Oakmark Funds, advised by Harris Associates, released its “Oakmark Global Fund” fourth quarter 2024 investor letter. A copy of the letter can be downloaded here. The fund returned -5.78% in the quarter compared to a -0.16% return for the MSCI World Index (net). The fund generated a 9.01% return since its inception compared to the index’s 6.35% return over the same period. The largest contributors at the sector level were financials and communication services, while the largest detractors were health care and consumer discretionary. In addition, you can check the top 5 holdings of the fund to know its best picks in 2024.
Oakmark Global Fund highlighted stocks like Becton, Dickinson and Company (NYSE:BDX) in the third quarter 2024 investor letter. Becton, Dickinson and Company (NYSE:BDX) develops and manufactures medical supplies, devices, laboratory equipment, and diagnostic products. The one-month return of Becton, Dickinson and Company (NYSE:BDX) was 5.23%, and its shares gained 0.64% of their value over the last 52 weeks. On January 14, 2025, Becton, Dickinson and Company (NYSE:BDX) stock closed at $235.80 per share with a market capitalization of $68.38 billion.
Oakmark Global Fund stated the following regarding Becton, Dickinson and Company (NYSE:BDX) in its Q4 2024 investor letter:
“Becton, Dickinson and Company (NYSE:BDX) is a global medical technology company that markets a broad range of devices, laboratory equipment and diagnostic products. BD has achieved leading share positions in nearly all of its product categories by combining continuous innovation with manufacturing scale. Covid-19, inflation and other transient factors have weighed on results and camouflaged underlying improvements to BD’s portfolio and operations. We think it has also provided the opportunity to invest in an above-average business at a below average valuation.”
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, 52 hedge fund portfolios held Becton, Dickinson and Company (NYSE:BDX) at the end of the third quarter which was 65 in the previous quarter. While we acknowledge the potential of Becton, Dickinson and Company (NYSE:BDX) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In another article, we discussed Becton, Dickinson and Company (NYSE:BDX) and shared Matrix Asset Advisors’ views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q4 2024 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.