Is Johnson & Johnson (JNJ) The Most Profitable Healthcare Stock To Buy?

Johnson & Johnson (NYSE:JNJ) is among the most profitable healthcare stocks to buy. On January 22, TD Cowen lifted the price target on Johnson & Johnson (NYSE:JNJ) to $250, up from $222, and maintained a Buy rating, citing the company’s fourth quarter results. The revised price target reflects an upside potential of approximately 14%.

According to the firm, the initial projection of Johnson & Johnson (NYSE:JNJ) should uplift the consensus revenue and EPS forecasts for the healthcare powerhouse. From this year and beyond, the company’s Pharmaceutical and Medical Devices franchises are expected to continue their growth trajectory, TD Cowen noted.

On the same day, several other analysts updated their outlooks to better reflect the company’s Q4 performance, which exceeded market estimates with $24.6 billion in revenue. BofA Securities also slightly raised its price target on Johnson & Johnson (NYSE:JNJ) from $220 to $221 and reiterated a Neutral rating on the stock. The company’s financial results were described as “solid” by the firm, which attributes it to the growth drivers, particularly currency movements.

​Johnson & Johnson (NYSE:JNJ), headquartered in New Jersey, offers healthcare products worldwide. Founded in 1886, the company operates in two main segments: Innovative Medicine and MedTech.

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