In this article, we discuss the 5 best long-term dividend stocks to buy now. If you want to read our detailed analysis of these stocks, go directly to the 12 Best Long-Term Dividend Stocks To Buy Now.
5. Becton, Dickinson and Company (NYSE:BDX)
Number of Hedge Fund Holders: 52
Consecutive Years of Dividend Growth: 49
Forward Dividend Yield: 1.37%
Becton, Dickinson and Company (NYSE:BDX) is ranked fifth on our list of 12 best long-term dividend stocks to buy now. The firm operates in the healthcare equipment sector and is based in New Jersey.
Becton, Dickinson and Company (NYSE:BDX) reported earnings for the third fiscal quarter on August 5, posting earnings per share of $2.74, beating estimates by $0.30. The revenue over the period was $4.8 billion, up 26% year-on-year.
At the end of the second quarter of 2021, 52 hedge funds in the database of Insider Monkey held stakes worth $3.3 billion in Becton, Dickinson and Company (NYSE:BDX), down from 65 the preceding quarter worth $3.7 billion.
In its Q2 2021 investor letter, Madison Funds, an asset management firm, highlighted a few stocks and Becton, Dickinson and Company (NYSE:BDX) was one of them. Here is what the fund said:
“Becton, Dickinson and Company (“BD”) is one of the world’s largest medical supply, devices, laboratory equipment, and diagnostic products manufacturers. We like BD because it is a leader in the medical and life science industries with a durable mid-single digit growth profile and attractive returns on capital. They generate about 85% of revenue from consumables and 15% from equipment, and each year, they manufacture billions of needles, syringes, catheters, tubes, and medical devices which results in significant economies of scale that can be matched by few competitors. Their Life Sciences segment produces products that provide diversity in the steadily growing diagnostic testing and life sciences research fields.
Regarding the short-term issues, it’s been a challenging past 18 months for the company. In February 2020, they announced the FDA required an updated 510(k) clearance for their Alaris infusion pump. As a result, BD had to suspend selling new pumps until the updated regulatory filing received FDA clearance. In addition to the regulatory headwind, BD’s business was negatively impacted by the COVID-19 pandemic as individuals postponed doctor office visits and hospitals deferred non-emergency medical procedures. We believe these postponements are just now normalizing. Lastly, while BD’s Life Sciences business swiftly brought COVID-19 tests to market, there is uncertainty over the magnitude and duration of these revenues.
We believe these..”[read the entire letter here]
