5 Best Big Pharma Stocks to Buy Now

1. Johnson & Johnson (NYSE:JNJ)

Number of Hedge Fund Holders: 88

Topping the list of 10 best big pharma stocks to buy now is American drug manufacturer Johnson & Johnson (NYSE:JNJ). The New Jersey-based drugmaker sells pharmaceuticals, consumer health products, and medical devices.

On September 7, Morgan Stanley analyst Matthew Harrison assigned an Equal-weight rating to Johnson & Johnson (NYSE:JNJ) and set a price target of $187 per share.

In the second quarter of 2021, Johnson & Johnson (NYSE:JNJ) reported an EPS of $2.48, beating estimates by $0.20. The company’s revenue in the second quarter came in at $23.31 billion, up 27.1%, and beat estimates by $802.29 million. The stock has gained 4%, year to date.

At the end of the second quarter of 2021, 88 hedge funds in the database of Insider Monkey held stakes worth $7.05 billion in Johnson & Johnson (NYSE:JNJ), up from 81 in the previous quarter worth $6.91 billion.

Out of the hedge funds being tracked by Insider Monkey, a London-based hedge fund firm, Fundsmith LLP is a leading shareholder in Johnson & Johnson (NYSE:JNJ) with 7,155,706 shares worth more than $1.17 billion.

Distillate Capital mentioned Johnson & Johnson (NYSE:JNJ) in its Q2 2021 investor letter:

“The largest additions in the rebalance, Johnson & Johnson was around 50 and 40 basis points incrementally. J&J underperformed in the quarter while its normalized free cash flows held steady and so its position size was topped off to match the stable cash flows.”

You can also take a peek at the 10 Dividend Stocks for the Small-Cap Investor and 10 Best Stocks for Dividends.

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