5 Best Buy-the-Dip Stocks To Buy Now

2. Johnson & Johnson (NYSE:JNJ)

Number of Hedge Fund Holders: 88

Johnson & Johnson (NYSE:JNJ) has been struggling with legal claims against it regarding baby talc powder. Johnson & Johnson (NYSE:JNJ)’s chief litigation lawyer said the company was mulling over the possibility of initiating a bankruptcy filing. Johnson & Johnson (NYSE:JNJ) came close to its 52-week lows in October. However, the stock is loved by many due to its consistent dividend hikes, a diverse pipeline and strong fundamentals.

As of the end of the second quarter of 2023, 88 hedge funds out of the 910 funds tracked by Insider Monkey reported owning stakes in Johnson & Johnson (NYSE:JNJ). The biggest stakeholder of Johnson & Johnson (NYSE:JNJ) was Ray Dalio’s Bridgewater Associates which owns a $527 million stake in the company.