5 Jim Cramer Stocks to Watch in August

1. Johnson & Johnson (NYSE:JNJ)

Number of Hedge Fund Holders: 83

Johnson & Johnson (NYSE:JNJ) is an American multinational healthcare firm. When a viewer on a Lightning Round on July 26 enquired about GSK plc (NYSE:GSK), Cramer said he prefers Johnson & Johnson (NYSE:JNJ), noting “What’s not to like?” about the healthcare firm. Johnson & Johnson (NYSE:JNJ) is a reliable dividend king, with 60 consecutive years of annual dividend increases under its belt. 

On July 21, UBS analyst Kevin Caliendo reaffirmed a Neutral rating on Johnson & Johnson (NYSE:JNJ) and lowered the firm’s price target on the shares to $180 from $185. The company’s Q2 results reiterated the macro headwinds, which include sizable forex movements, continuing inflation, and lagging elective procedure recovery, the analyst told investors in a research note. He added that China will possibly be a drag on MedTech, but at 5% of Johnson & Johnson (NYSE:JNJ)’s sales, the risk appears “largely contained”.

Among the hedge funds tracked by Insider Monkey, Arrowstreet Capital held the leading stake in Johnson & Johnson (NYSE:JNJ) as of Q1 2022, with 6.65 million shares worth $1.17 billion. Overall, 83 hedge funds were bullish on Johnson & Johnson (NYSE:JNJ) at the end of Q1 2022, with collective stakes worth $7.40 billion. 

You can also take a look at This Analyst Is Bearish on These 15 Retail Stocks Amid “Soft Landing” Expectations and The 10 Stocks That Jim Cramer Is Talking About.

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