I will occasionally employ the use of conservative option strategies to generate additional income. This article provides an update on option positions for 4 companies in which I own the underlying shares. I continue to be dumfounded as to the extent to which the share price of several companies have appreciated in the last [...]
Becton, Dickinson and Company (BDX) has just released Q2 results which includes lowered FY2019 earnings guidance. Based on my analysis and long-term prognosis I view BDX as currently being undervalued. Summary BDX recently released Q2 results and lowered FY2019 guidance resulting in a sudden drop in the share price. Management expects the second half of [...]
Employing out-of-the-money short-term covered calls can help you generate additional income. This article touches upon such a strategy I have successfully employed. A significant percentage of our investments are held in accounts that are separate and distinct from those which are included in the FFJ Portfolio. While I do not disclose specific details related [...]
Summary Becton Dickinson released its Q1 2019 results and held FY2019 guidance steady from that released November 6th when Q4 and FY2018 results were released. BDX’s credit rating was revised lower by Moody’s and S&P Global as a result of the debt taken on for the Carefusion and CR Bard acquisitions. BDX, however, continues to [...]
Summary Becton Dickinson released its Q4 and FY2018 results and FY2019 Guidance on November 6th. Integration of Carefusion and C.R. Bard is proceeding as planned and management expects strong underlying growth of approximately 16% - 17% on a currency-neutral basis which is in excess of the C.R. Bard deal model. BDX expects to deliver adjusted [...]
On November 6, 2018 Becton Dickinson (BDX) released Q4 and FY2018 results and provided guidance for FY2019. BDX is making good progress with the integration of Carefusion and C.R. Bard. Management is committed to deleveraging the Balance Sheet to below 3x over 3 years and $1.2B of debt was repaid in FY2018 which is slightly [...]
Not all investment decisions are made solely on a company's financial performance. In the case of my long-term investment in Philip Morris (PM), I no longer am willing to accept that I have invested in a company which provides no benefit to society. I have decided to liquidate my shares in Philip Morris and to [...]
Events Subsequent to January 10, 2018 Post The following is an update to my January 10, 2018 Becton Dickinson (NYSE: BDX) article. On January 23, 2018, BDX held its Annual Meeting of Shareholders and reaffirmed its guidance. Details are as follows: [...]
Summary Becton Dickinson closed the acquisition of CR Bard on December 29, 2017 thus resulting in projected FY2018 annual revenue of ~$16B versus ~$12B in FY2017. The company’s risk profile has changed dramatically as a result of the debt taken on to acquire CareFusion and CR Bard. Debt is now non-investment grade-speculative and lower medium [...]
