5 Medical Technology Stocks to Buy

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In this article, we will discuss the 5 medical technology stocks to buy. If you want to read our detailed analysis of the medical technology industry, go directly to the 10 Medical Technology Stocks to Buy.

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

Number of Hedge Fund Holders: 65

Becton, Dickinson and Company (NYSE: BDX) ranks 5th on the list of the 10 medical technology stocks to buy. The New Jersey-based healthcare company markets diagnostic products, laboratory equipment, and medical devices. The company offers a number of automated products and systems from automated blood culturing to supply management systems.

In May, Barclays initiated coverage on Becton, Dickinson and Company (NYSE: BDX) with an Equal-weight rating, and a price target of $270 per share. Becton, Dickinson and Company (NYSE: BDX) stated in mid-May that the construction of its $200 million manufacturing plant in Spain will begin in late 2021. This will be the company’s fourth expansion project in Spain, with 600 jobs expected to be established by 2030.

The company has a market cap of $72 billion. In the second quarter of 2021, Becton, Dickinson and Company (NYSE: BDX) had an EPS of $3.19, an increase of 25.1% year over year and beating estimates by $0.15. The company’s second-quarter revenue was $4.9 billion, up 15.4% year over year, driven by strong revenue growth in pharmaceutical systems and high demand for COVID-19 diagnostic kits. 

By the end of the first quarter of 2021, 65 hedge funds followed by Insider Monkey held stakes in Becton, Dickinson and Company (NYSE: BDX) with a total value of $3.73 billion. Out of the hedge funds being tracked by Insider Monkey, Ontario-based investment firm 

Galibier Capital Management is a leading shareholder in Becton, Dickinson and Company (NYSE: BDX) with 65,417 shares worth more than $15.9 million. 

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