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Thanks for posting that. I had read of the huge awards this summer. I was unaware they had been accused of knowiing there was an issue for 40 years. I guess there are about 12,000 lawsuits filed against JNJ including the artificial hip problem which is about 8,000 litigants. That's an outrageous volume, and the awards get more ludicrous each year. It's not just JNJ being sued of course. It's not too hard to figure out why wonder why medical costs are soaring. I don't suggest negligence or criminal acts go unpunished at all, but this is out of hand and not good for the consumer or the stockholders.
I expect JNJ may go down a bit more this week before it settles out. I'd like to think the free fall is about over. Dividend increases will probably be stingy for a few years. I'll be paying closer attention to earnings estimates and associated one time charges.
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Johnson & Johnson (JNJ) today announced that the Board of Directors has authorized the repurchase of up to $5 billion of the company's common stock.
Way to fight back JNJ. They also reaffirmed guidance after the close.
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12-17-2018, 07:21 PM
(This post was last modified: 12-17-2018, 07:22 PM by fenders53.)
That is good news. Now is when you need buybacks to stop the bleeding. I wish AAPL had saved the billions cash they blew the past six months when stock was $50 higher. Stock might be $15 higher now. Instead of buying back every quarter I wish they saved it for a rainy day. A year from now we'd be better off if they just earmarked a reserve and collected the interest while they waited for a bargain.
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Resurrecting this thread. I would think, with JNJ's single shot vaccine about to become available, that this stock at present is under-valued. Thoughts?
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JNJ could have a real moneymaker in the vaccine IF this turns out to be a yearly thing. And quite frankly, with all the panic going on and stupid COVID rules springing up all over the globe, I wouldn't be surprised to see the governments recommending a booster dose every year. (for the next few years at least) JNJ certainly has the upper side there with a single shot. (saves so much time for everyone)
Also a big boost coming to the medical devices section once non-urgent operations will resume at their normal pace globally.
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Agree a single dose will be the goal going forward. I suspect they will all strive for that next season. They will have more data than any new drug has ever seen.