J&J’s (JNJ, Financial) stock was weaker in the quarter as litigation uncertainty was more of a focus than the company’s strong business fundamentals. We think that J&J will work toward successfully resolving some of the major lawsuits it faces over the next few quarters, and as investor focus returns to business fundamentals, we expect the shares’ price performance will improve.
From Yacktman Asset Management (Trades, Portfolio)'s Yacktman Focused Fund (Trades, Portfolio) third-quarter 2019 shareholder letter.
