5 Best Diversified Stocks to Buy Now

4. Johnson & Johnson (NYSE:JNJ)

Number of Sectors: 3

Number of Hedge Fund Holders: 83

Johnson & Johnson (NYSE:JNJ) is a premier healthcare company representing the sectors of healthcare, consumer discretionary and consumer staples. Within these sectors, the company manufactures and designs meditech products like surgical instruments, beauty products, self-care products. Johnson & Johnson (NYSE:JNJ) also researches and develops therapeutic treatments and pharmaceuticals. Lately, it was also involved in developing a vaccine for Covid-19 through its subsidiary Janssen Pharmaceuticals. The vaccine had a 66% efficacy in clinical trials according to CDC. 

In the last quarter of 2021, 83 hedge funds were invested in Johnson & Johnson with the total stake in equity at $7.3 billion. The leading stakeholder in the last quarter was Fundsmith LLP with equity worth $1.2 billion. Coming in the first quarter of 2022, Arrowstreet Capital is the biggest investor in the company with the stake amounting to $1 billion. 

Citi analyst Joanne Wuensch lowered the price target on Johnson & Johnson (NYSE:JNJ) to $205 from $210 while keeping a ‘Buy’ rating on the shares. The company’s SEC filings show it beat analyst expectations on Earnings per Share by $0.10 at $2.67 in the first quarter of 2022.