BD’s (BDX) Milestone Pandemic Orders to Support Vaccinations

Becton, Dickinson and Company BDX, popularly known as BD, recently announced that it has received pandemic orders for needles and syringes. The orders comprise 2 billion injection devices to lend support to global COVID-19 vaccination efforts.

In fact, BD has successfully delivered above 900 million injection devices globally to date, while the remaining orders will be delivered between now and the end of 2022 in order to support vaccine administration.

Notably, BD is supplying to more than 40 countries, non-governmental organizations and other partners when it comes to pandemic vaccination campaigns.

This announcement is likely to boost the company’s Medication Delivery Solutions business line, which is part of the broader BD Medical segment.

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BD remains focused toward its sustained efforts to provide support to government partners and non-governmental organizations to ensure that healthcare professionals on the front lines get these necessary injection devices to offer protection to their patients.

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Moreover, BD continues to carefully plan supply capabilities so that the company can commit maximum volumes to COVID-19 efforts, while lowering disruption for routine health care, annual flu vaccinations and childhood immunization programs.

Additionally, BD has announced several capital investments to broaden capacity for vaccination injection devices for the current and future pandemics. One of these is the collaboration with the U.S. government on a $70 million capital project to further extend BD’s operations and manufacturing capacity in Nebraska.

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Market Prospects

Per a report by MarketsandMarkets, the global market for syringes (worth $10.56 billion in 2016) is anticipated to reach $15.99 billion by 2021, witnessing a CAGR of 8.7% during the forecast period. Growing demand for vaccines, rising prevalence of chronic diseases across the world and increasing adoption of safety syringes are some of the factors driving the growth of this market.

Hence the announcement is well-timed for BD.

Recent Developments

This month, BD announced that it has been authorized as a Common Vulnerability and Exposures (“CVE”) Numbering Authority via the CVE Program. BD is the first medical technology company with such an authorization.

In May, BD announced the U.S. launch of a Urine Culture Application (“UCA”) for use with the BD Kiestra lab automation incubation and imaging system.

Also in May, the company announced the receipt of the CE mark for the industry’s first self-collection claim for human papillomavirus (HPV) screening.

Price Performance

Shares of the company have gained 5.7% in the past year compared with the industry’s rally of 33.5%.

Zacks Rank & Key Picks

Currently, BD carries a Zacks Rank #3 (Hold).

Some better-ranked stocks from the broader medical space are HCA Healthcare, Inc. HCA, DaVita Inc. DVA and Encompass Health Corporation EHC, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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HCA Healthcare’s long-term earnings growth rate is expected at 12.3%.

DaVita’s long-term earnings growth rate is estimated at 14.4%.

Encompass Health’s long-term earnings growth rate is projected at 17.3%.

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