5 Best Healthcare Stocks To Buy Now

4. Johnson & Johnson (NYSE:JNJ)

Number of Hedge Fund Holders: 83

Johnson & Johnson (NYSE:JNJ) is one of the oldest American companies to date as it was set up in 1886 and is based in New Brunswick, New Jersey. The company provides beauty, oral, and baby care products. Additionally, it also sells medicines for a variety of diseases such as arthritis, inflammatory bowel disease, and cancer.

Despite its scale, Johnson & Johnson (NYSE:JNJ)’s return on invested capital (ROIC) stands between 20% and 25%, ensuring that the firm converts its investments into profit. Additionally, the firm has an A+ rating for its dividends and has grown them for 59 years. Currently, Johnson & Johnson (NYSE:JNJ) pays a $1.13 dividend per share per quarter for a 2.61% yield.

UBS reduced Johnson & Johnson (NYSE:JNJ)’s share price target to $180 from $185 in July 2022, citing worries about macroeconomic risks. Insider Monkey polled 912 hedge funds for this year’s first quarter and discovered that 83 had invested in the company.

Johnson & Johnson (NYSE:JNJ)’s largest investor is Peter Rathjens, Bruce Clarke, and John Campbell’s Arrowstreet Capital which owns 6.6 million shares that are worth $1.1 billion.