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10 Growth Stocks to Buy on Dips in 2020 - 1 of 10

#1 - Johnson & Johnson (NYSE:JNJ)

Johnson & Johnson logo

Johnson & Johnson (NYSE: JNJ) - Defensive stocks are one of the first places to look for quality growth stocks that manage to avoid prolonged declines. One reason for this can be their tendency to pay dividends. But that's not the real story with J&J. While it's true that 56 consecutive years of dividend increases makes them not only a Dividend Aristocrat but a Dividend King, the dividend yield of 2.7% is not in and of itself something that will move the needle for many investors. The bigger story for J&J is their slow, steady growth that comes because of, or maybe in spite of, their massive size. Johnson & Johnson has a $360 billion market cap with revenue of over $81 billion stemming from their core business units in pharmaceuticals (50%), medical devices (33%), and consumer health products (17%). Some analysts are projecting a long-term target for J&J stock to be over $148. That’s a nice gain from the stock’s current price of $137.20 per share and the company currently has an impressive 25.40 P/E value and annual earnings-per-share growth of 7.6%.

About Johnson & Johnson
Johnson & Johnson researches and develops, manufactures, and sells various products in the health care field worldwide. It operates in three segments: Consumer, Pharmaceutical, and Medical Devices. The Consumer segment offers baby care products under the JOHNSON'S brand; oral care products under the LISTERINE brand; beauty products under the AVEENO, CLEAN & CLEAR, DR. Read More 

Current Price: $144.00
Consensus Rating: Buy
Ratings Breakdown: 10 Buy Ratings, 3 Hold Ratings, 0 Sell Ratings.
Consensus Price Target: $166.08 (15.3% Upside)

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