Aug 1 (Reuters) - Becton Dickinson ( BDX ) reported a
better-than-expected third-quarter profit on Thursday, helped by
strong demand for its drug-delivery devices.
Medical technology firms such as Becton,
Boston Scientific ( BSX ) and Abbott Laboratories ( ABT )
are benefiting from a boost in demand as more people, especially
older patients, catch up on surgeries that were put on hold
during the pandemic.
Becton manufactures and distributes medical and surgical
products such as needles, syringes and disposal units.
In June, Becton agreed to buy Edwards Lifesciences' ( EW )
critical care products unit in an all-cash deal valued at $4.2
billion to bulk up its portfolio of patient-monitoring devices.
The device maker had said the deal was expected to add
immediately to all its key financial measures.
Becton's medical unit, the company's largest segment that
makes devices to administer drugs, reported a 5.1% rise in
quarterly sales to $2.56 billion, above analysts' estimates of
$2.52 billion, according to LSEG data.
The New Jersey-based group raised the low end of its
full-year adjusted profit forecast range to $13.05 from $12.95,
keeping the top end unchanged at $13.15.
The company earned $3.50 per share on an adjusted basis in
the third quarter through June 30, beating analysts' estimates
of $3.31 per share.