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Why This 1 Momentum Stock Could Be a Great Addition to Your Portfolio

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.

Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.

Is This 1 Momentum Stock a Screaming Buy Right Now?

Different than value or growth investors, momentum-oriented investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.

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Becton Dickinson (BDX)

Based in Franklin Lakes, NJ, Becton, Dickinson and Company, commonly known as BD, is a medical technology company engaged principally in the development, manufacture and sale of medical devices, instrument systems and reagents.

BDX is a Zacks Rank #2 (Buy) stock, with a Momentum Style Score of B and VGM Score of B. Shares are up 0.4% over the past one week and up 1.6% over the past four weeks. BDX has gained 2% in the last one-year period as well. Looking at trading volume, an average of 1,562,476.50 shares exchanged hands over the last 20 trading days.

Momentum investors also pay close attention to a company's earnings. For BDX, 11 analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.10 to $12.94 per share for 2024. BDX boasts an average earnings surprise of 4.6%.

With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding BDX to their portfolios.

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Becton, Dickinson and Company (BDX) : Free Stock Analysis Report

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Zacks Investment Research