Health care products for the masses
On Financial Tides I always try to find stocks that are hitting new highs. Johnson and Johnson -- JNJ is just such a stock. JNJ has hit 15 new highs in the last 20 trading sessions and is 3 for 5 recently. There has been a consistent 9.86% price appreciation in the last 65 days. On BarChart the technical indicators for a buy signal are 12 for 13 with just 1 hold for a 96% buy rating.
JNJ is engaged in the manufacture and sale of a broad range of products in the health care field in many countries of the world. The company's worldwide business is divided into three segments: Consumer, Pharmaceutical and Professional. As I say health care products for the masses.
Wall Street analysts like this stock too. The 21 analysts who follow the stock have 13 buy recommendations with the rest hold. No sell recommendations from any of them. They expect a 4.7% increase in sales and a 7.6% increase in earnings per share.
Other sites confirm my buy with the Motley Fool CAPS members giving the stock an out perform the market vote of 12,080 to 417 and the All Stars 3021 to 61. The Motley Fool Wall Street consensus is 30 to 1.
This stock has what I look for and is being added to my Marketocracy VMNHI portfolio:
1 - Hitting new highs better than 50% of the time and a BarChart technical rating above 80%
2 - If it has a Wall Street following no major trash talking
3 - Confirmation from other sites that it has a following
Recommendation: I'm adding Johnson & Johnson -- JNJ -- to my Marketocracy VMNHI portfolio around 63.75 with a stop loss no lower than 61.
Jim Van Meerten is an investor who writes on financial matters here and on Financial Tides. Please leave a comment below or email FinancialTides@gmail.com
Disclosure: No positions in JNJ at time of publication