4].

Dividend Announcements - Alphabet, Becton, Dickinson, and Rogers Communications will trade ex-dividend on 9/8/25 for their upcoming dividends [1] - Alphabet will pay a quarterly dividend of $0.21 on 9/15/25, Becton, Dickinson will pay $1.04 on 9/30/25, and Rogers Communications will pay $0.50 on 10/3/25 [1] Expected Price Adjustments - Alphabet's dividend represents approximately 0.09% of its recent stock price of $231.10, leading to an expected price drop of 0.09% on 9/8/25 [2] - Becton, Dickinson is expected to open 0.55% lower, while Rogers Communications is expected to open 1.40% lower, all else being equal [2] Historical Dividend Analysis - Historical dividend data can provide insights into the stability of future dividends, which is crucial for assessing annual yield expectations [7] - Current estimated annualized yields are 0.36% for Alphabet, 2.20% for Becton, Dickinson, and 5.60% for Rogers Communications [7] Market Performance - On the day of the report, Alphabet shares are up about 9%, Becton, Dickinson shares are up about 0.7%, and Rogers Communications shares are up about 0.4% [8]

Financial Data and Key Metrics Changes - The new BD reported approximately 4% growth in Q3, with expectations for mid-single-digit growth for the full year [11][12] - The company achieved 9.5% EPS growth at the midpoint, driven by margin expansion despite macroeconomic challenges [8][10] - Total capital return to shareholders for the year is projected to be about $2.2 billion, split between share buybacks and dividends [10] Business Line Data and Key Metrics Changes - BD Alaris has regained market share and is on track to complete the upgrade of its fleet within the three-year commitment made to the FDA [4][5] - The APM business saw a strong 13% growth in Q3, with expectations for continued strong performance as it becomes organic [28][30] - BD Interventional experienced double-digit growth, contributing to overall strong performance across the portfolio [27] Market Data and Key Metrics Changes - The company anticipates a decline in the China market due to value-based procurement, expecting high single-digit declines this year and mid to high single-digit declines next year [35][36] - BD Biosciences is expected to see sequential growth improvements as it transitions to Waters Corporation, with a strong win rate in the clinical reagent business [33][34] Company Strategy and Development Direction - The primary focus for the next 12 months includes completing the separation from the life sciences business and executing a commercial strategy [6][8] - The company is committed to a capital allocation strategy that prioritizes share buybacks, with at least half of the $4 billion cash from the separation allocated to this purpose [9][10] - The innovation pipeline is robust, with new products expected to drive growth in attractive markets such as biologic drug delivery and AI solutions [11][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate macroeconomic challenges, emphasizing the importance of scale and productivity improvements for customers [65][66] - The company is taking a prudent approach to guidance for fiscal 2026, acknowledging the dynamic macro environment while maintaining a long-term growth outlook [52][53] Other Important Information - The company has completed a $1 billion share buyback for the year, with plans for continued buybacks in the future [9][10] - The new AI-enabled Pyxis Pro platform is expected to enhance medication management and drive market share growth [41][45] Q&A Session Summary Question: What are the growth expectations for the new BD? - The new BD is expected to grow at a mid-single-digit rate, supported by a strong innovation pipeline and market positioning [11][12] Question: How does the company plan to allocate capital post-separation? - The company plans to allocate at least half of the $4 billion cash from the separation to share buybacks, with a focus on creating shareholder value [9][10] Question: What is the outlook for the China market? - The company expects high single-digit declines in the China market this year, with stabilization anticipated by the end of next year [35][36] Question: How is the company addressing macroeconomic challenges? - Management highlighted the importance of productivity improvements and scale for customers to navigate tighter funding environments [65][66]

Financial Data and Key Metrics Changes - The company reported a 9.5% EPS growth at the midpoint, driven by margin expansion despite macroeconomic challenges impacting revenue [8][10] - Total return to shareholders for the year is approximately $2.2 billion, with $1 billion through share buybacks and $1.2 billion through dividends [10] Business Line Data and Key Metrics Changes - The new BD grew about 4% in Q3, with expectations for mid-single digit growth for the full year [11][12] - BD Interventional saw double-digit growth in UCC and strong mid-single digit growth across other businesses [30] - Aleris is gaining market share and is expected to continue contributing positively to growth [45][46] Market Data and Key Metrics Changes - The company anticipates a decline in China operations by high single digits this year, stabilizing thereafter as 90% of the portfolio will have gone through value-based procurement (VBP) by the end of next year [42][43] - The Biosciences segment is expected to see sequential growth improvements as it transitions to Waters [37] Company Strategy and Development Direction - The primary focus for the next twelve months includes completing the separation from the Life Science business, executing a commercial strategy, and continuing margin expansion through BD Excellence [6][8] - The company is committed to utilizing at least half of the $4 billion cash from the separation for share buybacks [9][10] - The innovation pipeline is robust, with new products expected to drive growth in biologic drug delivery and AI solutions [12][18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate macroeconomic challenges, emphasizing the importance of productivity improvements for customers facing tighter funding environments [73][75] - The company is taking a prudent approach to guidance for FY 2026, recognizing the dynamic macro environment while maintaining a mid-single digit growth outlook [58][60] Other Important Information - The company has completed a $1 billion share buyback for the year, contributing to a total capital return of $2.2 billion to shareholders [10] - The new AI-enabled Pyxis Pro system is expected to enhance medication management and improve operational efficiencies [47][50] Q&A Session Summary Question: What is the growth algorithm for the new BD? - The new BD is expected to grow mid-single digits, supported by a strong innovation pipeline and market positioning [11][12] Question: How does the company define similar margin profiles post-separation? - Management indicated that the operating margin post-separation would be similar, within 50 to 100 basis points [23][24] Question: What are the drivers for the acceleration in Q4 guidance? - The acceleration is driven by strong performance in BD Interventional and the organic growth of APM, which is expected to contribute over a point to growth [29][32] Question: How is the company addressing macroeconomic challenges? - The company is focusing on productivity improvements and forming partnerships with customers to navigate tighter funding environments [73][75] Question: What is the expected impact of pricing on growth? - Pricing is currently flattish but is expected to return as a tailwind as the company maintains pricing discipline globally [66]

Financial Data and Key Metrics Changes - The new BD reported approximately 4% growth in Q3, with expectations for mid-single-digit growth for the full year [10][11] - The company achieved 9.5% EPS growth at the midpoint, despite macroeconomic challenges [7][12] - Total return to shareholders for the year is projected to be about $2.2 billion, including $1 billion from share buybacks and $1 billion from dividends [9] Business Line Data and Key Metrics Changes - BD Alaris is gaining market share and has a strong commercial execution post-return to market, with a commitment to upgrade the entire fleet within three years [4][5] - The APM business showed a strong 13% growth in Q3, and this growth will become organic moving forward [27][29] - BD Interventional experienced double-digit growth, contributing to overall strong performance across the portfolio [26] Market Data and Key Metrics Changes - The company anticipates a decline in the China market by high single digits this year, with expectations for stabilization post-2026 [33][34] - BD Biosciences is expected to see sequential growth improvements, driven by recovery in research spending [31][32] - Pharma systems are projected to recover in the back half of fiscal 2026, following a period of destocking [32] Company Strategy and Development Direction - The primary focus for the next 12 months includes completing the separation from Waters Corporation and executing a commercial strategy [6][8] - The company is committed to a capital allocation strategy that prioritizes share buybacks, with at least half of the $4 billion cash from the separation allocated to this purpose [8][9] - The new BD is positioned in attractive markets, including biologic drug delivery and AI solutions, supporting a mid-single-digit growth profile [10][69] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate macroeconomic challenges, emphasizing the importance of scale and productivity improvements for customers [64][65] - The company is taking a prudent approach to guidance for fiscal 2026, acknowledging the dynamic macro environment while maintaining a long-term growth outlook [50][51] - Management highlighted the importance of innovation and customer engagement in driving future growth, particularly with new product launches like Pyxis Pro [38][46] Other Important Information - The company has completed a $1 billion share buyback for the year, contributing to a total capital return of $2.2 billion to shareholders [9] - The introduction of AI-enabled platforms like Pyxis Pro is expected to enhance operational efficiency and customer satisfaction [39][41] Q&A Session Summary Question: What are the growth expectations for the new BD? - The new BD is expected to grow at a mid-single-digit rate, supported by a strong innovation pipeline and market positioning [10][11] Question: How does the company plan to allocate capital post-separation? - The company plans to allocate at least 50% of the $4 billion cash from the separation to share buybacks, with a focus on maximizing shareholder value [8][9] Question: What is the outlook for the China market? - The company expects a decline in the China market by high single digits this year, with stabilization anticipated after 2026 [33][34] Question: How is the company addressing macroeconomic challenges? - Management emphasized the importance of scale and productivity improvements, as well as strategic partnerships with customers to navigate the changing environment [64][65]

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Group 1 - BD (Becton, Dickinson and Company) will present at the Wells Fargo 2025 Healthcare Conference on September 3, 2025, at 8:00 a.m. Eastern Time [1] - A live webcast of the presentation will be available on BD's investor relations website, with a replay accessible after the event [1] Group 2 - BD is one of the largest global medical technology companies, focusing on improving medical discovery, diagnostics, and care delivery [2] - The company employs over 70,000 individuals and is committed to enhancing the safety and efficiency of healthcare delivery [2] - BD collaborates with organizations worldwide to tackle significant global health challenges, aiming to improve outcomes, reduce costs, and expand healthcare access [2]