Introduction
Johnson & Johnson (NYSE:JNJ) has reached the iconic level reached by International Business Machines (NYSE:IBM) years ago, where the initials fully describe the company. As one of only two AAA-rated corporations in the US, JNJ is at the top of the heap in several ways. As a healthcare company with exposure to biotech and other dynamic sectors, JNJ would superficially appear to be as much of a "buy the dip" sort of stock as one could ask for.
My take is somewhat different, however. There are signs that JNJ has begun to turn into a slow grower, despite its best-in-breed Big Pharma division (my personal opinion, not proven fact).
This is my fifth article on JNJ. It seems as though 1-2 times a year, I find enough going on to provide some updated thoughts on the company and the stock, and this is one of those times. However, as with my last reviews, I continue to see this stock as a bond substitute.
