What smart money is saying about Becton, Dickinson and Company
11 funds in our archive have pitched Becton, Dickinson and Company — most recently Brown Advisory Large-Cap Sustainable Value 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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Position history
Between Q4 2024 and Q2 2026, 12 fund letters reported a position in Becton, Dickinson and Company — 3 opened or added to the position, 4 trimmed or exited.
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q2 2026 | 6 | 0 | 4 | 0 |
| Q1 2026 | 6 | 3 | 0 | 3 |
| Q3 2025 | 0 | 0 | 0 | 3 |
| Q2 2025 | 0 | 0 | 0 | 3 |
| Q4 2024 | 0 | 0 | 0 | 2 |
Fund activity · 12 positions · 7 moves
- 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
“• 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 - HoldsNuance Investments Mid Cap Value StrategyJune 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
Fund coverage · 11 theses
Becton, Dickinson has a dominant consumables franchise, high market share, and an attractive valuation after the divestiture.
Read the full thesis- 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 - Brown Advisory U.S. Value FundMarch 2026
Becton, Dickinson and Company has a non-discretionary consumables franchise, leading market share, and attractive valuation after a divestiture.
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 - 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 - 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 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- Generation IMDecember 2024
Becton Dickinson is a stable US medical device company with a 60% market share
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.
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