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TheStreet Open House

6 Strong Buys Breaking Near 52-Week Highs

Stocks in this article: RFJNJSNVHOVTWX

JNJ Chart JNJ data by YCharts

Johnson & Johnson (JNJ)

Background: Johnson & Johnson, together with its subsidiaries, engages in the research and development, manufacture, and sale of various products in the health care field worldwide. Founded in 1886, it is based in New Brunswick, N.J. Johnson & Johnson trades an average of 10 million shares per day with a market cap of $191 billion.

52-Week High: $69.75 TheStreet'sJim Cramer writes about Johnson & Johnson in The Market's Unheeded Flashing Signals

More than half the analysts covering Johnson & Johnson rate it as a buy or strong buy. Fifteen of the 26 analysts covering the company give a buy recommendation. Eleven analysts rate it a hold, and none of the analysts recommend selling.

The stock increased in value 11% during the last year, and the average analyst target price for Johnson & Johnson is $73.80.

This stock currently has an annualized dividend of $2.44, yielding 3.5%. The yield alone almost justifies an allocation of some capital. Not everyone is convinced buying is the correct choice, though. Along with the 11 analysts with hold ratings, short-sellers are taking an interest.

With short interest above 5%, investors will want to monitor changes to know whether short-sellers turn up the warning signals. Otherwise, the current 6% of the float short is relatively small and not a major concern.

From a technical perspective, the chart on Johnson & Johnson looks interesting. The widely followed moving averages and price action are strongly bullish. Johnson & Johnson shareholders have to be pleased right now. Don't be surprised to see Johnson & Johnson over $70 a share, and within 10 to 15 days.

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