5 Best Medical Device Stocks To Buy Now

4. Johnson & Johnson (NYSE:JNJ)

Number of Hedge Fund Holders: 81

Johnson & Johnson (NYSE:JNJ) is a global healthcare company committed to researching, developing, manufacturing, and distributing healthcare products worldwide. On November 7, 2023, Johnson & Johnson’s (NYSE:JNJ) MedTech unit announced its plan to submit an application to the U.S. Food & Drug Administration in the second half of 2024 to initiate clinical trials for its robotic surgical system, Ottava. This surgical robot integrates four robotic arms into a standard-sized surgical table and has the ability to seamlessly reposition a patient without interrupting the ongoing surgical procedure, according to the company’s statement.

81 out of the 933 hedge funds covered by Insider Monkey’s Q4 2023 research had bought Johnson & Johnson (NYSE:JNJ)’s shares. Ken Fisher’s Fisher Asset Management was the biggest investor, owning 6.3 million shares that are worth $996 million.