Jim Cramer Shares Key Trend For Johnson & Johnson (JNJ) Shares

We have recently shared Jim Cramer Made A Big Prediction About OpenAI & Discussed These 20 Stocks. Johnson & Johnson (NYSE:JNJ) is one of the stocks discussed by Jim Cramer.

Pharmaceutical giant Johnson & Johnson (NYSE:JNJ)’s shares are up by 47% over the past year and by 10% year-to-date. Guggenheim discussed the firm on April 20th, as it raised the share price target to $266 from $244 and kept a Buy rating on the shares. The shift came after Johnson & Johnson (NYSE:JNJ)’s first quarter earnings, as the financial firm commented that the pharma company could earn more from its psoriasis medicine Icotyde. Cramer has discussed the firm several times over the past couple of months. Most of the time, he has praised Johnson & Johnson (NYSE:JNJ)’s cancer portfolio, and in this appearance, he bemoaned the negativity surrounding healthcare stocks:

“Yeah, David, they’re hitting the pharma again, they’re killing healthcare. JNJ, one of the foremost companies of this country, 19 times earnings, down very badly. I don’t think it ends yet because this is a huge trade, out of healthcare, into semis and it’s really interesting because as you go out of a huge part of the market into a very concentrated area, tends not to act, tends not to be a good idea but people are doing it. I say look at the bargains in healthcare, some of the companies are going to come back and you’re going to regret that you sold them.”

Jim Cramer Shares Key Trend For Johnson & Johnson (JNJ) Shares

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