5 Best Cancer Stocks To Buy Now

Page 5 of 5

1. Johnson & Johnson (NYSE:JNJ)

Number of Hedge Fund Holders: 88

Johnson & Johnson (NYSE:JNJ) conducts research, development, manufacturing, and distribution of healthcare products worldwide. The company’s Pharmaceutical segment offers products for different medical conditions, including  prostate cancer, hematologic malignancies, lung cancer, and bladder cancer, autoimmune diseases, infectious diseases, mental health disorders, as well as treatments for thrombosis, diabetes, macular degeneration, and pulmonary arterial hypertension. On September 6, Johnson & Johnson (NYSE:JNJ)’s Janssen division reported that its bispecific antibody Rybrevant successfully achieved the dual primary objective of extending progression-free survival in a Phase 3 clinical trial involving lung cancer patients with particular genetic mutations.

According to Insider Monkey’s second quarter database, 88 hedge funds were bullish on Johnson & Johnson (NYSE:JNJ), up from 86 funds in the preceding quarter. Ray Dalio’s Bridgewater Associates held a significant position in the company, with 3.18 million shares valued at $526.59 million.

ClearBridge Large Cap Value Strategy made the following comment about Johnson & Johnson (NYSE:JNJ) in its first quarter 2023 investor letter:

“The tech-dominated quarter was a headwind for both defensive and cyclical sectors, with shares of health care holdings such as UnitedHealth Group (UNH), Elevance (ELV) and Johnson & Johnson (NYSE:JNJ) declining after a strong 2022.”

Follow Johnson & Johnson (NYSE:JNJ)

Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily enewsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below. You can also check out 12 Best Artificial Intelligence (AI) Stocks To Buy According to Hedge Funds and Top 25 Digital Countries in the World.

Page 5 of 5