5 Most Profitable Biotech Stocks Today

2. Johnson & Johnson (NYSE:JNJ)

Net Income TTM: $17.94 billion

Johnson & Johnson (NYSE:JNJ) is an American company operating in the pharmaceutical and healthcare industry. Janssen Biotech, its subsidiary, specializes in the development and marketing of biopharmaceutical products that address various medical conditions. The company employs 40,000 people worldwide and owns multiple patents, including that of STELARA, the largest product in the group’s portfolio.

On January 24, 2023, Johnson & Johnson (NYSE:JNJ) reported its Q4 2022 result, reporting revenue of $23.7 billion, falling short of market estimates by $194.7. The company’s Normalized EPS stood at $2.35, beating analysts’ average estimates by $0.11.

According to Insider Monkey’s database, 84 hedge funds held stakes worth $5.5 billion in Johnson & Johnson (NYSE:JNJ) in Q4 2022, compared to 85 funds in the prior quarter with stake worth $5.4 billion.

Here’s what Distillate Capital Partners LLC said about Johnson & Johnson (NYSE:JNJ) in its Q2 2022 investor letter:

“Johnson & Johnson was among the 2 largest trims at around 1% each. Each stock was up 1% in the quarter compared to the 16% price decline for the S&P 500 and the positions were reduced as the valuations became somewhat less appealing, though still attractive enough to warrant inclusion.”