Becton, Dickinson And Company: Patience Will Be Rewarded With Faster Dividend Growth

Healthcare is one of the sectors that I see a long growth runway playing out over the next few decades.  The combination of an aging population in most developed markets as well as the rising number of middle class families in developing/emerging markets should continue to keep the sector moving forward.

Becton, Dickinson & Company (BDX) is poised to capitalize on those population trends.  Becton, Dickinson is the world's largest manufacturer and distributor of medical products such as syringes and needles, the classic razor blade business model.  They also make a variety of diagnostic instruments as well as infusion pumps and ventilators.  After being in a hospital with our son for 8.5 months it was amazing to see just how many Becton, Dickinson products were used on a daily basis.

Becton, Dickinson's share price is only up ~5% since I last examined the business so i wanted to see how things have changed and update my valuation on what I consider to be a high-quality business.


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