Shares of Becton Dickinson (BDX) are up almost 12% so far this year, nearly doubling the return of the S&P Health Care SPDR ETF (XLV). Allen Bond, portfolio manager for the Jensen Quality Growth Fund (JENSX), says investors should stick with the syringe-maker in 2016. ‘Its global market share is somewhere around 60% and we think that’s a tremendous competitive advantage for Becton Dickinson,’ said Bond. ‘And it’s a business that produces a lot of free cash flow that they can then invest for growth.’ The Jensen Quality Growth Fund have risen 2% this year. Bond is also bullish on shares of Accenture (ACN) which have soared 20% year-to-date. Bond said the consultant’s stock has more room to run in the coming year because of its entrenched position with America’s multi-nationals. ‘We think that gives them a large barrier to entry and a tremendous competitive advantage,’ said Bond, adding that it consistently boasts a high return on capital. Shares of United Technologies (UTX) have fallen 18% thus far this year primarily due to problems in its emerging markets business. Nevertheless, Bond said he expects the industrial giant to make a comeback in the coming year because of its currently cheap valuation.
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