7 Best Cheap Stocks to Buy According to Billionaire Ray Dalio

2) Johnson & Johnson (NYSE:JNJ)

Bridgewater Associates’ Stake Value: $468,341,219

Number of Hedge Fund Holders: 80

Forward P/E Ratio as of 4 October: 14.77x

Johnson & Johnson (NYSE:JNJ) is engaged in researching, developing, manufacturing, and selling various products in the healthcare field worldwide.

The market experts opine that Johnson & Johnson (NYSE:JNJ)’s long-term growth trajectory should continue to be aided by its diverse revenue base, strong pipeline, and healthy cash flow generation.  Its Innovative Medicine business is expected to continue to be a significant growth catalyst. Johnson & Johnson (NYSE:JNJ) expects that MedTech segment growth should be aided by various factors, including new product integrations. The experts are optimistic about the positive advancements in the MedTech pipeline and recent acquisitions.

In Q2 2024, Innovative Medicine margin saw an improvement as a result of the AbleData partnership. Johnson & Johnson (NYSE:JNJ) remains confident in maintaining its growth guidance of more than 3% in 2025 and 5% – 7% through 2030. While the company is optimistic about securing premium pricing for differentiated innovations, its market leadership should help it in tackling competition and challenges. Johnson & Johnson (NYSE:JNJ) remains focused on the Chinese market and believes in the market’s long-term growth potential.

Johnson & Johnson (NYSE:JNJ)’s financial health, demonstrated by significant sales growth and healthy earnings, reflects its strategic initiatives and robust product pipeline. The market players are quite optimistic about the company’s recent acquisition of V-Wave Ltd. This acquisition is expected to extend MedTech’s position as an innovation leader in addressing cardiovascular disease. It should also accelerate its shift into high-growth and high-opportunity markets and deepen the relationships with structural interventional cardiologists and heart failure specialists.

Analysts at Cantor Fitzgerald reaffirmed an “Overweight” rating on the shares of Johnson & Johnson (NYSE:JNJ), issuing a $215.00 target price on 30^th September 2024.