In its latest 13F filing for the third quarter, Banyan Capital Management Inc. reported the acquisition of 3,853 shares of Johnson & Johnson, representing approximately 0.3% of its total holdings and marking JNJ as Banyan’s 22nd largest position. The newly purchased stake was valued at roughly $714,000 at the time of the transaction. This move reflects Banyan’s selective increase in exposure to J&J’s diversified healthcare businesses, which include pharmaceuticals, medical devices and consumer health products.

Several other major investors adjusted their positions during the same reporting period. Norges Bank initiated a new stake valued at about $4.88 billion in Q2, while Laurel Wealth Advisors increased its J&J holdings by more than 15,000%, ending the quarter with 7.42 million shares (approximately $1.13 billion). Vanguard Group added 3.09 million shares, bringing its total to 237.05 million (roughly $36.21 billion), and Geode Capital Management grew its stake by 2.1% to 60.61 million shares (about $9.23 billion). Legal & General Group also expanded its position by 6.2% to 18.92 million shares, worth nearly $2.89 billion. Collectively, institutional investors now control 69.6% of J&J’s outstanding stock.

On the regulatory front, the European Medicines Agency’s CHMP issued a positive opinion for AKEEGA (niraparib plus abiraterone) in BRCA1/2-mutant metastatic hormone-sensitive prostate cancer, paving the way for a new oncology revenue stream. In quick succession, Daiwa Capital Markets raised its rating to Outperform and set a target of $237, Morgan Stanley upgraded J&J on a stronger growth outlook, and Scotiabank lifted its target to $265 after solid quarterly results, all underscoring consensus bullishness among analysts regarding J&J’s near-term upside.