Jim Cramer is Recommending These 5 Stocks in June

2. Johnson & Johnson (NYSE:JNJ)

Number of Hedge Fund Holders: 83

Johnson & Johnson (NYSE:JNJ) makes and sells healthcare products. Cramer gave the stock a Buy recommendation during the Lightning Round segment of his show on June 7. Cramer has previously placed the company among a basket of “great American firms” that are trading at discounted prices because of the overall market volatility and fears of a recession and which investors might miss out on if inflation were to fall, since that would lead to a correction in the valuation of these firms. 

On May 17, Citi analyst Joanne Wuensch maintained a Buy rating on Johnson & Johnson (NYSE:JNJ) stock and lowered the price target to $205 from $210, noting that market multiples were contracting due to “higher inflation, slowing growth, and rising interest rates”. 

At the end of the first quarter of 2022, 83 hedge funds in the database of Insider Monkey held stakes worth $7.4 billion in Johnson & Johnson (NYSE:JNJ), the same as in the previous quarter worth $7.3 billion.