Stock price when the opinion was issued
After spinoff, now just pharma and medical technologies/devices. One of 2 AAA-rated US companies (the other is MSFT). Pristine balance sheet forever. Divvy increases for 62 consecutive years, all from free cashflow. Crazy-cheap valuation of 14-15x PE, partly due to ongoing talc litigation. Yield is 3.34%.
Recent press release was like none other. Company stated talc litigation based on fake science; if the other side won't settle, JNJ will litigate each and every case separately. He suspects this is a ploy to force a settlement. Expects it to be over by year's end.
You can own, collect the dividend and in coming years will likely be higher. This is mixed in with current worries over healthcare stocks, but this will pass. JNJ has stable earnings and cash flow. Happy to hold on.