Shares of Becton Dickinson & Co. BDX, +2.63% rallied 2.3% in premarket trading Tuesday, after the medical technology company provided an upbeat outlook for its first quarter. For the quarter ended Dec. 31, the company expects to report revenue of $5.3 billion, up 26% from a year ago and above the FactSet consensus of $4.7 billion. Medical segment revenue is set to increase 7.9% to $2.3 billion, above the FactSet consensus of $2.06 billion, while life sciences revenue is expected to be up 76% to $2.0 billion, beating expectations of $1.63 billion. The company expects COVID-19 testing revenue to be $865 million. The company now expects full-year revenue growth to be at the “upper end” of its previous guidance range of high single to low double digits. Becton Dickinson is projected to report first-quarter results on or about Feb. 11, according to FactSet. The stock has gained 7.9% over the past three months through Monday, while the SPDR Health Care Select Sector ETF XLV, -0.12% has advanced 8.1% and the S&P 500 SPX, +0.02% has tacked on 7.5%.
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