Jim Cramer Discussed These 29 Stocks Ahead Of Major AI Event

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7. Johnson & Johnson (NYSE:JNJ)

Number of Hedge Fund Holders In Q3 2024: 81

Johnson & Johnson (NYSE:JNJ) is a diversified healthcare and general wellness firm with a presence in the pharma, medical devices, and other markets. Its shares are down by 12% over the past year as higher costs from inflation have increased its spending to develop new drugs. Johnson & Johnson (NYSE:JNJ) is also battling its talcum powder cancer lawsuit which amounts to more than $6 billion in claims. Johnson & Johnson (NYSE:JNJ)’s stock was dealt another setback in January after it paused shipments of its heart device. Here is what Cramer said:

“So let’s keep track of the healthcare stocks, a lot of that is IRA. JNJ fighting this tooth and nail. Merck having a total multiple collapse. These are great American companies. But they are not trading like that. They are trading as value traps. I’d question how long that can go on, but I recognize we’ll know at the JPMorgan Healthcare Conference.”

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