Jim Cramer and Billionaire Ray Dalio Are Betting on These 5 Stocks

3. Johnson & Johnson (NYSE:JNJ)

Number of Hedge Fund Holders: 83

Johnson & Johnson (NYSE:JNJ) researches and develops, manufactures, and sells various products in the healthcare field. On November 30, Johnson & Johnson said that it has developed digital solutions to reduce time spent in hospitals in Riyadh, Saudi Arabia. On November 24, Johnson & Johnson revealed that its esketamine nasal spray Spravato showed superior efficacy compared to quetiapine extended-release in adults with treatment-resistant major depressive disorder in a phase 3b trial. 13F filings show that Dalio owned more than 4.7 million shares in the company at the end of the third quarter of 2022 worth $769 million. Cramer has noted that the firm was one of the great American firms and that investors will not have time to buy the shares at such great prices if inflation were to fall.   

On November 17, Credit Suisse analyst Trung Huynh initiated coverage of Johnson & Johnson (NYSE:JNJ) stock with a Neutral rating and $170 price target, noting that improved valuation for the remaining businesses could pressure the company’s new dividend.

Among the hedge funds being tracked by Insider Monkey, Westport, Connecticut-based firm Ayrshire Capital Management is a leading shareholder in Johnson & Johnson (NYSE:JNJ) with 34,860 shares worth more than $5.7 million. 

In its Q2 2022 investor letter, Mayar Capital, an asset management firm, highlighted a few stocks and Johnson & Johnson (NYSE:JNJ) was one of them. Here is what the fund said:

“Johnson & Johnson (NYSE:JNJ) is currently our largest position and a long-standing holding. The majority of the group’s sales come from its collection of pharmaceutical franchises, but a large majority (~45%) comes from its collection of medical device businesses and its consumer brands.

Here’s how JNJ make and spends a dollar of revenues: As of 2021, about 55 cents of that dollar comes from its pharmaceutical sales – sales of drugs to pharmacies and distributors – while 30 cents come from the sale of medical devices, such as surgery equipment and orthopaedics. The rest of that dollar in sales comes from sales of JNJ’s consumer brands such as Listerine mouthwash, Nicorette nicotine tablets and Neutrogena cosmetics (…read more)