Becton, Dickinson and Company (BDX) Fell on Lower-Than-Expected 2024 Guidance

Aristotle Atlantic Partners, LLC, an investment management company, released its “Core Equity Strategy” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy returned 12.95% gross of fees (12.84% net of fees), outperforming the S&P 500 Index, which recorded a total return of 11.69%. Both security selection and allocation effects led the strategy to outperform in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Aristotle Atlantic Core Equity Strategy featured stocks like 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 March 1, 2024, Becton, Dickinson and Company (NYSE:BDX) stock closed at $235.31 per share. One-month return of Becton, Dickinson and Company (NYSE:BDX) was 0.10%, and its shares lost 0.39% of their value over the last 52 weeks. Becton, Dickinson and Company (NYSE:BDX) has a market capitalization of $67.982 billion.

Aristotle Atlantic Core Equity Strategy stated the following regarding Becton, Dickinson and Company (NYSE:BDX) in its fourth quarter 2023 investor letter:

“Becton, Dickinson and Company (NYSE:BDX) detracted from portfolio performance in the quarter, as the company announced lower-than-expected guidance for fiscal year 2024. The weaker guidance was mainly driven by adverse moves in foreign exchange markets; however, the guidance seemed to surprise investors, even though we believe the underlying business trends remain solid.”

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. At the end of the fourth quarter, Becton, Dickinson and Company (NYSE:BDX) was held by 60 hedge fund portfolios, up from 57 in the previous quarter, according to our database.

We discussed Becton, Dickinson and Company (NYSE:BDX) in another article and shared Diamond Hill Large Cap Strategy’s views on the company. 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.