Johnson & Johnson (NYSE:JNJ) is one of the shares Jim Cramer shared his thoughts on. Cramer noted how money managers are betting on an economic slowdown and commented:
“So let’s talk about Procter & Gamble and then let’s talk about a pharmaceutical company, J&J. Now, here are two companies that have products that you buy, no matter what. You need toothpaste and medicine regardless of how the economy is doing. J&J can thrive in a weak economy. If you look at the recent stock chart, you might think it’s found maybe the fountain of youth. J&J deserves to go higher, but not at this speed, not at this pace. It’s just recovering. this way because many money managers want to bet on a slowdown. “Now they’re overlooking Eli Lilly because it has a much higher price-earnings multiple, and those types of stocks are too risky to buy.”
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Johnson & Johnson (NYSE:JNJ) develops and sells healthcare products, including pharmaceuticals and medical technologies, with treatments in immunology, oncology, neuroscience, cardiovascular care and infectious diseases. Additionally, the company offers surgical systems, orthopedic solutions, cardiovascular devices and vision care products.
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Disclosure: None. This article was originally published in Internal jumpsuit.