Top 30 S&P 500 Stocks by Index Weight

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15. Johnson & Johnson (NYSE:JNJ)

Index Weight: 0.90%

Number of Hedge Fund Holders: 104

Johnson & Johnson (NYSE:JNJ) is one of the top S&P 500 stocks by index weight. On April 15, Argus reiterated its Buy rating on Johnson & Johnson (NYSE:JNJ) and raised the price target to $355 from $340. The new price target reflects 16 times the 2026 earnings estimate.

According to the research firm, the upward re-rating reflects improving earnings prospects as the overall market rebounds. The search firm also expects additional banking deregulation to free up capital that would support a much higher valuation.

The positive rating comes on the heels of Johnson & Johnson delivering impressive first-quarter 2026 results. The company posted a 9.9% sales growth in the quarter to $24.1 billion with adjusted earnings per share of $2.70.

The company also increased its 2026 sales guidance to $100.3B-$101.3B from $100.0B-$101.0B. It also expects adjusted earnings per share of $11.45 to $11.65, representing 5.1% to 8.1% year-over-year growth.

Johnson & Johnson (NYSE:JNJ) is a global healthcare company focused on researching, developing, and manufacturing innovative pharmaceutical products and medical technology (MedTech) devices. As of 2026, the company focuses on complex diseases—such as oncology and immunology—and advanced surgical, orthopedic, and vision solutions, rather than consumer products.

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