Johnson & Johnson Posts Steady 2Q With Growth Across Business Segments as Drug Pipeline Looks Solid
We don't expect any changes to our fair value for Johnson & Johnson after the firm reported second-quarter results largely in line with our expectations (after adjusting for divestitures) and slightly ahead of consensus expectations. We continue to view the stock as fairly valued and have factored in close to $3 billion in litigation charges for the opioid and talcum powder legal cases. Further, the firm's wide moat looks intact, especially following a research and development update for its...Johnson & Johnson is a holding company engaged in the research and development, manufacture and sale of a range of products in the health care field. The company has three business segments: Consumer, which includes a range of products focused on personal healthcare used in the beauty, over-the-counter pharmaceutical, baby care, oral care, women's health and wound care markets; Pharmaceutical, which is focused on six therapeutic areas: immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism and pulmonary hypertension; and Medical Devices, which includes products used in the orthopaedic, surgery, interventional solutions, and eye health fields.
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