Johnson & Johnson (0.3%) (JNJ, Financial) (JNJ – $131.13 – NYSE) is the world’s largest and most diversified healthcare company. The company’s pharmaceutical business is one of the fastest growing in the industry, driven by multiple new oncology products and anti-inflammatory products. The consumer division is recovering after several years of manufacturing and quality problems, but it must continue to innovate and reformulate its products to meet consumer demands for natural and organic products. While the medical device business had been improving in recent quarters, it will be significantly impacted by the delay in elective surgeries during the Coronavirus outbreak. Johnson & Johnson has the management team and the strong balance sheet to emerge from the current crisis in a stronger position than ever before.
From Mario Gabelli (Trades, Portfolio)'s Gabelli Asset Fund first-quarter 2020 shareholder commentary.
