5 Medical Device Stocks for 2021

3. Becton, Dickinson and Company (NYSE: BDX)

Number of Hedge Fund Holders: 65

Becton, Dickinson and Company (NYSE: BDX) is a developer of medical supplies, devices, lab equipment, and diagnostic products for distribution and sale worldwide. The company’s products include acute dialysis catheters, hypodermic syringes and needles, and infusion pumps, among a range of others. It ranks 3rd on our list of medical device stocks for 2021.

On June 23rd, Becton, Dickinson and Company (NYSE: BDX) received a 510(k) clearance from the FDA for their PeritX Peritoneal Catheter System. This system is the first of its kind to be approved by the FDA and works for the drainage of non-malignant ascites. Additionally, on June 8th the company announced that it had hit a milestone in injection needle orders during the pandemic, with 2 billion orders.

In the first quarter of 2021, Becton, Dickinson and Company (NYSE: BDX) had EPS valued at $4.55 versus estimates of $3.16 and its revenue valued at $5.32 billion, representing an 8.31% growth year over year. The company also has a gross profit margin of 47.32% and gained 1.05% in the past year. Becton, Dickinson and Company (NYSE: BDX) has a consensus rating of Buy.

By the end of the first quarter of 2021, 65 hedge funds out of the 866 tracked by Insider Monkey held stakes in Becton, Dickinson and Company (NYSE: BDX), with a total stake value of roughly $3.73 billion. This is compared to 65 hedge fund holders in the previous quarter, with stakes valued at about $3.96 billion.