Johnson & Johnson continues gains for eight straight sessions

Johnson & Johnson (NYSE:JNJ) continued gains for an eighth straight session, as the stock closed 1.08% higher at $164.10 on Friday.

The New-Jersey based healthcare giant gained 2.44% in the preceding seven sessions. Overall the stock has gained about 3.6% so far this year compared to a 17% rise in the broader S&P 500 Index.

JNJ is up 2% over the past one month. The stock closed 0.57% higher on Thursday at $162.35.

Looking at Seeking Alpha’s Quant rating, JNJ has a HOLD rating with a score of 3.26 out of 5. The company has received A+ in terms of profitability, while an F in the prospect of revisions.

Among the Wall Street analysts, 11 analysts have given JNJ a Buy and above. 12 analysts recommend to Hold the stock, while none of them recommend Sell.

Seeking Alpha analysts are also bullish and have rated the pharmaceutical giant a Buy.

Johnson & Johnson’s chemotherapy-free drug combination got approval in the U.S. on Tuesday as the first-line of treatment for patients with EGFR-mutated advanced lung cancer pointing towards regained optimism in the stock’s future.

JNJ also recently announced plans to acquire V-Wave, a company which focuses on treatment options for cardiovascular diseases for an upfront payment of $600M.

Seeking Alpha investor Leo Nelissen was bullish on JNJ and noted that the company is regaining momentum with strong growth in its MedTech segment, driven by new products and strategic acquisitions.