Johnson & Johnson’s Earnings Report Impresses

If you’re going to have a “messy” quarter, you probably couldn’t do it much better thanJohnson & Johnson \did in the first quarter. Devices and Consumer continue to log disappointing results, but the higher-margin Pharma business is more than making up the difference. Priced for total annual returns in the mid-to-high single digits, Johnson & Johnson isn’t the cheapest health care play these days, but it remains a good all-weather pick with one of the best-growing large drug franchises.

 

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