Matrix Asset Advisors, an asset management company, released its third-quarter 2023 investor letter. A copy of the same can be downloaded here. In 2025, the firm anticipates further economic growth with a slight slowdown from the 3% GDP in the previous quarter. Through September 30, Matrix's Large Cap Value portfolio (LCV) was up in the high teens year-to-date and in the mid-single digits in Q3 2024. The gain for the quarter lagged behind the Russell 1000 Value's performance but was somewhat greater than the S&P 500. The Matrix Dividend Income (MDI) portfolio saw a significant increase after a slow beginning to the year. It increased by low double digits in the third quarter and by mid-teens for the nine months ending September 30. In the third quarter, the portfolio outperformed the Russell 1000® Value Index and the S&P 500®. In addition, please check the fund’s top five holdings to know its best picks in 2024.

Matrix Asset Advisors 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 0.65%, and its shares lost 5.12% of their value over the last 52 weeks. On December 13, 2024, Becton, Dickinson and Company (NYSE:BDX) stock closed at $225.56 per share with a market capitalization of $63.5 billion.

Matrix Asset Advisors stated the following regarding Becton, Dickinson and Company (NYSE:BDX) in its Q3 2024 investor letter:

"In Q3, we added to two Healthcare positions, Medtronic (MDT) and Becton, Dickinson and Company (NYSE:BDX). Both companies are very attractive in our valuation analysis. BD is a very well-run company that has not participated in the market’s rally this year. The company’s most recent quarterly results were ahead of expectations and during the quarter they announced an acquisition in critical care that they expect to be immediately accretive to earnings."

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 31 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. Becton, Dickinson and Company (NYSE:BDX) posted solid fiscal fourth quarter results with 7.4% sales increase, or 6.2% organic. 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.