5 Best Pharma Stocks To Buy Now

1. Johnson & Johnson (NYSE:JNJ)

Number of Hedge Fund Holders: 88

Johnson & Johnson (NYSE:JNJ), established in 1886, stands as a prominent American multinational corporation celebrated for its groundbreaking advancements in medical devices, pharmaceuticals, and consumer packaged goods. Notably, the pharmaceutical division of the company boasts an impressive track record of maintaining dividend growth for over 62 years. As of October 24, Johnson & Johnson (NYSE:JNJ) offers a quarterly dividend of $1.19 per share, resulting in a dividend yield of 3.14%.

On October 17, Johnson & Johnson (NYSE: JNJ) announced adjusted earnings and revenue that exceeded the forecasts of Wall Street, and subsequently increased its full-year guidance due to robust sales in both its pharmaceutical and medical devices divisions. The pharmaceutical company also disclosed net income of $4.31 billion, equivalent to $1.69 per share. This figure remained consistent with the net income of $4.31 billion, or $1.62 per share, reported for the corresponding period in the previous year.

In the second quarter of 2023, the number of hedge funds tracked by Insider Monkey with holdings in Johnson & Johnson (NYSE:JNJ) increased to 88, up from 86 in the prior quarter. The collective investments by these hedge funds surpass a total value of $4.1 billion. The leading hedge fund investor in Johnson & Johnson (NYSE:JNJ) is Bridgewater Associates, managed by Ray Dalio, with a substantial stake valued at approximately $526.58 million.

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