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FRANKLIN LAKES, N.J. - BD (Becton, Dickinson and Company) (NYSE: BDX), a global medical technology firm, announced today that it has exceeded its greenhouse gas (GHG) emissions reduction targets for the fiscal year 2023.
The company achieved an 18 percent reduction in Scope 1 and Scope 2 emissions, surpassing its goal by 5 percentage points. This milestone aligns with BD's commitment to reach net-zero GHG emissions across its value chain by the fiscal year 2050.
The Science Based Targets initiative (SBTi) has approved BD's near-term and long-term emissions reduction targets, validating the company's efforts against scientifically backed standards. This endorsement is a testament to BD's strategic approach to sustainability and its role in addressing the broader climate impact of the healthcare sector, which accounts for nearly 5 percent of global emissions.
Maureen Mazurek, BD's Chief Sustainability and EHS Officer, emphasized the importance of collaborative efforts across the industry to achieve meaningful progress in reducing environmental footprints. The company's proactive measures include doubling the number of sites utilizing Green Electric Power and on-site renewable energy sources like solar power since FY 2019.
In addition to its operational advancements, BD has also committed to the White House HHS Health Sector Climate Pledge, aiming to cut its Scope 1 and Scope 2 GHG emissions by 50 percent by 2030, based on a 2019 baseline.
The company's sustainability achievements are detailed in the Fiscal Year 2023 Together We Advance Corporate Sustainability Report, which was released today.
This announcement is based on a press release statement from BD.
In other recent news, Becton, Dickinson and Company (BD) reported a successful second fiscal quarter in 2024, surpassing expectations with robust revenue growth and margin performance. A significant contributor to this success was the Alaris system, which saw first-half sales exceed the total sales of the previous fiscal year.
In addition to these developments, BD announced the acquisition of Edwards Lifesciences (NYSE:EW)' Critical Care division for $4.2 billion, a move expected to enhance BD's portfolio of smart connected care solutions.
Another noteworthy development was the initiation of coverage on BD stock by Goldman Sachs with a Buy rating, based on the anticipation of above-market revenue growth driven by new product launches. The investment bank also projected a shift in BD's earnings momentum, resulting in a 10% earnings growth through the fiscal year 2027.
InvestingPro Insights
Amid its significant strides in sustainability, BD (Becton, Dickinson and Company) (NYSE: BDX) also presents an interesting profile from a financial perspective. The company has a robust track record of dividend reliability, having increased its dividend for 53 consecutive years, which is indicative of its commitment to shareholder returns. This streak continues with the company maintaining dividend payments for an impressive 54 consecutive years, showcasing its financial stability and investor confidence.
From a valuation standpoint, BD is currently trading at a high earnings multiple with a P/E ratio of 48.58. However, when adjusted for the last twelve months as of Q2 2024, the P/E ratio stands at a more moderate 31.04. This could suggest a potential reevaluation by investors as the company continues to grow its net income, which is expected to increase this year. Additionally, with a market capitalization of $64.01 billion and a revenue growth of 4.82% in the last twelve months as of Q2 2024, BD demonstrates a solid financial foundation.
Investors looking for stability may also take note of BD's low price volatility, an attribute that can be particularly appealing in uncertain market conditions. Moreover, those interested in further insights can explore additional InvestingPro Tips for BD, such as its performance as a prominent player in the Healthcare Equipment & Supplies industry and its trading near a 52-week low, which could present a buying opportunity for value investors. For a deeper dive into BD's financial health and future prospects, there are 6 more InvestingPro Tips available at https://www.investing.com/pro/BDX. Readers can use the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription, gaining access to valuable investment insights.
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