Jim Cramer Recommended Selling These 5 Stocks

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1. Johnson & Johnson (NYSE:JNJ)

Number of Hedge Fund Investors: 84

Jim Cramer last year said his charitable trust sold Johnson & Johnson due to consistent legal troubles of the company. Cramer said he had initially believed Johnson & Johnson (NYSE:JNJ) had acted in good faith and was not aware of the harmful ingredients in its baby talc powder. But persistent lawsuits and lost legal battles forced Cramer to hit eject on the stock.

Johnson & Johnson (NYSE:JNJ) stock is down by about 1% over the past six months.

As of the end of the third quarter of 2023, 84 hedge funds tracked by Insider Monkey had stakes in Johnson & Johnson (NYSE:JNJ).

ClearBridge Large Cap Value Strategy made the following comment about Johnson & Johnson (NYSE:JNJ) in its Q3 2023 investor letter:

“The health care space provided some opportunities in the quarter, as we increased our exposure to medical device company Becton, Dickinson as well as large cap pharmaceutical company Johnson & Johnson (NYSE:JNJ). Johnson & Johnson recently spun out its consumer health care business, becoming a more focused yet broadly diversified pharmaceutical and medtech company.”

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