Here’s Why ClearBridge Investments Invested in Johnson & Johnson (JNJ)

ClearBridge Investments, an investment management company, released its “ClearBridge Sustainability Leaders Strategy” second quarter 2022 investor letter. A copy of the same can be downloaded here. The fund’s portfolio outperformed the Russell 3000 benchmark Index in the second quarter of 2022. Stock selection and sector allocation contributed to the fund’s performance. For more information on the fund’s top picks in 2022, please check its top five holdings.

In the letter, ClearBridge Investments discussed its ClearBridge Sustainability Leaders Strategy portfolio. Johnson & Johnson (NYSE:JNJ) was mentioned in the letter. Johnson & Johnson (NYSE:JNJ) is a healthcare company headquartered in New Brunswick, New Jersey. The stock of Johnson & Johnson (NYSE:JNJ) closed at $171.11per share on August 5, 2022. One-month return of Johnson & Johnson (NYSE:JNJ)  was -4.06% and its shares lost 1.50% of their value over the last 52 weeks. Johnson & Johnson (NYSE:JNJ) has a market capitalization of $449.879 billion.

Here is what ClearBridge Sustainability Leaders Strategy specifically said about Johnson & Johnson (NYSE:JNJ) in its second-quarter investor letter:

“We reinforced our defensive capabilities during the quarter with the addition of Johnson & Johnson (NYSE:JNJ), a diversified health care company with a strong balance sheet, attractive profitability and return metrics and the ability to generate steady moderate growth. It has one of the more diversified and attractive pharmaceutical portfolios and an improving medical technology business, and it will soon be exiting the lower-growth consumer business. We believe new management has sharpened the strategy to improve execution in the medical device business and look for more meaningful capital allocation opportunities, which the balance sheet can easily support. Johnson & Johnson’s products and services have a clear positive impact on human health. The company’s long-held credo sets the tone for ethical business practices and considering all stakeholders in guiding its decision making and prioritizing patients and caregivers. The company also contributes to 11 Sustainable Development Goals (SDGS) through its Health for Humanity 2025 goals.”

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Johnson & Johnson (NYSE:JNJ) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 83 hedge fund portfolios held Johnson & Johnson (NYSE:JNJ) at the end of the first quarter which was 83 in the previous quarter.

We discussed Johnson & Johnson (NYSE:JNJ) in another article and shared the list of stocks which were affected by strong dollar. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.

Disclosure: None. This article is originally published at Insider Monkey.

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