7 Cheap Global Stocks to Buy Right Now

2. Johnson & Johnson (NYSE:JNJ)

Forward P/E ratio as of February 24^th: 14.81x

Number of Hedge Fund Holders: 98

Johnson & Johnson (NYSE:JNJ) is a global healthcare giant with a diversified portfolio spanning pharmaceuticals, medical devices, and consumer health products. Known for its strong brand presence and research-driven approach, JNJ has built a reputation for innovation in areas like immunology, oncology, and surgical technology. The company recently restructured by spinning off its consumer health division, Kenvue, to sharpen its focus on higher-margin pharmaceutical and medtech businesses. With a robust pipeline of new therapies and a defensive business model, JNJ remains a key player in the healthcare sector, benefiting from stable demand and long-term demographic trends. It is one of the best cheap global stocks to monitor.

Johnson & Johnson (NYSE:JNJ) maintains confidence in achieving 3% growth in 2025 and 5-7% compound average growth from 2025 to 2030, which is above the historical average. The company’s success is built on two foundational elements: a clear purpose through its credo and a broadly diversified healthcare model. The acquisition of Intra-Cellular Therapies, announced in January, is expected to lift sales growth through the rest of the decade, with CAPLYTA projected to become a $5 billion asset. In the pharmaceutical segment, management expects to have 10 assets with peak year sales exceeding $5 billion by decade’s end, with 70% of pipeline assets already in Phase III. The MedTech business is positioned for growth, with 50% of sales now in markets growing more than 5%, and by 2027, one-third of sales are expected to come from new products.

Johnson & Johnson (NYSE:JNJ)’s multiple myeloma franchise is anticipated to become a $25 billion franchise by the end of the decade, with approximately 50% share of Johnson & Johnson regimens. The company maintains financial strength to pursue deals while addressing other capital allocation priorities like dividends, though larger deals are considered outliers with the majority of value creation coming through smaller, tuck-in acquisitions. Despite the optimistic long-term outlook and guidance, JNJ still trades at a cheap 14.81x forward P/E.