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Healthcare stocks have taken a hit since U.S. President-elect
Donald Trump vowed to bring down drug prices. (http://ti.me/2gkkFhL)(http://ti.me/2gaNCsX)
It remains one of the worst performing S&P 500
sectors for 2016, and is down about 5 percent this year versus
an S&P 500 gain of about 10 percent.
However, J&J is less susceptible to changes in pricing than its
peers, Barron's said in its report, adding that the company
could in fact prosper from Trump's plans to lower corporate
taxes.
The company is also making substantial improvements in its
consumer and medical devices businesses, according to the
Barron's report. Reduced concern about competition for the
company's blockbuster Remicade arthritis drug could also help
bolster the stock, the report said.
In the third quarter, J&J's global medical device sales rose 1.1
percent to $6.16 billion, while consumer product sales fell 1.6
percent to $3.26 billion.
Shares of J&J closed at $112.26 on the New York Stock Exchange
on Friday.
(Reporting by Devika Krishna Kumar in New York; Editing by Alan
Crosby)
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