While signs of stress appear evident in the equity markets, with the VIX index hovering around six-month highs and interest rates falling to the 2.2% area, Johnson & Johnson (NYSE: JNJ) reported a mixed trading update today that confirms its stock is hardly a bargain at current prices -- although, the bulls argue, it is not incredibly expensive, either.
Value
Its shares change hands at about $125, which implies a forward price to earnings ratio of 19x, based on reported earnings per share of $6.6 for 2017, as well as an enterprise value to Ebitda ratio of 11.9x.
