5 Best Defensive Stocks to Buy Now

3. Johnson & Johnson (NYSE:JNJ)

Number of Hedge Fund Holders: 85

Year to Date Performance as of 11/29: 2.65%

Johnson & Johnson (NYSE:JNJ) ranks #3 on our list of 12 Best Defensive Stocks to Buy Now given its strong healthcare conglomerate business that has increased earnings over time. Given demand for healthcare doesn’t change all that much in tough times, Johnson & Johnson (NYSE:JNJ)’s business isn’t very cyclical, which allows the company to continue to raise its annual dividend for 60 consecutive years. As a stock, Johnson & Johnson (NYSE:JNJ) has also done well with shares up 2.65% year to date despite the S&P 500 declining 17.5% in 2022.