16 Best Income Stocks To Buy According to Analysts

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

Upside Potential as of December 13: 22.21%

Becton, Dickinson and Company (NYSE:BDX) is a New Jersey-based medical device company that also specializes in instrument systems and reagents. In fiscal year 2024, the company made progress on its strategic initiatives, focusing on transitioning its portfolio toward higher-growth sectors. This effort included introducing new innovations and acquiring Edwards Lifesciences’ Critical Care product group. Additionally, the company utilized its BD Excellence system to surpass targets for margin expansion, earnings, and cash flow.

Becton, Dickinson and Company (NYSE:BDX) reported revenue of $5.4 billion in fiscal Q4 2024, which showed a 6.9% growth from the same period last year. The company’s BD Medical remained the winner among its segments, generating over $2.8 billion in revenues, up 11.1% from the prior-year period.

Becton, Dickinson and Company (NYSE:BDX) also showed a strong cash position in FY4. The company’s operating cash flow came in at $3.8 billion, up 28.5% on a YoY basis. Its free cash flow also jumped by 47.4% YoY to $3.1 billion. This strong cash generation has made the company a generous dividend payer. It raised its quarterly dividend by 9.5% on November 7 to $1.04 per share. This marked the company’s 53rd consecutive year of dividend growth, which makes BDX one of the best dividend stocks on our list. The stock has a dividend yield of 1.84%, as of December 13.

As of the close of Q3 2024, 52 hedge funds in Insider Monkey’s database held stakes in Becton, Dickinson and Company (NYSE:BDX), compared with 65 in the preceding quarter. The consolidated value of these stakes is nearly $3.2 billion.