In this article, we discuss the 5 best bear market stocks to buy now. If you want to skip our detailed analysis of these stocks, go directly to the 12 Best Bear Market Stocks to Buy Now.
5. Johnson & Johnson (NYSE: JNJ)
Number of Hedge Fund Holders: 81
Johnson & Johnson (NYSE: JNJ) stock has offered investors returns exceeding 17% over the course of the past year. It is placed fifth on our list of 12 best bear market stocks to buy now. The firm markets healthcare services and is based in New Jersey. On July 21, a day after beating market estimates on earnings per share and revenue for the second quarter, the company announced that it was expecting around $2.5 billion from the sale of the single-shot COVID-19 vaccine that it had developed.
On July 2, investment advisory Cantor Fitzgerald reiterated an Overweight rating on Johnson & Johnson (NYSE: JNJ) stock with a price target of $200, noting the positive new developments for the single-shot COVID-19 vaccine marketed by the firm.
At the end of the first quarter of 2021, 81 hedge funds in the database of Insider Monkey held stakes worth $6.9 billion in Johnson & Johnson (NYSE: JNJ), the same as in the previous quarter worth $5.8 billion.