In this article, we will discuss 10 Best Cosmetic Surgery and Aesthetics Stocks To Buy.
While imperfections are inherent to being human, aesthetic (or cosmetic) plastic surgery is a viable alternative if self-consciousness and unhappiness over your appearance are causing you distress.
Estimated at $57.67 billion in 2023, the global cosmetic surgery market is expected to grow at a CAGR of 4.0% from $59.77 billion in 2024 to $81.66 billion by 2032, as per Fortune Business Insights. Regionally, North America dominated the market in 2023, with a market value of $18.10 billion.
Per the aforementioned research, the market is growing mainly because cosmetic procedures are becoming increasingly popular among people in general as a means of improving their visual appeal. Following the pandemic, when most individuals were attending virtual meetings and interacting on social media, there was a notable spike in cosmetic surgery. According to a 2023 study, there was an almost 30% rise in cosmetic procedures in 2021, compared to 2019, and a nearly 50% increase in 2020.
According to the annual Global Survey on Aesthetic/Cosmetic Procedures, in 2023, plastic surgeons performed over 15.8 million surgical procedures, up 5.5% from the previous year. There has been a 40% rise overall over the past four years. As per the survey, liposuction was the most prevalent surgical procedure in 2023 and 2022, with over 2.2 million carried out, followed by breast augmentation, eyelid surgery, abdominoplasty, and rhinoplasty. Botulinum toxin, hyaluronic acid, hair removal, non-surgical skin tightening, and non-surgical fat reduction were the most popular non-surgical procedures. All face and head operations rose by 19.6% over the previous year, totaling more than 6.5 million procedures.
According to Dan Yamini, M.D., a board-certified plastic surgeon at Visthetic Surgery Institute & Med Spa, the growing trend of minimally invasive procedures like injectables (such as fillers and neurotoxins) that enable people to address specific concerns and achieve subtle improvements without surgery is indicative of the desire for natural looks.
Top plastic surgeons debated and discussed the newest ideas and innovations in plastic surgery at this year’s American Society for Aesthetic Plastic Surgery (The Aesthetic Society) conference in Vancouver. Preservation rhinoplasty, which reshapes the nose while preserving its natural structure and provides a more nuanced approach than standard procedures, was a hot topic. While plastic surgeon Adam Rubinstein, MD, of Miami, believes it’s just a marketing word, Austin, Texas’s Adam Weinfeld, MD, appreciates its subtle approach.
Secondly, the buzz is also about GLP-1’s role in plastic surgery. GLP-1 medications, which were once developed to treat diabetes, are now used to reduce weight but a side effect of them is the sagging of the skin. Johnny Franco, MD, a plastic surgeon in Austin, Texas, states that after using GLP-1s to lose a large amount of weight, patients are now looking for remedies for sagging skin. They revealed that to address this, they provide surgical alternatives as well as skin-tightening therapies such as BodyTite and Renuvion. Conversely, the Delray Beach, FL, plastic surgeon Drew Schnitt, MD, warns against their long-term consequences. Extended stomach tucks are advised by New York plastic surgeon Mokhtar Asaadi, MD to tighten skin and muscles after weight loss.
GLP-1 drugs are all the rage in 2024 and the global weight loss drugs market is expected to reach $130 billion by 2030, as per estimates by JP Morgan Research. We covered this theme in our article about the 10 Best GLP-1 and Weight Loss Stocks to Buy Now. Here’s an excerpt from the article:
“Over the past ten years, the usage of GLP-1 drugs, such as semaglutide, for weight loss has doubled, but among those with type 2 diabetes, its use has decreased by almost 10%, according to research published on Monday in the Annals of Internal Medicine. The prolonged medication scarcity that followed, the researchers caution, may restrict the medications’ accessibility to those with diabetes. Dr. Yee Hui Yeo, a clinical fellow in the Karsh Division of Gastroenterology and Hepatology at Cedars-Sina, highlighted that as demand for obesity medications rises, it is critical to guarantee that diabetic patients have access to GLP-1 medicines.
The FDA claims that the shortages are the result of rising demand. Not only do the shortages impact the United States: The European Medicines Agency cautioned that the GLP-1 drug shortage is a “major public health concern” that is unlikely to be remedied in 2024. People with diabetes have struggled to obtain their prescriptions due to shortages, with some limiting their drugs to manage, according to NPR.”
With this context, let’s take a look at the 10 Best Cosmetic Surgery and Aesthetics Stocks To Buy.
Copyright: bbtreesubmission / 123RF Stock Photo
Our Methodology
We sifted through online rankings and holdings of ETFs to form an initial list of 15 best cosmetic surgery and aesthetics stocks. Then we selected the 10 stocks that were the most popular among institutional investors. The stocks are ranked in ascending order of the number of hedge funds that have stakes in them.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points. (see more details here).
10 Best Cosmetic Surgery and Aesthetics Stocks To Buy
10. AirSculpt Technologies, Inc. (NASDAQ:AIRS)
Number of Hedge Fund Investors: 7
AirSculpt Technologies, Inc. (NASDAQ:AIRS) is the parent company for EBS Intermediate Parent LLC, which provides body contouring procedure services across the United States. The company was established in 2012 and has its primary location in Miami Beach, Florida. It provides a variety of innovative body reshaping procedures. These include AirSculpt, a minimally invasive procedure for skin tightening and fat removal; AirSculpt+, which improves skin tightening and fat removal precision; and AirSculpt Smooth, a cellulite-removal treatment. Most importantly, the techniques are minimally invasive and employ cutting-edge technology applied precisely by trained surgeons in place of needles, scalpels, or stitches. The Power BBL (Brazilian butt lift), Up a Cup (breast enlargement), and Hip Flip (hourglass contouring) are some of their specialty treatments.
Over the previous three years, revenue has grown at a CAGR of 21.34%. The company revealed its first-quarter financial results in May 10, 2024, for Q1. In comparison to the same quarter last year, AirSculpt Technologies recorded a 2.9% increase in case volume which amounted to 3,746 and a 3.9% increase in revenue, which grew to $47.6 million.
CEO Todd Magazine credited the preceding year’s successful opening of de novo sites for the revenue rise. The firm engaged in customer acquisition and awareness-building measures despite macroeconomic challenges that affected same-store performance. The company is optimistic regarding its development trajectory, citing the launch of six new sites by 2024 and de novo locations surpassing internal estimates as evidence.
With estimates of around $220 million in sales and $50 million in adjusted EBITDA for the full year 2024, AirSculpt kept its revenue and adjusted EBITDA outlook unchanged.
AirSculpt had $11.0 million in cash and cash equivalents as of March 31, 2024, down 2.78% from the same period the previous year. The company also has $5.0 million in borrowing capacity on its revolving credit facility. Between Q1 2023 and Q1 2024, there was a roughly 45.16% drop in operational cash flow.
From 23 clinics and 49 operation rooms a year ago, the company currently has 27 locations with 57 rooms. The revenue per case increased by 0.4% to $12,712. The company’s capacity to sustain steady income streams in the face of economic hardships is demonstrated by the 3,268 cases in same-center performance, with revenue per case coming in at $12,637.
Investors should be aware that AIRS is subject to economic risks, including inflation and interest rate fluctuations, and that its growth is primarily driven by ongoing reinvestment. Another difficulty is the competition in the markets for aesthetics and cosmetic surgery. Nonetheless, experts are encouraged by AIRS’s capacity to grow its business.
9. AVITA Medical, Inc. (NASDAQ:RCEL)
Number of Hedge Fund Investors: 8
One of the best stocks for aesthetics and cosmetic surgery, AVITA Medical, Inc. (NASDAQ:RCEL), is a regenerative medicine firm with operations in the UK, Japan, Australia, and the US. The firm offers regenerative treatments that are intended to address medical needs related to burn injuries, traumatic injuries, chronic wounds, and skin and aesthetic concerns, including vitiligo and full-thickness skin abnormalities. The RECELL technology converts a patient’s skin cells into a spray-on solution for healing and repigmentation, using less donor skin and resulting in a speedier recovery.
Due to sluggish revenue growth, high operational costs, and investor worries over Avita’s dependence on FDA approvals, the company’s stock has lost nearly 81% of its value since 2020. With the use of autologous cell suspensions that require less donor skin, the recently FDA-approved RECELL System provides notable benefits over conventional treatments for vitiligo and thermal burn wounds, achieving a milestone. Better cosmetic and functional results, as well as quicker wound closure, result from this. Furthermore, the goal of the RECELL GO system is to improve treatment preparation uniformity and efficiency.
AVITA Medical, Inc. (NASDAQ:RCEL) had sales of $11.1 million in Q1 2024, up 5.25% from the same quarter the year before, exceeding analyst estimates. Due to its innovative technology, RCEL holds potential even if its reported (-$0.73) profits per share for the quarter fell short of analysts’ average projections of (-$0.26) by $0.47.
AVITA Medical, Inc. (NASDAQ:RCEL) is broadening its market penetration through international distribution partnerships in Australia and the EU. The RECELL GO CE certification is anticipated to be achieved in Q4 2024. Along with developing the RECELL GO Mini for smaller wounds, the company anticipates receiving early data on re-pigmentation outcomes in Q2 2024 from the TONE research. By Q4 2025, RECELL is expected to be commercially covered, possibly including patients with vitiligo.
The Wall Street analysts with 12-month forecasts for RCEL stock have an average price target of $19, maintaining a “Buy” rating. This average price target predicts an upside potential of 87.56% from the current stock price of $10.13. At the end of Q1 of 2024, AVITA Medical, Inc. (NASDAQ:RCEL) was held by 8 hedge funds. AQR Capital Management held the largest stake in the company, with 90,600 shares worth $1.45 million.
8. Cutera, Inc. (NASDAQ:CUTR)
Number of Hedge Fund Investors: 11
One of the leading global suppliers of dermatological and cosmetic products to medical professionals is Cutera, Inc. (NASDAQ:CUTR). The company creates, manufactures, and markets energy-based product platforms intended primarily for medical professionals. It also distributes skincare products made by third parties. Hence, it holds a strong position in the cosmetic surgery and aesthetics markets.
Cutera’s stock price has fallen more than 98% till date from its 2020 high of $72.31, mostly as a result of significant management changes and a lack of strategy from the company. Cutera, Inc. (NASDAQ:CUTR) then announced the appointment of Jeryl ‘Jeri’ Hilleman to its Board of Directors, effective July 12, 2024. The company highlighted her extensive governance roles and more than 30 years of experience in the healthcare industry. By utilizing her financial leadership and planning skills, Cutera will support the company’s expansion and innovation, especially with AviClear.
Revenue of $38.8 million was announced for the first quarter of 2024 by Cutera, Inc. (Nasdaq: CUTR), and was above analysts’ projections of $37.17 million. Nonetheless, it was a 29% drop from the same quarter the year before.
The successful introduction of xeo+ and robust sequential growth in AviClear revenue was noted by the company in Q1. The gross profit for the quarter was $12.4 million, down 42.58% from the same period the previous year. Operating costs were $31.9 million, down more than 13%, and cash equivalents were $105.4 million, down 60.60% from the same quarter the previous year. Cutera restated its $160-170 million sales forecast for 2024.
Despite cutting the price target from $10.00 to $6.00 in March, Stifel nevertheless retains a Buy rating on Cutera because of the company’s potential for a sizable market uptake of the AviClear device in 2024. Higher profit margins and lower cash burn are essential components of a successful turnaround.
Overall, analysts are bullish on this stock and have given CUTR a Buy rating. The average price target for Cutera, Inc. (NASDAQ:CUTR) is $7.67, which presents a 404.61% upside potential from the current price of $1.52. According to Insider Monkey’s Q1 2024 database, 11 hedge funds held stakes in the company. Glenn Russell Dubin’s Highbridge Capital Management held the largest stake in the company, with 32,685,000 shares worth $13.36 million.
7. Establishment Labs Holdings Inc. (NASDAQ:ESTA)
Number of Hedge Fund Investors: 20
Revenue Growth Rate (year-over-year): 2.13%
The global medical technology company Establishment Labs Holdings Inc. (NASDAQ) is committed to women’s health and well-being in the areas of breast reconstruction and aesthetics. Selling in more than 85 countries, its “Motiva” implants provide a longer-lasting and natural feeling, but the FDA has not yet given them the go-ahead in the United States. The company’s Motiva product gained clearance in China, which is a major growth driver.
Establishment Labs Holdings Inc. (NASDAQ:ESTA) is one of the best cosmetic surgery and aesthetics stocks to buy according to hedge funds. The stock was held by 20 hedge funds that Insider Monkey examined in the first quarter of this year. Wilmot B. Harkey and Daniel Mack’s Nantahala Capital Management held the largest stake in the company, with 1,964,562 shares worth $99.100 million.
Establishment Labs Holdings Inc. (NASDAQ: NASDAQ:ESTA) received a boost in price target in April from Mizuho Securities, which raised it from $50 to $65 while keeping a Buy rating on the stock. This change reflects the company’s expectation of a favorable FDA (Food and Drug Administration) review for its Motiva implants. Establishment Labs Holdings Inc. (NASDAQ:ESTA) has an average price target of $55 which implies an upside of over 14.11% from current levels.
Establishment Labs Holdings Inc. (NASDAQ: ESTA) released its financial results for the first quarter of 2024. The company’s worldwide sales were $37.2 million, which was 20.11% less than the same period last year. Revenue in 2024 is expected to grow 5% to 11% from 2023.
As of March 31, 2024, the company’s cash balance was $73.0 million, a remarkable 70.33% increase over the same quarter the previous year, demonstrating an improvement in financial position after consistently burning cash over the years. Establishment Labs, which hopes to get Motiva Implants approved by the FDA in 2024, showed promising 4-year findings from the Motiva U.S. IDE trial.
6. InMode Ltd. (NASDAQ:INMD)
Number of Hedge Fund Investors: 20
Revenue Growth Rate (year-over-year): 8.32%
The company InMode Ltd. (NASDAQ:INMD) is engaged in the development, manufacturing, and marketing of minimally invasive medical devices intended for cosmetic purposes. The company’s patented technologies, deep subdermal fractional radiofrequency and radiofrequency aided lipolysis, serve as the foundation for these advancements. Additionally, InMode Ltd. (NASDAQ:INMD) creates and develops medical aesthetic solutions that are non-invasive for a variety of procedures.
Wasatch Micro Cap Value Strategy stated the following regarding InMode Ltd. (NASDAQ:INMD) in its fourth quarter 2023 investor letter:
“InMode Ltd. (NASDAQ:INMD) was also a detractor. This Israeli company develops aesthetic treatments for the face, body and skin. The treatments harness novel radio-frequency technology. Inmode has experienced extremely strong growth, which we think will continue because the company’s treatments are very effective and far ahead of the competition. During the quarter, however, the stock was down due to the attack on Israel and a forecast of increased seasonality in Inmode’s revenues and earnings. Nevertheless, we still like Inmode based on its technological edge, strong balance sheet, gross margins in excess of 80% and a valuation of a 6 multiple based on forward EV-to-EBITDA.”
Jefferies downgraded InMode Ltd. (NASDAQ) in July amid wider economic issues from Buy to Hold, decreasing the price objective from $21.00 to $19.00. The drop was attributed to worries about the impact on the aesthetics market. Analysts anticipate that the market will continue to be tough, which might have an effect on InMode’s performance in the second half of 2024 and make it more difficult for the company to reach its financial goals. The stock is currently trading at $17.89 as of July 28.
InMode Ltd. (NASDAQ:INMD) has a unique technological advantage that sets it up for future growth. It is one of the best cosmetic surgery and aesthetics stocks to buy now. In Q1 2024, 20 hedge funds were bullish on InMode Ltd. (NASDAQ:INMD). Catherine D. Wood’s ARK Investment Management held the largest stake in the company, with 124,905 shares worth $2.28 million.
5. Bausch Health Companies Inc. (NYSE:BHC)
Number of Hedge Fund Investors: 34
A global pharmaceutical company, Bausch Health Companies Inc. (NYSE:BHC) operates in the fields of dermatology and cosmetic medicine. Through its majority ownership in Bausch & Lomb, it creates, produces, and sells a range of products. The firm provides skin care products, dermal fillers, and minimally invasive procedures, among other cosmetic products and aesthetic treatments.
A legal investigation into price-rigging caused Bausch Health Companies Inc.’s share price to plummet by more than 97% from its 2015 peak. Rumors of bankruptcy caused the stock to plunge 43% in July, from $7.50 to $4.30 a share, before rising to $5.82 when the firm refuted the reports. Although Salix and Bausch + Lomb, two of the company’s key segments, performed well in the first quarter of 2024, worries are raised by Bausch’s large debt, which is presently $21.5 billion, and by the Xifaxan patent issues.
Although sales increased by 10.75% to $2.15 billion in the first quarter of 2024 over the same period the previous year, controlling net debt remained difficult. Since Bausch has a lot of debt and is still in litigation, Fitch Ratings recently lowered the company’s financial standing, indicating instability in the company’s finances and uncertainty about its future.
Nonetheless, Stifel has adjusted the price objective for the company from $10.00 to $6.00, indicating the possibility of a comeback bolstered by increased profit margins and decreased cash burn. The company has $947 million in cash and cash equivalents, up 67.91% year over year. Shares sport a consensus Buy and the average price target of $10.5 implies an upside of 75.29% from current levels.
Bausch Health Companies Inc. (NYSE:BHC) is one of the best cosmetic surgery and aesthetics stocks to buy. 34 hedge funds owned Bausch Health Companies Inc. (NYSE:BHC) in Q1 2024. Carl Icahn’s Icahn Capital LP is the largest stakeholder in the company, with 34,721,118 shares worth $368.39 million.
4. Hologic, Inc. (NASDAQ:HOLX)
Number of Hedge Fund Investors: 41
Revenue Growth Rate (year-over-year): -17.12%
Hologic, Inc. is an innovative medical technology company that is largely concerned with enhancing women’s health and well-being through early identification and care. HOLX is a market leader in women’s health, with a range of products that have established the gold standard of care.
As the tailwinds caused by the pandemic fade, Hologic, Inc. (NASDAQ:HOLX) has experienced difficulties in 2024. Nonetheless, the company is a desirable investment due to its impressive track record and healthy financial performance. Hologic anticipates organic revenues to expand by 5-7% despite pandemic-related tailwinds ending in 2024, which might result in value expansion. Moreover, the company expects profits per share in 2024 to range from $3.90 to $4.10, a slight increase from $3.96 in 2023.
It is anticipated that Hologic’s recent $310 million acquisition of Endomagnetics, a provider of technologies for breast cancer surgery, will break even by 2025 and become profitable after that. Its primary objectives are still expansion and increasing shareholder value.
ClearBridge Sustainability Leaders Strategy made the following comment about Hologic, Inc. (NASDAQ:HOLX) in its Q3 2023 investor letter:
“We continue to be active in positioning our holdings in the health care sector, in the quarter initiating a new position in Hologic, Inc. (NASDAQ:HOLX), a medical technology company focused on women’s health with leading positions in medical diagnostics, medical imaging systems and surgical devices. The company has used profits generated during the pandemic to diversify the business and increase recurring revenues, as well as return capital to shareholders. We believe Hologic is well-positioned to drive stable growth and improve profitability going forward and has a very strong balance sheet to fund future growth initiatives. Hologic’s products help detect cancer as well as a variety of infectious diseases, including COVID-19, thus improving health care outcomes for patients.”
Analysts hold a consensus Buy rating on the stock. In the first quarter of 2024, 41 hedge funds held stakes in Hologic, Inc. (NASDAQ:HOLX). The company’s top shareholder was Bailard Inc., with 16,484 shares worth $1.22 million.
3. Zimmer Biomet Holdings, Inc. (NYSE:ZBH)
Number of Hedge Fund Investors: 41
Revenue Growth Rate (year-over-year): 6.55%
Zimmer Biomet Holdings, Inc. (NYSE:ZBH) is a global provider of medical technology, operating through its subsidiaries. The company creates, produces, and sells orthopedic reconstructive products, including knee and hip products.
The previous three months’ modest growth, weak cash flows, and rising interest rates have all contributed to ZBH’s share price struggles. The ROSA robotic surgery system is one of the new products that are being launched to promote growth. Although there are advantages due to changes in population and technology, Stryker’s rivalry still presents difficulties.
A $2 billion stock repurchase program and the company’s emphasis on ASCs are signs of optimism, but dangers include high debt levels and pressure from competitors, especially in China, as well as Stryker’s superior performance.
To demonstrate its dedication to innovation, Zimmer Biomet intends to introduce close to 30 fresh products this year, with over 50 more in the long-term plan.
RevelAi Health and Zimmer Biomet Holdings, Inc. (NYSE) teamed up to commercialize RevelAi’s patient care management system and improve orthopedic treatment with AI. AI can help improve healthcare operations and lessen burnout among doctors, according to CEO Christian Péan.
The clinician-guided voice agent and text messaging features of RevelAi’s technology streamline operations while satisfying Centers for Medicare & Medicaid Services (CMS) criteria. Edmond Davis, Senior Director, the Health Equity Division of Zimmer Biomet, emphasized the company’s dedication to providing underprivileged populations with access to orthopedic care.
To improve its ROSA Robotics suite, Zimmer Biomet and THINK Surgical inked an exclusive distribution deal for the TMINI Miniature Robotic System. The TMINI system, which promises to increase knee implant placement accuracy, will be ready in late 2024.
Following a discussion with an orthopedic physician acquainted with the company’s most recent product offerings, such as Persona IQ and OsseoTi cementless, TD Cowen decided to maintain Zimmer Biomet at a Hold rating, with a $143.00 price target.
As of the end of the first quarter of 2024, 41 hedge funds out of the 920 funds reported having stakes in Zimmer Biomet Holdings, Inc. (NYSE:ZBH). The company’s top shareholder is John Murphy’s Levin Easterly Partners which has 72,717 shares worth $7.89 million.
2. AbbVie Inc. (NYSE:ABBV)
Number of Hedge Fund Investors: 70
AbbVie Inc. (NYSE:ABBV) is a biopharmaceutical company that specializes in creating and distributing innovative treatments, which include dermatological and aesthetic products. For the treatment of wrinkles and volume loss in the face, the firm provides aesthetic treatments such as BOTOX Cosmetic and JUVÉDERM dermal fillers.
In July, Abbvie’s price target was increased by Truist Securities to $210 from $195, with a reiteration of a Buy rating following solid Q2 2024 results.
Abbvie’s aesthetics portfolio generated $1.39 billion in worldwide net revenues in the second quarter of 2024, up 0.5% from the same period the previous year. Juvederm brought in $343 million, while net sales from Botox Cosmetics were $729 million. By 2033, ABBV anticipates a double-digit CAGR in aesthetic medicine. Abbvie’s premier Botox product guarantees an impressive market share in the aesthetics market.
Polen Focus Growth Strategy stated the following regarding AbbVie Inc. (NYSE:ABBV) in its Q2 2024 investor letter:
“In the second quarter, the top relative contributors to the Portfolio’s performance were all names we do not hold: Home Depot, Meta Platforms, and AbbVie Inc. (NYSE:ABBV). AbbVie fell on the back of results that failed to allay concerns around continuing biosimilar threats to its very large, blockbuster arthritis drug, Humira, which went off patent last year.”
Although sales of Humira and Imbruvica may be impacted by the Inflation Reduction Act, Abbvie is anticipated to maintain long-term growth. The company presented its prospects for growth until the end of the decade, bolstered by its pipeline of innovative products and services. The optimistic forecast indicates faith in Abbvie’s capacity to overcome market obstacles and seize expansion opportunities.
BMO Capital Markets and JPMorgan also raised their price targets to $210 and $214, respectively. Abbvie surpassed market expectations with adjusted earnings per share of $2.65, achieving Q2 sales of $14.46 billion, up 4.31% from the same period the previous year. The company has named Dr. Roopal Thakkar as EVP of R&D and Chief Scientific Officer and is requesting FDA and EMA clearance for upadacitinib for giant cell arteritis, supported by encouraging findings from the Phase 3 SELECT-GCA research.
In the first quarter of 2024, 70 hedge funds out of 920 reported holding an ownership stake in AbbVie Inc. (NYSE:ABBV). Bernard Horn’s Polaris Capital Management is the largest shareholder in the company, with 234,479 shares worth $40.22 million.
1. Johnson & Johnson (NYSE:JNJ)
Number of Hedge Fund Investors: 80
Johnson & Johnson (NYSE:JNJ) is a multinational healthcare company that specializes in breast reconstruction and aesthetics through its subsidiary, MENTOR. The company provides tissue expanders, breast implants, and other surgical supplies for use in reconstructive and cosmetic breast surgery procedures. The Breast Implant Simulator app from Mentor simulates implant sizes by letting users upload images or utilize real-time video. It employs augmented reality to show the results of breast augmentation. In addition, it facilitates the sharing of findings for feedback, links users with nearby surgeons, and offers instructional information.
Stifel raised its price target on Johnson & Johnson (NYSE:JNJ) $155 to $160 and maintained a Hold rating. This comes after a successful year for J&J’s Innovative Medicine segment, which generated 8.8% annual growth and accounted for 65.5% of revenues. With 34.5% of revenues, the MedTech category grew by 4.4%. In the second quarter of 2024, management offered a positive view for the quicker expansion of the MedTech business, even in the face of competitive challenges and market dynamics in China.
Johnson & Johnson (NYSE:JNJ) reported Q2 revenues of $22.4 billion, up 4.31% from the same quarter the previous year, and adjusted profits per share of $2.82. These results led to an increase in the company’s projected 2024 sales from $89.2 billion to $89.6 billion.
It’s also important to note that Johnson & Johnson raised their operating sales projection, which was 5.8% before, to 6.4% at the midpoint of the guidance range as a result of the purchase of Shockwave Medical, a medical technology firm.
The company recently paid $1.25 billion to purchase Yellow Jersey, gaining the rights to NM26. Johnson & Johnson’s (NYSE:JNJ) CARVYKTI also showed advantages for survival in Phase 3 multiple myeloma research.
However, a $6.5 billion talcum powder settlement and decreased future revenue growth from Stelara are just two of the issues Johnson & Johnson has to cope with. Analysts expect just a 3% revenue gain in 2025. Despite these obstacles, Johnson & Johnson (NYSE:JNJ) has a proven track record of creating blockbuster medications, which shows promise for continued expansion.
In the first quarter of 2024, 80 hedge funds out of 920 reported holding an ownership stake. Thomas Bailard’s Bailard Inc is the largest stakeholder in the company, with 140,328 shares worth $20.51 million.
While we acknowledge the potential of Johnson & Johnson (NYSE:JNJ) to grow, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than JNJ but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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