Market Commentary

Ro Khanna invests in Healthcare stocks

Jabran Kundi
6 Feb 2024 · 1 minute read

Rep. Ro Khanna is a progressive Democrat who represents the 17th congressional district of California. In March 2023, he executed a considerable amount of trades, most notably in the healthcare sector. 

As per the filing, he bought $65,000 to $150,000 worth of Johnson & Jonson (JNJ:US), $51,000 to $115,000 worth of Unitedhealth Group Inc (UNH:US) and $15,000 - $50,000 of Merck & Co Inc (MRK:US). This was in addition to relatively smaller quantities of other healthcare stocks including Medtronic PLC (MDT:US), Abbott Laboratories (ABT:US), Amgen Inc (AMGN:US), Vertex Pharmaceuticals Inc (VRTX:US), Illumina Inc (ILMN:US), and Moderna (MRNA:US).

The Congressman wasn’t just piling money into these stocks in the month of March. He also sold a number of different stocks in the healthcare sector. The two biggest reported sales were $51,000 to $115,000 worth of Bristol-Myers Squibb Co (BMY:US) and $50,000 - $100,000 worth of Pfizer Inc (PFE:US).

Some of the healthcare stocks that Congressman Khanna traded have been in the news this past week. Johnson & Johnson announced that it would pay $9 billion in damages to settle Talc lawsuits. Meanwhile, Bristol-Myers Squibb also settled its dispute with Dana-Farber. Moderna has been upbeat about its ability to offer new vaccines for heart diseases, cancer, and other conditions. But its shares took a blow when a couple of days ago when it announced that it had not enrolled enough cases in the late-stage trial of its flu vaccine. The stock took a beating after the news announcements but recovered all the losses in Thursday's trading session.