ClearBridge Investments, an investment management company, released its “ClearBridge Large Cap Value Strategy” third quarter 2023 investor letter. A copy of the same can be downloaded here. U.S. equities fell from the first-half highs amid fears of slowing consumer spending and higher interest rates. The strategy performed strongly in this environment outperforming the Russell 1000 Value Index. The strategy benefited from two of the 11 sectors it was invested in during the quarter, on an absolute basis. Overall stock selection and sector allocation contributed to performance on a relative basis. In addition, please check the fund’s top five holdings to know its best picks in 2023.
ClearBridge Large Cap Value Strategy highlighted stocks like Becton, Dickinson and Company (NYSE:BDX) in the third quarter 2023 investor letter. Headquartered in Franklin Lakes, New Jersey, Becton, Dickinson and Company (NYSE:BDX) is a medical technology company. On October 10, 2023, Becton, Dickinson and Company (NYSE:BDX) stock closed at $267.23 per share. One-month return of Becton, Dickinson and Company (NYSE:BDX) was 0.84%, and its shares gained 21.03% of their value over the last 52 weeks. Becton, Dickinson and Company (NYSE:BDX) has a market capitalization of $77.526 billion.
ClearBridge Large Cap Value Strategy made the following comment about Becton, Dickinson and Company (NYSE:BDX) in its Q3 2023 investor letter:
“The health care space provided some opportunities in the quarter, as we increased our exposure to medical device company Becton, Dickinson and Company (NYSE:BDX) as well as large cap pharmaceutical company Johnson & Johnson. Becton, Dickinson recently received FDA approval for its Alaris infusion pump, which should accelerate revenue growth regardless of economic conditions.”
A team of scientists in lab coats surrounded by pharmaceuticals and medical equipment, researching a life-saving oncology-focused biotechnology. Editorial photo for a financial news article. 8k. –ar 16:9
Becton, Dickinson and Company (NYSE:BDX) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 55 hedge fund portfolios held Becton, Dickinson and Company (NYSE:BDX) at the end of the second quarter, which was 56 in the previous quarter.
We discussed Becton, Dickinson and Company (NYSE:BDX) in another article and shared the list of best dividend king stocks to buy. In addition, please check out our hedge fund investor letters Q3 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.