JNJ

Johnson & Johnson (JNJ)

Johnson & Johnson (JNJ) announced it would buy Synthes, Inc. for $21.3 billion in cash and stock. It is the largest takeover in JNJ’s 125-year history. The purchase will give JNJ a dominant position in the trauma market–Synthes dominates 50% of the market for sales of screws, plates, bone grafts, and other products to treat … Read more

Johnson & Johnson (JNJ)

We find it quite interesting and definitely compelling that equities of well-financed U.S. multinationals are selling at some of the lowest valuation in years, if not decades. Many of these U.S. multinationals now outyield the 10-year Treasury note. While academics teach that lower interest rates imply higher price-earnings multiples, many of our portfolio blue chip … Read more