5 Best Medical Stocks to Invest In

1. Johnson & Johnson (NYSE: JNJ)

Market Cap: $432 billion
Number of Hedge Fund Holders: 81 

Johnson & Johnson (NYSE: JNJ) is an American medical corporation that develops and manufactures pharmaceuticals, medical equipment and devices, and consumer goods. It is one of the largest companies in the world with over 130,000 employees. Johnson & Johnson (NYSE: JNJ) remained a key player in producing Covid-19 vaccines which are approved by FDA. 

In Q1 2021, Johnson & Johnson (NYSE: JNJ) reported revenue of over $22.6 billion, up 8% during the same period last year. The EPS stood at $2.59, beating the market estimate of $2.34. The pharmaceutical sales accounted for 9.6% of the revenue at $12.1 billion in Q1. This growth is attributed to the single-dose Covid-19 vaccine, listed for emergency use by WHO. Earlier in May, Morgan Stanley raised the price target on JNJ stock to $187, rating the stock as ‘Overweight’. Similarly, Wells Fargo also maintained an ‘Overweight’ rating on the stock. 

At the end of Q1 2021, 81 hedge funds tracked by Insider Monkey have positions in Johnson & Johnson (NYSE: JNJ), worth $6.9 billion. 

You can also take a peek at 10 Cheap Pharmaceutical Stocks For 2021 and 12 Best Telemedicine Stocks To Buy.

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