5 Stocks Hedge Funds Are Talking About

In this article, we will take a look at the 5 stocks hedge funds are talking about. To see more such companies, go directly to 10 Stocks Hedge Funds Are Talking About.

5. Johnson & Johnson (NYSE:JNJ)

Number of Hedge Fund Holders: 88

Ranking 5th in our list of the 10 stocks hedge funds are talking about is Johnson & Johnson (NYSE:JNJ). Johnson & Johnson (NYSE:JNJ)’s management revised its full-year 2023 adjusted-diluted EPS outlook, raising it from the initial range of $10-$10.1 to $10.07-$10.13, and concurrently elevated its operating sales forecast from $83.6 billion-$84.4 billion to $84.4 billion-$84.8 billion, due to stronger sales of products from Johnson & Johnson (NYSE:JNJ)’s Innovative Medicine business segment.

According to Insider Monkey’s database of 943 hedge funds, 88 hedge fund portfolios held Johnson & Johnson (NYSE:JNJ) at the end of the second quarter, compared to 86 funds in the previous quarter. One of the most prominent hedge fund holders of Johnson & Johnson (NYSE:JNJ) is Bridgewater Associates, owning 7.48 million shares amounting to $424.3 million.

ClearBridge Large Cap Value Strategy made the following comment about Johnson & Johnson (NYSE:JNJ) in its Q3 2023 investor letter:

“The health care space provided some opportunities in the quarter, as we increased our exposure to medical device company Becton, Dickinson as well as large cap pharmaceutical company Johnson & Johnson (NYSE:JNJ). Johnson & Johnson recently spun out its consumer health care business, becoming a more focused yet broadly diversified pharmaceutical and medtech company.”