JNJ Analysis: At a 52-Week High and Reshaping Its Portfolio — Why Johnson & Johnson's Best Days May Still Be Ahead
Johnson & Johnson is trading at $246.61, within touching distance of its 52-week high of $246.88 and a staggering 74% above its 52-week low of $141.50. That kind of run from a $594 billion healthcare giant isn't supposed to happen — and yet here we are, watching one of the most defensive names in the market act like a growth stock. The catalyst isn't a single product launch or earnings beat. It's a wholesale reshaping of what JNJ actually is. Today's news that the company is exploring a $20 billion sale of its orthopedics unit, combined with a $1 billion investment in cell therapy manufacturing in Pennsylvania, tells you everything about where management is taking this business: away from commoditized medical devices and toward the high-margin frontier of biologics and cell-based therapies. For investors who bought the Kenvue spinoff dip below $150, the returns have been exceptional. The question now is whether JNJ at 22x earnings still offers value, or whether the portfolio transformation is already priced in.