5 Best Healthcare Stocks To Buy Now

2. Johnson & Johnson (NYSE:JNJ)

Number of Hedge Fund Holders: 86

Johnson & Johnson (NYSE:JNJ) has become a more healthcare-focused company following the completion of the $41 billion spin-off and initial public offering (IPO) of its consumer healthcare group, Kenvue, in May. The company has now emerged as a candidate to take over Shockwave Medical, Inc. (NASDAQ:SWAV) alongside Medtronic plc (NYSE:MDT). There is a widespread belief that the New Brunswick, New Jersey-based pharmaceutical and medical device company could expand further by acquiring Shockwave Medical, Inc. (NASDAQ:SWAV) due to its expected revenue growth and strong but underappreciated drug pipeline.