#2 - Johnson & Johnson (NYSE:JNJ)
Johnson & Johnson (NYSE: JNJ) stock is down approximately 10% in 2023. This is despite the company putting its long-running talc lawsuit behind it. Some of this may be attributable to investors adopting more of a risk-on mindset and moving away from safe-haven sectors.
Speaking of safe-haven sectors, one concern could be that JNJ has spun off its consumer products division. Kenvue, Inc. (NYSE: KVUE) debuted in May 2023. That still leaves Johnson & Johnson with its pharmaceutical and medical devices businesses.
However, on the pharmaceutical front, investors may be concerned that the company has started to lose patent protection on Stelara. However, a patent thicket around the drug means that the company will retain patent protection on Stelara for specific indications for several years to come.
In that time, the company’s pipeline is likely to begin delivering additional revenue for investors. And while you wait, you get a dividend that currently has a yield of 2.99%. And JNJ is a dividend king that has increased its dividend in each of the last 62 years.
About Johnson & Johnson
Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.
More- Current Price
- $153.54
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 9 Buy Ratings, 9 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $170.67 (11.2% Upside)
