Becton to Pare Part of Life Sciences Unit to Boost Stock (1)

Becton Dickinson & Co. said it’s planning to separate part of its life sciences segment in a move aimed at raising the medical technology company’s stock.

The separation will leave the company as a pure-play medical technology firm, Becton Dickinson said Wednesday in a statement. The shares fell as much as 5.2% as of 12:12 p.m. Thursday in New York.

Becton will break out the biosciences and diagnostic solutions component of life sciences while retaining the specimen management business. Accounting for the move, Becton Dickinson expects to have fiscal 2024 revenue of approximately $17.8 billion.

While anticipated by ...