Becton, Dickinson and Company (BDX) Declined on 2024 Guidance

Madison Investments, an investment advisor, released its “Madison Sustainable Equity Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. During the fourth quarter, equity markets ended the year on a high note, with the S&P 500 achieving an 11.7% increase. This brought the full-year return to 26.3%. The Fund (Class Y) returned 18.0% for the year, but had a Q4 return of 11.9%, trailing the S&P 500. The fourth quarter’s strength can be attributed to the yield curve’s downward shift. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Madison Sustainable Equity Fund featured stocks such as Becton, Dickinson and Company (NYSE:BDX) in the fourth quarter 2023 investor letter. Headquartered in Franklin Lakes, New Jersey, Becton, Dickinson and Company (NYSE:BDX) is a medical technology company. On February 2, 2024, Becton, Dickinson and Company (NYSE:BDX) stock closed at $237.19 per share. The one-month return of Becton, Dickinson and Company (NYSE:BDX) was -2.02%, and its shares lost 3.52% of their value over the last 52 weeks. Becton, Dickinson and Company (NYSE:BDX) has a market capitalization of $68.525 billion.

Madison Sustainable Equity Fund stated the following regarding Becton, Dickinson and Company (NYSE:BDX) in its fourth quarter 2023 investor letter:

“Becton, Dickinson and Company (NYSE:BDX) reported an in-line fourth quarter but provided guidance for fiscal 2024 that was below expectations. Revenue guidance was in-line, but earnings guidance was below expectations driven by lower operating margins. The lower operating margin is a result of currency and inventory reduction headwinds.”

A surgeon performing a procedure in an operating room using a medical device supplied by the company.

Becton, Dickinson and Company (NYSE:BDX) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 57 hedge fund portfolios held Becton, Dickinson and Company (NYSE:BDX) at the end of third quarter which was 55 in the previous quarter.

We discussed Becton, Dickinson and Company (NYSE:BDX) in another article and shared the list of dividend aristocrats among billionaires. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.