What smart money is saying about Becton, Dickinson and Company
10 funds in our archive have pitched Becton, Dickinson and Company, most recently 1578 Partners, LP in March 2026.
Operating globally, Becton, Dickinson and Company (BD) is a prominent enterprise focused on the development, manufacturing, and distribution of a broad spectrum of medical technology. This includes essential medical supplies, sophisticated devices, advanced laboratory equipment, and critical diagnostic products. Its extensive customer base comprises healthcare providers, clinical institutions, medical researchers, pharmaceutical firms, and the general public around the world. The BD Medical division delivers a comprehensive suite of products primarily focused on medication management and drug delivery. This encompasses a variety of intravenous (IV) access solutions, such as peripheral and advanced catheters, central lines, acute dialysis catheters, and related vascular care items including needle-free connectors and closed-system drug transfer devices. It also provides essential injection equipment like hypodermic syringes, needles, anesthesia trays, enteral syringes, and sharps disposal systems. Additionally, this segment develops integrated systems for IV medication and infusion therapy, medication compounding workflow, automated dispensing, and supply chain optimization. Specialized products for diabetes management, including pen needles, along with prefillable drug delivery systems, are also key offerings. BD Life Sciences focuses on diagnostic and research tools, offering products for specimen and blood collection. This segment supplies automated systems for culturing blood and tuberculosis, molecular testing, microorganism identification, and drug susceptibility analysis. It also provides liquid-based cytology systems, rapid diagnostic assays, microbiology laboratory automation, and plated media. Furthermore, it offers advanced solutions for cell analysis, including fluorescence-activated cell sorters and analyzers, antibodies, kits, and reagent systems. These are crucial for single-cell gene expression analysis, as well as for clinical oncology, immunological, and transplantation diagnostics and monitoring. Finally, the BD Interventional segment delivers specialized products for surgical and interventional procedures. Its portfolio includes solutions for hernia and soft tissue repair, biological and bioresorbable grafts, and biosurgery, alongside other surgical products. This segment also addresses surgical infection prevention, provides a range of surgical and laparoscopic instrumentation, offers peripheral intervention products, and supplies urology and critical care devices. Established in 1897, the company maintains its headquarters in Franklin Lakes, New Jersey.
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Fund signal · last 12 months
27 lettersFunds are split between buying and selling
Moves described in fund letters in our archive. A sentence published word for word by several funds of one house in the same quarter counts once.
Position history
Between Q4 2024 and Q3 2026, 28 fund letters reported a position in Becton, Dickinson and Company, with 3 buys (opened or added) and 3 sells (trimmed or exited).
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 13 | 0 | 0 | 0 |
| Q2 2026 | 7 | 0 | 3 | 0 |
| Q1 2026 | 6 | 3 | 0 | 2 |
| Q4 2025 | 1 | 0 | 0 | 0 |
| Q3 2025 | 0 | 0 | 0 | 3 |
| Q2 2025 | 1 | 0 | 0 | 3 |
| Q4 2024 | 0 | 0 | 0 | 2 |
Bought and Sold count moves: the same sentence published by several funds of one house in a quarter counts once.
Fund activity · 28 positions · 7 moves
- September 2026
“ Becton, Dickinson and Company (BDX) reported yet another strong quarter (FQ3) with organic growth well ahead of consensus expectations, as management continues to rebuild credibility in the newco-BDX (since the BLS spin to Waters Corp in February).”
Becton, Dickinson and Company - September 2026
“Performance Overview Relative performance in the quarter showed a mix of positives and negatives in most sectors, with few major factors dominating. Our IT underweight detracted, although our positioning in the sector contributed positively: not owning the high-beta cyclical picks and shovels beneficiaries of the AI infrastructure buildout helped as these stocks sold off in the third quarter. However, our measured and underweight positions in Apple, Nvidia and Microsoft detracted. Our energy overweight contributed, although our positioning detracted as Williams sold off modestly as investors impatiently await additional data center projects; ExxonMobil, on the other hand, rose as higher oil prices lifted producer revenue and earnings expectations. In health care, Becton Dickinson rose as the sector rebounded from depressed valuations, helped by a rotation away from crowded AI positions.”
Becton, Dickinson and Company - September 2026
“Becton, Dickinson & Co. United States 1.4 Health Care Equipment & Supplies”
Becton, Dickinson and Company - September 2026
“AstraZeneca plc United Kingdom 0.9 Pharmaceuticals Becton, Dickinson & Co. United States 1.2 Health Care Equipment & Supplies”
Becton, Dickinson and Company - September 2026
“Health care holdings also contributed, led by U.S.-based medical-technology company Becton Dickinson.”
Becton, Dickinson and Company - September 2026
Listed in Oakmark Global Select Fund’s reported holdings.
Becton, Dickinson and Company - September 2026
“Becton Dickinson (BDX), a manufacturer of a broad portfolio of medical supplies, devices, and diagnostics, was the third-largest contributor. The stock’s valuation responded favorably to better than expected quarterly results, highlighted by accelerating organic revenue growth, broad-based strength across BDX’s expansive portfolio, and dissipating headwinds in several end markets that had suppressed recent growth rates.”
Becton, Dickinson and Company - September 2026
“6. Health Care has contributed positively to performance, primarily due to stock selection, with positive contributions from Thermo Fisher Scientific Inc. (TMO), Danaher Corporation (DHR), Waters Corporation (WAT), Becton, Dickinson and Company (BDX), and Solventum Corporation (SOLV), all more than offsetting negative performance from QIAGEN NV (QGEN).”
Becton, Dickinson and Company - September 2026
“ Becton, Dickinson and Company (BDX) reported yet another strong quarter (FQ3) with organic growth well ahead of consensus expectations, as management continues to rebuild credibility in the newco-BDX (since the BLS spin to Waters Corp in February).”
Becton, Dickinson and Company - September 2026
“Largest Contributors ConocoPhillips (COP), one of the largest international E&P companies with a scaled and well-diversied portfolio of assets, was the largest contributor. The stock beneted from higher commodity prices and solid quarterly results, including disciplined operating costs and strong cash ow generation. COP's large, low cost of supply resource base and diversied portfolio across conventional and unconventional assets position it well to generate resilient cash ows through commodity cycles. Management expects free cash ow to grow meaningfully over the next several years as capital and operating costs decline and its LNG projects and Willow come online, supporting continued dividends and share repurchases. Becton Dickinson (BDX), a manufacturer of a broad portfolio of medical supplies, devices, and diagnostics, was the second-largest contributor.”
Becton, Dickinson and Company - September 2026
“Largest Contributors Becton Dickinson (BDX), a manufacturer of a broad portfolio of medical supplies, devices, and diagnostics, was the largest contributor.”
Becton, Dickinson and Company - September 2026
“Becton Dickinson (BDX), a manufacturer of a broad portfolio of medical supplies, devices, and diagnostics, was the second-largest contributor.”
Becton, Dickinson and Company - September 2026
“Becton Dickinson (BDX), a manufacturer of a broad portfolio of medical supplies, devices, and diagnostics, was the second-largest contributor.”
Becton, Dickinson and Company - June 2026
“We also exited the small position in Waters we had received following its spinoff from Becton Dickinson in the first quarter.”
Becton, Dickinson and Company - June 2026
“We exited positions in Becton Dickinson and UCB in the health care sector, Webster Financial, MGIC Investment and Ryan Specialty Holdings in the financials sector, American Homes 4 Rent in the real estate sector and TFI International in the industrials sector.”
Becton, Dickinson and Company - June 2026
“Becton Dickinson was eliminated during the quarter.”
Becton, Dickinson and Company - June 2026
“Becton Dickinson was eliminated during the quarter.”
Becton, Dickinson and Company - June 2026
“Becton Dickinson (BDX), a developer, manufacturer, and seller of a broad portfolio of medical supplies and devices, was the third-largest detractor.”
Becton, Dickinson and Company - June 2026
“• Shares of financial services firm Morgan Stanley, medical technology company Becton, Dickinson and Company and property and casualty insurer Hartford Insurance Group were sold to allocate funds to more attractive opportunities.”
Becton, Dickinson and Company - June 2026
“3. Health Care was a relative headwind to performance, primarily due to stock selection, as our overweight positions in QIAGEN NV (QGEN), Solventum Corporation (SOLV), and Becton, Dickinson and Company (BDX) underperformed.”
Becton, Dickinson and Company - New positionBA Beutel Goodman U.S. Value FundMarch 2026
“We added several new positions during the quarter: Union Pacific, Sysco, Wells Fargo, Beckton Dickinson and Marsh & McLennan.”
Becton, Dickinson and Company - New positionBrown Advisory Large-Cap Sustainable ValueMarch 2026
“We also established a new position in Becton, Dickinson, & Co (BDX) ahead of the company combining its Biosciences & Diagnostics business with Waters Corporation (WAT) through a Reverse Morris Trust.”
Becton, Dickinson and Company - New positionBA Beutel Goodman World Value FundMarch 2026
“During the quarter, we initiated positions in Union Pacific, Brookfield Asset Management, Sysco and Becton Dickinson.”
Becton, Dickinson and Company - March 2026
“AstraZeneca plc United Kingdom 1.0 Pharmaceuticals Becton, Dickinson & Co. United States 1.1 Health Care Equipment & Supplies”
Becton, Dickinson and Company - March 2026
“Portfolio Holdings Data as of March 31, 2026. Source: FactSet, Hardman Johnston Global Advisors LLC®. The data shown is of a representative portfolio for the Hardman Johnston Select Equity strategy and is for informational purposes only and is not indicative of future portfolio characteristics/returns. Actual results may vary for each client due to specific client guidelines and other factors. The representative portfolio was chosen as most representative of the Select Equity strategy. Future investments may or may not be profitable. C ountry We ig ht ( %) Indus try Communicat ion Serv ices 8.1 Alphabet Inc. United States 7.1 Interactive Media & Services Comcast Corp. United States 0.9 Diversified Telecommunication Services Versant Media Group, Inc. United States 0.1 Media Consumer Discret ionary 2.7 SharkNinja, Inc. United States 2.7 Household Durables Consumer St aples 0.8 Estee Lauder Companies Inc. United States 0.8 Personal Care Products Energy 1.9 Cameco Corporation Canada 1.9 Oil, Gas & Consumable Fuels Financials 9.7 Charles Schwab Corp United States 3.0 Capital Markets Marsh & McLennan Cos. Inc. United States 3.0 Insurance Mastercard Inc. United States 3.8 Financial Services H ealt h Care 17.9 AstraZeneca plc United Kingdom 3.5 Pharmaceuticals Becton, Dickinson & Co. United States 1.4 Health Care Equipment & Supplies”
Becton, Dickinson and Company - Holds1578 Partners, LPMarch 2026
“Our portfolio outperformed the S&P 500 during the first quarter. Our positions in Interactive Brokers Group, Inc. class A common stock (NASDAQ: IBKR), Northeast Bank voting common stock (NASDAQ: NBN), and Becton, Dickinson and Company common stock (NYSE: BDX) made notable positive contributions. While IBKR gained only 4.3% for the quarter as a whole, we trimmed some of our position early in the quarter at prices notably higher than where IBKR ended the quarter. NBN gained 8.1% for the quarter. The return from our position in BDX benefited from the completion of Becton Dickinson’s Reverse Morris Trust transaction with Waters Corporation. Our position in Uber Technologies, Inc. common stock (NYSE: UBER) was the only notable detractor. UBER fell 12.0% during the first quarter. 2 Performance Attribution Portfolio Composition Select Portfolio Updates Becton, Dickinson and Company (NYSE: BDX) Positions that had a material impact on the portfolio’s mark-to-market performance for the quarter are outlined below. Performance Attribution 1Q 2026 Interactive Brokers Group 3.90% Northeast Bank 1.03% Becton Dickinson 0.84% Uber -2.53% Other 0.55% Gross Performance 3.80% The composition of the portfolio at the end of the quarter is depicted below. Portfolio Composition Equities – Long 90.2% Cash 9.8% There were several changes to the portfolio during the quarter. Early in the quarter, we trimmed our position in Interactive Brokers Group, Inc. class A common stock (NASDAQ: IBKR). Even after trimming the position, IBKR still represents a mid-teens percentage of the portfolio’s value. We also sold the shares of Waters Corporation common stock (NYSE: WAT) we received due to the completion of Becton Dickinson’s Reverse Morris Trust transaction with Waters Corporation. Additionally, we exited the de minimis, residual position we held in Sleep Number Corporation common stock (NASDAQ: SNBR). Finally, we increased our positions in Amazon.com, Inc. common stock (NASDAQ: AMZN) and Netflix, Inc. common stock (NASDAQ: NFLX). At the end of the quarter, our portfolio included seven long equity positions and cash. This quarter’s portfolio update covers our position in Becton, Dickinson and Company common stock (NYSE: BDX).”
Becton, Dickinson and Company - December 2025
“At quarter-end: • Low Price/Earnings Valuation Discipline: The strategy’s P/E is 15.1x 2026 earnings versus 19.8x for the Russell 1000 Value and 24.3x for the S&P 500 (Q4). The 10-year average valuation spread between the strategy and the Russell 1000 Value and the S&P 500 is 3.0 and 4.9 multiple points, respectively; the current valuation spread is 4.7 and 9.2 multiple points, respectively. • High Absolute Dividend Yield: The strategy’s dividend yield is 3.5% versus 1.9% for the Russell 1000 Value and 1.1% for the S&P 500 (Q4). The Russell 1000 Value index is comprised of 27% of stocks with no yield and 62% of stocks with yields below 2.0%. • Strong Dividend Growth: In the fourth quarter, six portfolio companies raised their dividends with an average increase of 7.0%. For the full year 2025, 36 of 43 companies (84%) raised their dividends, with an average increase of 6.0%. • Omnicom Group (OMC) raised its dividend payment by +14.3% • Broadcom (AVGO) raised its dividend payment by +10.0% • ConocoPhillips (COP) raised its dividend payment by +7.7% • Merck (MRK) raised its dividend payment by +4.9% • Exxon Mobil (XOM) raised its dividend payment by +4.0% • Beckton Dickinson (BDX) raised its dividend payment by +1.0%”
Becton, Dickinson and Company - June 2025
“Becton, Dickinson and Company Becton Dickinson detracted from relative performance in the second quarter following a worse-than-expected fiscal quarter earnings report in which the company felt the impact of cuts to the National Institutes of Health (NIH) budget and uncertainty around future cuts.”
Becton, Dickinson and Company
Fund coverage · 10 theses
- 1578 Partners, LPMarch 2026
Becton Dickinson is a diversified medical supplies and devices company with resilient demand, margin expansion potential, strong free cash flow conversion, and share buybacks supporting intrinsic value growth.
Read the full thesis Becton, Dickinson has a dominant consumables franchise, high market share, and an attractive valuation after the divestiture.
Read the full thesis- Fiduciary ManagementSeptember 2025
Becton Dickinson is a leading medical supply company poised for growth and value unlocking through strategic simplification and a strong focus on recurring revenue.
Read the full thesis - Schafer Cullen ESG Value Equity StrategySeptember 2025
Becton Dickinson is a global medical technology provider poised for consistent mid-single-digit growth, with upcoming product launches and a strategic business separation expected to enhance its market position and profitability.
Read the full thesis - Hinde GroupSeptember 2025
Becton, Dickinson and Company is an attractive special situation investment poised for value unlocking through a spin-off and merger with Waters Corporation, anticipated to enhance its stock valuation significantly.
Read the full thesis Becton, Dickinson and Company is a high-quality medical technology firm offering essential products, currently undervalued due to short-term market pressures, presenting a buying opportunity for long-term growth.
Read the full thesisBDX is undervalued at a 20% discount to healthcare peers, despite its strong position in the market and potential for growth amid recent challenges.
Read the full thesis- Schafer Cullen High Dividend ValueJune 2025
Becton Dickinson is a global medical technology company with a strong market position, currently trading at a low P/E ratio, presenting growth opportunities despite recent headwinds.
Read the full thesis - AMG River Road Large Cap Value Select FundDecember 2024
Becton, Dickinson and Company is a diversified medical technology leader with a strong focus on recurring revenue, high growth markets, and a solid history of dividend increases, despite recent underperformance and elevated leverage.
Read the full thesis - Generation IMDecember 2024
Becton Dickinson is a stable US medical device company with a 60% market share
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