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Fly News Breaks for February 6, 2020
Feb 6, 2020 | 10:43 EDT
William Blair analyst Brian Weinstein said Becton Dickinson's Q1 beat in the quarter will be overlooked by investors, whose "more pressing concern" is the significant reduction in both revenue and earnings guidance for the remainder of the year. Given the magnitude of the revenue guidance cut, he believes the selloff is "unwarranted" and "seems overdone," Weinstein tells investors. He believes business, outside of the Alaris pump, "some wiggles in China on coronavirus and pricing in the peripheral catheter business," is operating on solid footing and showed nice upside in the quarter in many cases, Weinstein added. He keeps an Outperform rating on Becton Dickinson shares, which are down $31.11, or about 11%, to $254.88 in morning trading.