Billionaire Ray Dalio’s Bridgewater Is Crazy About These 15 Stocks

9. Johnson & Johnson (NYSE:JNJ)

Bridgewater Associates’ Stake Value as of Q3: $238.2 million

Number of Hedge Fund Holders: 81

Johnson & Johnson (NYSE:JNJ), one of the largest global healthcare companies, boasts a diverse portfolio spanning pharmaceuticals, medical devices, and consumer health products. Its offerings range from everyday essentials like Band-Aids and Tylenol to cutting-edge medical devices and innovative prescription drugs.

Stifel analysts recently raised their price target for Johnson & Johnson (NYSE:JNJ) shares to $170 from $160, maintaining a Hold rating. The adjustment follows a strong third-quarter performance that exceeded both Stifel’s and consensus expectations, driven by robust results in the pharmaceutical segment. CFO Joe Wolk provided an optimistic outlook for 2025, projecting over $57 billion in sales within the Innovative Medicine sector despite the anticipated loss of exclusivity for STELARA. Additionally, MedTech sector growth is expected to reach the upper end of its long-term range of 5%-7%.

Further bolstering its outlook, Johnson & Johnson (NYSE:JNJ) reported positive Phase 3 trial results for TREMFYA® in treating ulcerative colitis and Crohn’s disease. The drug demonstrated superior endoscopic remission rates compared to ustekinumab and placebo, particularly among patients who were biologic-naïve or had not responded to previous treatments.