5 Stocks Least Vulnerable to Recession

2. Johnson & Johnson (NYSE:JNJ)

Number of Hedge Fund Holders: 83

On July 19, Johnson & Johnson (NYSE:JNJ) released its earnings for the fiscal second quarter of 2022. The company reported earnings per share of $2.59 and came in ahead of Wall Street expectations by $0.02. The company’s revenue for the quarter amounted to $24.02 billion, up 3.04% year over year, and beat market consensus by $195.47 million. Johnson & Johnson (NYSE:JNJ) reiterated its full-year 2022 guidance, but trimmed its forecast for revenue to a range between $93.3 billion and $94.3 billion and also its diluted EPS guidance to a range between $10 and $10.1 in light of underperformance from its med-tech segment in Q2.

Wall Street analysts remain bullish on Johnson & Johnson (NYSE:JNJ). Over the past 3 months, the stock has received 8 Buy and 3 Hold ratings. It has a high price target of $215 and a low price target of $165. Johnson & Johnson’s (NYSE:JNJ) average price target borders $191 and implies an 11.73% upside from its closing price on July 20, which sits at $170.71.

As of July 20, Johnson & Johnson (NYSE:JNJ) has gained 3.54% over the past six months and is offering a forward dividend yield of 2.63%. Johnson & Johnson (NYSE:JNJ) has consistently grown its dividends for well past 50 years.

At the close of Q1 2022, 83 hedge funds were bullish on Johnson & Johnson (NYSE:JNJ) and disclosed stakes worth $7.40 billion in the company. This is compared to 83 positions a quarter ago with stakes worth $7.38 billion.

As of June 30, Ayrshire Capital Management‘s stake in Johnson & Johnson (NYSE:JNJ) is valued at $5.98 million. The fund is the leading shareholder in the company.