{"id":4079,"date":"2026-06-08T11:56:38","date_gmt":"2026-06-08T09:56:38","guid":{"rendered":"https:\/\/mumak.me\/?p=4079"},"modified":"2026-06-08T13:39:29","modified_gmt":"2026-06-08T11:39:29","slug":"valuation-analysis-johnson-johnson","status":"publish","type":"post","link":"https:\/\/mumak.me\/en\/research-insights\/valuation-analysis\/valuation-analysis-johnson-johnson\/","title":{"rendered":"Valuation Analysis: Johnson &#038; Johnson"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"4079\" class=\"elementor elementor-4079 elementor-4078\" data-elementor-post-type=\"post\">\n\t\t\t\t<div class=\"elementor-element elementor-element-ab0bcff e-flex e-con-boxed e-con e-parent\" data-id=\"ab0bcff\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-71b808b elementor-widget elementor-widget-text-editor\" data-id=\"71b808b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h2>Brief Introduction \u2013 Johnson &#038; Johnson<\/h2><p><span data-contrast=\"none\">Johnson &#038; Johnson is one of the world&#8217;s leading healthcare companies, operating in Innovative Medicine and Medical Technology (MedTech). The investment case is based on defensive demand in healthcare, strong cash flow generation, a broadly diversified product pipeline, attractive growth prospects in the MedTech segment, and an exceptionally solid balance sheet. <\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559685\":0,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><p><span data-contrast=\"none\">The company combines several growth engines under one roof:<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559685\":0,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"302\" data-list-defn-props=\"{\"335552541\":1,\"335559685\":720,\"335559991\":360,\"469769226\":\"Symbol\",\"469769242\":[8226],\"469777803\":\"left\",\"469777804\":\"\uf0b7\",\"469777815\":\"hybridMultilevel\"}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><strong>Innovative Medicines (Pharma) <\/strong><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"302\" data-list-defn-props=\"{\"335552541\":1,\"335559685\":720,\"335559991\":360,\"469769226\":\"Symbol\",\"469769242\":[8226],\"469777803\":\"left\",\"469777804\":\"\uf0b7\",\"469777815\":\"hybridMultilevel\"}\" data-aria-posinset=\"2\" data-aria-level=\"1\"><strong>Medical Technology (MedTech) <\/strong><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"302\" data-list-defn-props=\"{\"335552541\":1,\"335559685\":720,\"335559991\":360,\"469769226\":\"Symbol\",\"469769242\":[8226],\"469777803\":\"left\",\"469777804\":\"\uf0b7\",\"469777815\":\"hybridMultilevel\"}\" data-aria-posinset=\"3\" data-aria-level=\"1\"><strong>Leading position in oncology <\/strong><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"302\" data-list-defn-props=\"{\"335552541\":1,\"335559685\":720,\"335559991\":360,\"469769226\":\"Symbol\",\"469769242\":[8226],\"469777803\":\"left\",\"469777804\":\"\uf0b7\",\"469777815\":\"hybridMultilevel\"}\" data-aria-posinset=\"4\" data-aria-level=\"1\"><strong>Strong franchises in immunology and neuroscience <\/strong><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"302\" data-list-defn-props=\"{\"335552541\":1,\"335559685\":720,\"335559991\":360,\"469769226\":\"Symbol\",\"469769242\":[8226],\"469777803\":\"left\",\"469777804\":\"\uf0b7\",\"469777815\":\"hybridMultilevel\"}\" data-aria-posinset=\"5\" data-aria-level=\"1\"><strong>Innovations in the cardiovascular field <\/strong><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"302\" data-list-defn-props=\"{\"335552541\":1,\"335559685\":720,\"335559991\":360,\"469769226\":\"Symbol\",\"469769242\":[8226],\"469777803\":\"left\",\"469777804\":\"\uf0b7\",\"469777815\":\"hybridMultilevel\"}\" data-aria-posinset=\"6\" data-aria-level=\"1\"><strong>Surgical and ophthalmological technologies <\/strong><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"302\" data-list-defn-props=\"{\"335552541\":1,\"335559685\":720,\"335559991\":360,\"469769226\":\"Symbol\",\"469769242\":[8226],\"469777803\":\"left\",\"469777804\":\"\uf0b7\",\"469777815\":\"hybridMultilevel\"}\" data-aria-posinset=\"7\" data-aria-level=\"1\"><strong>Long-term dividend growth <\/strong><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"302\" data-list-defn-props=\"{\"335552541\":1,\"335559685\":720,\"335559991\":360,\"469769226\":\"Symbol\",\"469769242\":[8226],\"469777803\":\"left\",\"469777804\":\"\uf0b7\",\"469777815\":\"hybridMultilevel\"}\" data-aria-posinset=\"8\" data-aria-level=\"1\"><strong>Balance Sheet Quality <\/strong><\/li><\/ul><p><span data-contrast=\"none\">Unlike many pure pharmaceutical companies, Johnson &#038; Johnson benefits from unique diversification between medicines and medical technology. This significantly reduces dependence on individual products. <\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559685\":0,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-6fc547c e-con e-atomic-element e-div-block-base e-6fc547c-de8a3ea \" data-id=\"6fc547c\" data-element_type=\"e-div-block\" data-e-type=\"e-div-block\" data-interaction-id=\"6fc547c\" data-e-type=\"e-div-block\" data-id=\"6fc547c\">\n    <div class=\"elementor-element elementor-element-969f4aa e-con e-atomic-element e-div-block-base e-969f4aa-67d7b1f \" data-id=\"969f4aa\" data-element_type=\"e-div-block\" data-e-type=\"e-div-block\" data-interaction-id=\"969f4aa\" data-e-type=\"e-div-block\" data-id=\"969f4aa\">\n    \t\t\t<div class=\"e-748a323-dd516bd e-svg-base\" data-interaction-id=\"748a323\" data-e-type=\"widget\" data-id=\"748a323\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" fill=\"currentColor\" 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stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M207,207l-35.91,134v-169.91l35.91,35.91Z\"><\/path><path fill=\"rgba(226,215,200,.7)\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M207,135L171.09,1v169.91l35.91-35.9Z\"><\/path><path fill=\"rgba(226,215,200,.7)\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M135.36,207l35.91,134v-169.91l-35.91,35.91Z\"><\/path><\/svg><\/div>\t\t\n<\/div>\n<div class=\"elementor-element elementor-element-d05221a e-con e-atomic-element e-div-block-base e-d05221a-ef19419 \" data-id=\"d05221a\" data-element_type=\"e-div-block\" data-e-type=\"e-div-block\" data-interaction-id=\"d05221a\" data-e-type=\"e-div-block\" data-id=\"d05221a\">\n    \t\t\t<h4 data-interaction-id=\"94a3f96\" class=\"rating-head e-heading-base\" data-e-type=\"widget\" data-id=\"94a3f96\">Johnson &amp; Johnson<\/h4>\n\t\t\t\t<div class=\"elementor-element elementor-element-46c9410 elementor-widget 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data-interaction-id=\"a2e5b6c\" class=\"e-a2e5b6c-f5c6f5c rating-sub e-heading-base\" data-e-type=\"widget\" data-id=\"a2e5b6c\">Analysis Result: 4 out of 5 MUMAKS<\/h4>\n\t\t\n<\/div>\n\n<\/div>\n\t\t<div class=\"elementor-element elementor-element-7cecee3 elementor-widget elementor-widget-text-editor\" data-id=\"7cecee3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h2>Rating<\/h2><p><span data-contrast=\"none\">This analysis evaluates Johnson &#038; Johnson according to the UMBRELLA strategy using the MUMAK method. The evaluation is carried out across five decision phases: Geopolitics, Industry, Fundamentals, Market Sentiment, and Technical Analysis. <\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":0,\"335559739\":216}\"> <\/span><\/p><p><strong>Structure: Classification \u2192 Key Statement \u2192 Rationale \u2192 Conclusion <\/strong><\/p><p><span data-contrast=\"none\">The goal is not to predict the future precisely. The goal is orientation. We contextualize facts, demonstrate causal relationships, and structure a comprehensible decision logic.  <\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":0,\"335559739\":216}\"> <\/span><\/p><p><b><span data-contrast=\"none\">We explain \u2013 you decide.<\/span><\/b><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":0,\"335559739\":216}\"> <\/span><\/p><h3>Geopolitics<\/h3><h4 aria-level=\"2\"><strong>Classification <\/strong><\/h4><p><span data-contrast=\"none\">The geopolitical environment remains fundamentally supportive for Johnson &#038; Johnson. Aging populations, rising healthcare expenditures, an increasing number of cancer cases, and growing demand for modern medical technology create long-term structural growth drivers. <\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":1,\"335551620\":1,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><p><span data-contrast=\"none\">Healthcare is increasingly viewed as critical infrastructure and enjoys high political priority worldwide.<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":1,\"335551620\":1,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><h4 aria-level=\"2\"><b><span data-contrast=\"none\">Key Takeaway<\/span><\/b><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"134245418\":true,\"134245529\":true,\"335551550\":1,\"335551620\":1,\"335559738\":299,\"335559739\":299}\"> <\/span><\/h4><p><span data-contrast=\"none\">Johnson &#038; Johnson benefits from globally rising demand for healthcare services, demographic change, and continuously growing investments in innovative medicines and medical technologies.<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":1,\"335551620\":1,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><h4 aria-level=\"2\"><b><span data-contrast=\"none\">Rationale<\/span><\/b><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"134245418\":true,\"134245529\":true,\"335551550\":1,\"335551620\":1,\"335559738\":299,\"335559739\":299}\"> <\/span><\/h4><h5 aria-level=\"3\"><b><span data-contrast=\"none\">Aging populations ensure long-term demand<\/span><\/b><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"134245418\":true,\"134245529\":true,\"335551550\":1,\"335551620\":1,\"335559738\":281,\"335559739\":281}\"> <\/span><\/h5><p><span data-contrast=\"none\">In developed economies, the proportion of older people is continuously increasing. This leads to growing demand for: <\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":1,\"335551620\":1,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><ul><li><span data-contrast=\"none\">Cancer therapies<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":1,\"335551620\":1,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><li><span data-contrast=\"none\">Cardiovascular treatments<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":1,\"335551620\":1,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><li><span data-contrast=\"none\">Orthopedic procedures<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":1,\"335551620\":1,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><li><span data-contrast=\"none\">Surgical technologies<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":1,\"335551620\":1,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><li><span data-contrast=\"none\">Ophthalmology and vision correction<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":1,\"335551620\":1,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><\/ul><p><span data-contrast=\"none\">Johnson &#038; Johnson is excellently positioned in all these areas.<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":1,\"335551620\":1,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><h5 aria-level=\"3\"><b><span data-contrast=\"none\">Oncology remains a central growth driver<\/span><\/b><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"134245418\":true,\"134245529\":true,\"335551550\":1,\"335551620\":1,\"335559738\":281,\"335559739\":281}\"> <\/span><\/h5><p><span data-contrast=\"none\">Management has set the goal of becoming the world&#8217;s leading oncology company by 2030. Darzalex and Carvykti, in particular, are driving growth in the cancer sector. <\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":1,\"335551620\":1,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><h5 aria-level=\"3\"><b><span data-contrast=\"none\">Healthcare expenditures show high resilience<\/span><\/b><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"134245418\":true,\"134245529\":true,\"335551550\":1,\"335551620\":1,\"335559738\":281,\"335559739\":281}\"> <\/span><\/h5><p><span data-contrast=\"none\">Even in economically challenging times, demand for medical care remains stable. This results in: <\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":1,\"335551620\":1,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><ul><li><span data-contrast=\"none\">Predictable revenues<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":1,\"335551620\":1,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><li><span data-contrast=\"none\">Recurring cash flows<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":1,\"335551620\":1,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><li><span data-contrast=\"none\">Defensive nature of the business model<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":1,\"335551620\":1,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><\/ul><p><span data-contrast=\"none\">Compared to cyclical industries, Johnson &#038; Johnson thus offers significantly higher stability.<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":1,\"335551620\":1,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><h5 aria-level=\"3\"><b><span data-contrast=\"none\">Regulatory risks persist<\/span><\/b><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"134245418\":true,\"134245529\":true,\"335551550\":1,\"335551620\":1,\"335559738\":281,\"335559739\":281}\"> <\/span><\/h5><p><span data-contrast=\"none\">The pharmaceutical industry continues to face challenges:<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":1,\"335551620\":1,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><ul><li><span data-contrast=\"none\">Drug price regulations<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":1,\"335551620\":1,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><li><span data-contrast=\"none\">Reimbursement pressure from healthcare systems<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":1,\"335551620\":1,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><li><span data-contrast=\"none\">Patent expirations<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":1,\"335551620\":1,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><li><span data-contrast=\"none\">Legal risks and litigation<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":1,\"335551620\":1,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><\/ul><p><span data-contrast=\"none\">Therefore, continuous innovation remains crucial for long-term success.<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":1,\"335551620\":1,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><h4 aria-level=\"2\"><b><span data-contrast=\"none\">Conclusion<\/span><\/b><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"134245418\":true,\"134245529\":true,\"335551550\":1,\"335551620\":1,\"335559738\":299,\"335559739\":299}\"> <\/span><\/h4><p><span data-contrast=\"none\">The geopolitical and demographic environment remains very positive in the long term. Aging societies and rising healthcare expenditures will support Johnson &#038; Johnson&#8217;s growth for many years to come. <\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":1,\"335551620\":1,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><p><b><span data-contrast=\"none\">\u2192 MUMAK.me rating Phase 1: positive = 1 MUMAK<\/span><\/b><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":1,\"335551620\":1,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-247c04b e-con e-atomic-element e-div-block-base e-247c04b-4ef77fa \" data-id=\"247c04b\" data-element_type=\"e-div-block\" data-e-type=\"e-div-block\" data-interaction-id=\"247c04b\" data-e-type=\"e-div-block\" data-id=\"247c04b\">\n    <div class=\"elementor-element elementor-element-1e44b73 e-con e-atomic-element e-div-block-base e-1e44b73-5ba3c89 \" data-id=\"1e44b73\" data-element_type=\"e-div-block\" data-e-type=\"e-div-block\" data-interaction-id=\"1e44b73\" data-e-type=\"e-div-block\" data-id=\"1e44b73\">\n    \t\t\t<div class=\"e-6f1b4aa-81e4561 e-svg-base\" data-interaction-id=\"6f1b4aa\" data-e-type=\"widget\" data-id=\"6f1b4aa\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" fill=\"currentColor\" style=\"width: 100%; height: 100%; overflow: unset;\" viewBox=\"0 0 342 342\"><circle fill=\"#f4ecdb\" cx=\"171\" cy=\"171\" r=\"111.86\"><\/circle><path fill=\"none\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M207,135.36l134,35.91h-169.91l35.9-35.91Z\"><\/path><path fill=\"rgba(226,215,200,.7)\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M207,207l134-35.91h-169.91l35.9,35.91Z\"><\/path><path fill=\"none\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M135.36,135L171.26,1v169.91l-35.91-35.9Z\"><\/path><path fill=\"none\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M135,207L1,171.09h169.91l-35.9,35.91Z\"><\/path><path fill=\"rgba(226,215,200,.7)\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M135,135.36L1,171.26h169.91l-35.9-35.91Z\"><\/path><path fill=\"none\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M207,207l-35.91,134v-169.91l35.91,35.91Z\"><\/path><path fill=\"rgba(226,215,200,.7)\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M207,135L171.09,1v169.91l35.91-35.9Z\"><\/path><path fill=\"rgba(226,215,200,.7)\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M135.36,207l35.91,134v-169.91l-35.91,35.91Z\"><\/path><\/svg><\/div>\t\t\n<\/div>\n<div class=\"elementor-element elementor-element-3118ddb e-con e-atomic-element e-div-block-base e-3118ddb-d3c0dd8 \" data-id=\"3118ddb\" data-element_type=\"e-div-block\" data-e-type=\"e-div-block\" data-interaction-id=\"3118ddb\" data-e-type=\"e-div-block\" data-id=\"3118ddb\">\n    \t\t\t<h4 data-interaction-id=\"cb879e1\" class=\"rating-head e-heading-base\" data-e-type=\"widget\" data-id=\"cb879e1\">Johnson &amp; 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height: 100%; overflow: unset;\" id=\"mammut-clean\" data-name=\"mammut-clean\" viewBox=\"0 0 500 500\"><path fill-rule=\"evenodd\" d=\"M388.31,431.19h.02c-1.01-10.05.57-24.06,2.75-30.17-6.36-5.78-12.06-13.16-16.07-18.92-39.95,41.58-101.11,9.25-61.72-17.02,1.66,2.79,5.2,12.21-3.53,16.27,0,0,11.48.74,10.27-21.42,7.24-13.15,17.14-34.65,18.51-59.21-2.21,5.36-5.37,12.79-13.62,18.84,4.31-.24,6.33-.64,6.33-.64-.09.15-3.73,6.58-10.01,12.33,3.63-.99,7.32-3.01,7.32-3.01,0,0-10.87,14.85-26.22,32.09.96-4.88-5.6-8.14-5.6-8.14l-13.5,26.39c.02-.31.93-16.17-5.43-12.5-16.04,9.26-11.03,27.38-11.03,33.27,0,5.17,6.18,15.03,7.92,28.94.11.89-.02,1.87-.61,2.54-1.91,2.16-8.8,5.87-33.51,5.87s-34.94-2.9-38.08-4.79c-1.1-.66-1.69-1.94-1.77-3.22-.41-6.78-.78-13.16,1.02-18.44l1-2.36c4.44-8.69.83-31.19-1.95-34.51-2.21-2.65-14.86,5.18-20.01,8.53-4.49,10.31-9.45,21.93-10.04,23.98-3.27,9.61,11.64,12.45,9.32,23.91-.12.59-.44,1.17-.89,1.57-3.54,3.07-10.56,6.56-26.41,6.98-21.74.58-29.43-2.4-32.07-4.19-.89-.6-1.21-1.8-1-2.85,3.84-19.36,3.91-27.15-14.02-41.23-18.26.36-24.55,5.24-24.44,23.9,2.86,7.24,2.89,16.64,1.9,20.64-1.61,6.53-33.41,8.75-33.41,8.75-26.53,2.15-44.41,3.17-49.16-2.15-.63-.7-.67-1.81-.45-2.72,8.88-35.32,28.13-57.16,44.5-85.72,28.59-58.9,66.13-112.92,118.7-147.43,27.22-20.13,27.44-36.81,46.31-49.01,13.45-8.7,14.78-25.03,18.05-37.91.66-2.58-9.38,2.02-9.38,2.02,0,0,6.92-10.29,8.35-11.96,2.88-3.35,12.41-9.2,15.21-11.3,2.67-2.01-8.42-4.21-8.49-4.22,0,0,18.46-3.11,35.65-2.65,17.74.47,23.86-27.19,54.93-33.85,19.34-5.58,59.53,4.75,66.79,9.55,0,0-21.47.12-18.78.66,6.76,1.34,18.57,3.96,24.78,8.56.57.49-17.3,1.39-16.75,2.3,23.18,42.37,40.52,27.5,28.3,68.26-1.77,6.72-2.18,15.01-1.83,24.16l.12-.43c.02.24,1.8,18.99,10.91,30.32-5.76-.84-10.32-5.4-10.49-5.57.58,2.18,9.22,19.38,11.72,32.15,20.4-19.16,35.65-43.42,40.78-68.96v-.07h.02s-.02.04-.02.04c11.56,37.18-10.26,83.61-37.33,110.33,0,.79-.15,2.06-.33,3.44l.15-.6s69.15,5.92,70.03-111.11c.01.07.02.14.03.21,17.04,59.99,12.74,140.96-74.26,136.62-5.26,21.99-14.23,42.71-22.67,53.98,4.08-3.76,15.69-17.92,19.77-27.54,14.84,25.22,39.07,73.29,48.95,111.92v.03c1.19,10.88-53.45,11.7-68.38,5.3-6.54-2.8-7.15-8.85-7.15-8.85Z\"><\/path><\/svg><\/div>\t\t\n<\/div>\n\t\t\t<h4 data-interaction-id=\"086fea4\" class=\"e-086fea4-1fe6f21 rating-sub e-heading-base\" data-e-type=\"widget\" data-id=\"086fea4\">Geopolitics Rating: positive<\/h4>\n\t\t\n<\/div>\n\n<\/div>\n\t\t<div class=\"elementor-element elementor-element-7538b74 elementor-widget elementor-widget-text-editor\" data-id=\"7538b74\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h3>Industry<\/h3><h4 aria-level=\"2\"><b><span data-contrast=\"none\">Assessment<\/span><\/b><span data-ccp-props=\"{\"134245418\":true,\"134245529\":true,\"335559738\":160,\"335559739\":80}\"> <\/span><\/h4><p><span data-contrast=\"none\">The healthcare industry continues to be one of the most attractive long-term growth sectors worldwide.<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":1,\"335551620\":1,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><p><span data-contrast=\"none\">Demand is particularly supported by the following factors:<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":1,\"335551620\":1,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><ul><li><span data-contrast=\"none\">Aging populations<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":1,\"335551620\":1,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><li><span data-contrast=\"none\">Increase in chronic diseases<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":1,\"335551620\":1,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><li><span data-contrast=\"none\">Advances in biotechnology<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":1,\"335551620\":1,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><li><span data-contrast=\"none\">Growing adoption of modern medical technology<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":1,\"335551620\":1,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><\/ul><h4 aria-level=\"2\"><b><span data-contrast=\"none\">Key Takeaway<\/span><\/b><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"134245418\":true,\"134245529\":true,\"335551550\":1,\"335551620\":1,\"335559738\":299,\"335559739\":299}\"> <\/span><\/h4><p><span data-contrast=\"none\">Johnson &#038; Johnson is active in structurally growing healthcare markets and has exceptionally high visibility into future demand.<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":1,\"335551620\":1,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><h4 aria-level=\"2\"><b><span data-contrast=\"none\">Rationale<\/span><\/b><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"134245418\":true,\"134245529\":true,\"335551550\":1,\"335551620\":1,\"335559738\":299,\"335559739\":299}\"> <\/span><\/h4><h5 aria-level=\"3\"><b><span data-contrast=\"none\">Pharmaceutical innovation as a growth engine<\/span><\/b><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"134245418\":true,\"134245529\":true,\"335551550\":1,\"335551620\":1,\"335559738\":281,\"335559739\":281}\"> <\/span><\/h5><p><span data-contrast=\"none\">The Innovative Medicine division particularly benefits from:<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":1,\"335551620\":1,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><ul><li><span data-contrast=\"none\">Oncology<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":1,\"335551620\":1,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><li><span data-contrast=\"none\">Immunology<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":1,\"335551620\":1,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><li><span data-contrast=\"none\">Neuroscience<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":1,\"335551620\":1,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><li><span data-contrast=\"none\">Cardiovascular medicine<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":1,\"335551620\":1,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><\/ul><p><span data-contrast=\"none\">These areas are among the most dynamic segments of the global healthcare industry.<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":1,\"335551620\":1,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><h5 aria-level=\"3\"><b><span data-contrast=\"none\">MedTech provides additional diversification<\/span><\/b><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"134245418\":true,\"134245529\":true,\"335551550\":1,\"335551620\":1,\"335559738\":281,\"335559739\":281}\"> <\/span><\/h5><p><span data-contrast=\"none\">Unlike many competitors, Johnson &#038; Johnson has a significant medical technology division.<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":1,\"335551620\":1,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><p><span data-contrast=\"none\">Key growth drivers include:<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":1,\"335551620\":1,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><ul><li><span data-contrast=\"none\">Cardiovascular systems<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":1,\"335551620\":1,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><li><span data-contrast=\"none\">Surgical technologies<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":1,\"335551620\":1,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><li><span data-contrast=\"none\">Electrophysiology<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":1,\"335551620\":1,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><li><span data-contrast=\"none\">Ophthalmology products<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":1,\"335551620\":1,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><\/ul><p><span data-contrast=\"none\">The combination of pharma and MedTech represents a significant competitive advantage.<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":1,\"335551620\":1,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><h5 aria-level=\"3\"><b><span data-contrast=\"none\">Strong innovation pipeline<\/span><\/b><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"134245418\":true,\"134245529\":true,\"335551550\":1,\"335551620\":1,\"335559738\":281,\"335559739\":281}\"> <\/span><\/h5><p><span data-contrast=\"none\">The company continuously invests in new therapies and technologies.<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":1,\"335551620\":1,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><p><span data-contrast=\"none\">Key innovation areas include:<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":1,\"335551620\":1,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><ul><li><span data-contrast=\"none\">New cancer treatments<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":1,\"335551620\":1,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><li><span data-contrast=\"none\">Neurological therapies<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":1,\"335551620\":1,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><li><span data-contrast=\"none\">Robotic surgery<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":1,\"335551620\":1,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><li><span data-contrast=\"none\">Cardiovascular innovations<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":1,\"335551620\":1,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><\/ul><p><span data-contrast=\"none\">Management describes the current product pipeline as one of the strongest in the company&#8217;s history.<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":1,\"335551620\":1,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><h5 aria-level=\"3\"><b><span data-contrast=\"none\">Patent expirations as a challenge<\/span><\/b><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"134245418\":true,\"134245529\":true,\"335551550\":1,\"335551620\":1,\"335559738\":281,\"335559739\":281}\"> <\/span><\/h5><p><span data-contrast=\"none\">As with all large pharmaceutical companies, risks arise from the loss of exclusive rights for existing medicines.<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":1,\"335551620\":1,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><p><span data-contrast=\"none\">In particular, the expiration of important patents requires successful new product launches to offset revenue declines.<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":1,\"335551620\":1,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><h4 aria-level=\"2\"><b><span data-contrast=\"none\">Conclusion<\/span><\/b><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"134245418\":true,\"134245529\":true,\"335551550\":1,\"335551620\":1,\"335559738\":299,\"335559739\":299}\"> <\/span><\/h4><p><span data-contrast=\"none\">The healthcare industry remains structurally attractive. Johnson &#038; Johnson benefits from unique diversification between pharma and medical technology and is simultaneously positioned in some of the fastest-growing healthcare segments. <\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":1,\"335551620\":1,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><p><b><span data-contrast=\"none\">\u2192 MUMAK.me Evaluation Phase 2: positive = 1 MUMAK<\/span><\/b><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":1,\"335551620\":1,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-65e8a73 e-con e-atomic-element e-div-block-base e-65e8a73-014d5e9 \" data-id=\"65e8a73\" data-element_type=\"e-div-block\" data-e-type=\"e-div-block\" data-interaction-id=\"65e8a73\" data-e-type=\"e-div-block\" data-id=\"65e8a73\">\n    <div class=\"elementor-element elementor-element-f7619be e-con e-atomic-element e-div-block-base e-f7619be-23722f2 \" data-id=\"f7619be\" data-element_type=\"e-div-block\" data-e-type=\"e-div-block\" data-interaction-id=\"f7619be\" data-e-type=\"e-div-block\" data-id=\"f7619be\">\n    \t\t\t<div class=\"e-5467c68-db40dfd e-svg-base\" data-interaction-id=\"5467c68\" data-e-type=\"widget\" data-id=\"5467c68\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" fill=\"currentColor\" style=\"width: 100%; 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font-size: 2rem;\">Fundamentals<\/span><\/h3>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<a href=\"https:\/\/mumak.me\/wp-content\/uploads\/2026\/06\/JNJ-Financial-Data.png\" target=\"_self\" class=\"e-image-link-base\" data-interaction-id=\"00aceda\"\n\t><img fetchpriority=\"high\" decoding=\"async\" class=\"e-image-base \" data-e-type=\"widget\" data-id=\"00aceda\" id=\"4121\" src=\"https:\/\/mumak.me\/wp-content\/uploads\/2026\/06\/JNJ-Financial-Data.png\" width=\"1920\" height=\"1080\" srcset=\"https:\/\/mumak.me\/wp-content\/uploads\/2026\/06\/JNJ-Financial-Data.png 1920w, https:\/\/mumak.me\/wp-content\/uploads\/2026\/06\/JNJ-Financial-Data-300x169.png 300w, https:\/\/mumak.me\/wp-content\/uploads\/2026\/06\/JNJ-Financial-Data-1024x576.png 1024w, https:\/\/mumak.me\/wp-content\/uploads\/2026\/06\/JNJ-Financial-Data-768x432.png 768w, https:\/\/mumak.me\/wp-content\/uploads\/2026\/06\/JNJ-Financial-Data-1536x864.png 1536w\" alt=\"JNJ Financial Data\"\/>\t<\/a>\t\t\t\t<div class=\"elementor-element elementor-element-6daebec elementor-widget elementor-widget-text-editor\" data-id=\"6daebec\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h4 aria-level=\"2\"><b><span data-contrast=\"none\">Assessment<\/span><\/b><span data-ccp-props=\"{\"134245418\":true,\"134245529\":true,\"335559738\":160,\"335559739\":80}\"> <\/span><\/h4><p><span data-contrast=\"none\">Johnson &#038; Johnson continues to exhibit the characteristics of a high-quality, defensive growth company. The company combines stable revenue growth, high profitability, strong cash flow generation, and a conservative balance sheet structure. <\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><p><span data-contrast=\"none\">For fiscal year 2026, <strong>revenue<\/strong> is expected to be <strong>around $100.9 billion<\/strong>, compared to <strong>$94.2 billion<\/strong> in 2025. This represents growth of approximately 7.1%. <strong>EBITDA<\/strong> is projected to increase from <strong>$33.3 billion<\/strong> to <strong>$37.1 billion<\/strong>, while the <strong>EBIT margin<\/strong> is expected to improve from <strong>32.2%<\/strong> to <strong>33.3%<\/strong>.  <\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><p><span data-contrast=\"none\">Growth is primarily driven by the pharmaceutical portfolio, the medical technology business, and the continuous innovation pipeline.<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><h4 aria-level=\"2\"><b><span data-contrast=\"none\">Key Takeaway<\/span><\/b><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"134245418\":true,\"134245529\":true,\"335559738\":299,\"335559739\":299}\"> <\/span><\/h4><p><span class=\"TextRun SCXW115278548 BCX4\" lang=\"DE-AT\" xml:lang=\"DE-AT\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW115278548 BCX4\">Johnson &#038; Johnson possesses strong and resilient fundamentals. Stable growth, high profitability, excellent cash flow generation, and a conservative balance sheet make the company one of the highest-quality healthcare corporations worldwide. <\/span><\/span><span class=\"EOP SCXW115278548 BCX4\" data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><h4 aria-level=\"2\"><b><span data-contrast=\"none\">Rationale<\/span><\/b><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"134245418\":true,\"134245529\":true,\"335559738\":299,\"335559739\":299}\"> <\/span><\/h4><h5 aria-level=\"3\"><span class=\"TextRun SCXW248583261 BCX4\" lang=\"DE-AT\" xml:lang=\"DE-AT\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW248583261 BCX4\" data-ccp-parastyle=\"heading 2\">Revenue growth remains stable<\/span><\/span><span class=\"EOP SCXW248583261 BCX4\" data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"134245418\":true,\"134245529\":true,\"335559738\":299,\"335559739\":299}\"> <\/span><\/h5>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-579aa8a elementor-widget elementor-widget-Table\" data-id=\"579aa8a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"Table.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<table class=\"tafe-table \">\n\t\t\t<thead  class=\"tafe-table-header\">\n\t\t\t\t<tr>\n\t\t\t\t\t<th class=\"elementor-inline-editing elementor-repeater-item-3f3f2e0\"   >Key Figure<\/th><th class=\"elementor-inline-editing elementor-repeater-item-f44885d\"   >Latest Result<\/th>\t\t\t\t<\/tr>\n\t\t\t<\/thead>\n\t\t\t\t\t\t<tbody class=\"tafe-table-body\">\n\t\t\t\t<tr>\n\t\t\t\t\t<\/tr><tr><td data-label=\"Key Figure\"   class=\"elementor-repeater-item-e050aa7 td-content-type-default\" ><b>Revenue Q1 2026<\/b><\/td><td data-label=\"Latest Result\"   class=\"elementor-repeater-item-da32a54 td-content-type-default\" >$24.06 billion\n<\/td><\/tr><tr><td data-label=\"Key Figure\"   class=\"elementor-repeater-item-d27b099 td-content-type-default\" ><b>YoY revenue growth<\/b><\/td><td data-label=\"Latest Result\"   class=\"elementor-repeater-item-08a1df6 td-content-type-default\" >approx. +6%\n<\/td><\/tr><tr><td data-label=\"Key Figure\"   class=\"elementor-repeater-item-e014835 td-content-type-default\" ><b>Forecast for fiscal year 2026 <\/b><\/td><td data-label=\"Latest Result\"   class=\"elementor-repeater-item-96a1917 td-content-type-default\" >+3% to +4% organic growth\n<\/td><\/tr><tr><td data-label=\"Key Figure\"   class=\"elementor-repeater-item-2c18166 td-content-type-default\" ><b>Main Growth Drivers<\/b><\/td><td data-label=\"Latest Result\"   class=\"elementor-repeater-item-d036ffc td-content-type-default\" >Innovative Medicine, Oncology, Immunology, Medical Technology <\/td>\t\t\t\t<\/tr>\n\t\t\t<\/tbody>\n\t\t<\/table>\n\t\t\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7013132 elementor-widget elementor-widget-text-editor\" data-id=\"7013132\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><span data-contrast=\"none\">Revenue growth continues to be stable. In the first quarter of 2026, Johnson &#038; Johnson achieved revenues of approximately $24.06 billion, representing an increase of about 6% compared to the previous year. <\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><p><span data-contrast=\"none\">Market analysts expect the group&#8217;s revenue to rise to over $107 billion by fiscal year 2027.<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><h5><b><span data-contrast=\"none\">Profitability remains exceptionally high<\/span><\/b><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"134245418\":true,\"134245529\":true,\"335559738\":299,\"335559739\":299}\"> <\/span><\/h5>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1f400d4 elementor-widget elementor-widget-Table\" data-id=\"1f400d4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"Table.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<table class=\"tafe-table \">\n\t\t\t<thead  class=\"tafe-table-header\">\n\t\t\t\t<tr>\n\t\t\t\t\t<th class=\"elementor-inline-editing elementor-repeater-item-3f3f2e0\"   >Key Figure<\/th><th class=\"elementor-inline-editing elementor-repeater-item-db540a3\"   >FY2024<\/th><th class=\"elementor-inline-editing elementor-repeater-item-42a9060\"   >FY2025<\/th>\t\t\t\t<\/tr>\n\t\t\t<\/thead>\n\t\t\t\t\t\t<tbody class=\"tafe-table-body\">\n\t\t\t\t<tr>\n\t\t\t\t\t<td data-label=\"Key Figure\"   class=\"elementor-repeater-item-24f6e54 td-content-type-default\" ><b>EBIT Margin<\/b><\/td><td data-label=\"FY2024\"   class=\"elementor-repeater-item-08a1df6 td-content-type-default\" >25,5%\n<\/td><td data-label=\"FY2025\"   class=\"elementor-repeater-item-f284af4 td-content-type-default\" >28,0%\n<\/td><\/tr><tr><td data-label=\"Key Figure\"   class=\"elementor-repeater-item-e050aa7 td-content-type-default\" ><b>Net Margin<\/b><\/td><td data-label=\"FY2024\"   class=\"elementor-repeater-item-da32a54 td-content-type-default\" >15,8%\n<\/td><td data-label=\"FY2025\"   class=\"elementor-repeater-item-ac439d7 td-content-type-default\" >28,5%\n<\/td><\/tr><tr><td data-label=\"Key Figure\"   class=\"elementor-repeater-item-b23e49e td-content-type-default\" ><b>EBITDA Margin<\/b><\/td><td data-label=\"FY2024\"   class=\"elementor-repeater-item-cfa6d66 td-content-type-default\" >33,8%\n<\/td><td data-label=\"FY2025\"   class=\"elementor-repeater-item-c9daf92 td-content-type-default\" >35,9%\n<\/td>\t\t\t\t<\/tr>\n\t\t\t<\/tbody>\n\t\t<\/table>\n\t\t\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f49d960 elementor-widget elementor-widget-text-editor\" data-id=\"f49d960\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><span data-contrast=\"none\">Johnson &#038; Johnson continues to be one of the most profitable companies in the global healthcare sector.<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><p><span data-contrast=\"none\">EBITDA growth of more than 11% is expected for fiscal year 2026. At the same time, margins continue their positive trend. This underscores the company&#8217;s strong market position, high pricing power, and operational efficiency.  <\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><h5><b><span data-contrast=\"none\">Cash flow generation remains excellent<\/span><\/b><\/h5>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e18ee76 elementor-widget elementor-widget-Table\" data-id=\"e18ee76\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"Table.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<table class=\"tafe-table \">\n\t\t\t<thead  class=\"tafe-table-header\">\n\t\t\t\t<tr>\n\t\t\t\t\t<th class=\"elementor-inline-editing elementor-repeater-item-3f3f2e0\"   >Key Figure<\/th><th class=\"elementor-inline-editing elementor-repeater-item-f44885d\"   >Value<\/th>\t\t\t\t<\/tr>\n\t\t\t<\/thead>\n\t\t\t\t\t\t<tbody class=\"tafe-table-body\">\n\t\t\t\t<tr>\n\t\t\t\t\t<td data-label=\"Key Figure\"   class=\"elementor-repeater-item-24f6e54 td-content-type-default\" ><b>Free Cash Flow FY\u201925<\/b><\/td><td data-label=\"Value\"   class=\"elementor-repeater-item-08a1df6 td-content-type-default\" >$17.2 billion \n<\/td><\/tr><tr><td data-label=\"Key Figure\"   class=\"elementor-repeater-item-e050aa7 td-content-type-default\" ><b>FCF growth YoY<\/b><\/td><td data-label=\"Value\"   class=\"elementor-repeater-item-da32a54 td-content-type-default\" >+7,2 % \n<\/td><\/tr><tr><td data-label=\"Key Figure\"   class=\"elementor-repeater-item-d912bc9 td-content-type-default\" ><b>FCF Margin FY'25<\/b><\/td><td data-label=\"Value\"   class=\"elementor-repeater-item-af222e2 td-content-type-default\" >22,6 %\n<\/td><\/tr><tr><td data-label=\"Key Figure\"   class=\"elementor-repeater-item-39b7629 td-content-type-default\" ><b>Operating Cash Flow FY'25<\/b><\/td><td data-label=\"Value\"   class=\"elementor-repeater-item-5635b8a td-content-type-default\" >$24.5 billion<\/td>\t\t\t\t<\/tr>\n\t\t\t<\/tbody>\n\t\t<\/table>\n\t\t\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9c6f221 elementor-widget elementor-widget-text-editor\" data-id=\"9c6f221\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><span data-contrast=\"none\">Johnson &#038; Johnson continues to generate exceptionally strong cash flows.<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><p><span data-contrast=\"none\">The high quality of cash flow enables the company to continuously increase dividends, undertake strategic acquisitions, and simultaneously finance extensive investments in research and development.<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><h5 aria-level=\"2\"><b><span data-contrast=\"none\">Balance sheet remains extremely solid<\/span><\/b><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"134245418\":true,\"134245529\":true,\"335559738\":299,\"335559739\":299}\"> <\/span><\/h5>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-46f5507 elementor-widget elementor-widget-Table\" data-id=\"46f5507\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"Table.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<table class=\"tafe-table \">\n\t\t\t<thead  class=\"tafe-table-header\">\n\t\t\t\t<tr>\n\t\t\t\t\t<th class=\"elementor-inline-editing elementor-repeater-item-3f3f2e0\"   >Key Figure<\/th><th class=\"elementor-inline-editing elementor-repeater-item-c1fa5b4\"   >Latest Result<\/th>\t\t\t\t<\/tr>\n\t\t\t<\/thead>\n\t\t\t\t\t\t<tbody class=\"tafe-table-body\">\n\t\t\t\t<tr>\n\t\t\t\t\t<td data-label=\"Key Figure\"   class=\"elementor-repeater-item-24f6e54 td-content-type-default\" ><b>Cash and cash equivalents<\/b><\/td><td data-label=\"Latest Result\"   class=\"elementor-repeater-item-08a1df6 td-content-type-default\" >$19.7 billion<\/td><\/tr><tr><td data-label=\"Key Figure\"   class=\"elementor-repeater-item-e050aa7 td-content-type-default\" ><b>Total Debt<\/b><\/td><td data-label=\"Latest Result\"   class=\"elementor-repeater-item-da32a54 td-content-type-default\" >$49.3 billion<\/td><\/tr><tr><td data-label=\"Key Figure\"   class=\"elementor-repeater-item-216e3cc td-content-type-default\" ><b>Net Debt<\/b><\/td><td data-label=\"Latest Result\"   class=\"elementor-repeater-item-728d171 td-content-type-default\" >$29.2 billion\n<\/td><\/tr><tr><td data-label=\"Key Figure\"   class=\"elementor-repeater-item-f1f657a td-content-type-default\" ><b>Net Debt \/ EBITDA<\/b><\/td><td data-label=\"Latest Result\"   class=\"elementor-repeater-item-5542548 td-content-type-default\" >0.9x\n<\/td><\/tr><tr><td data-label=\"Key Figure\"   class=\"elementor-repeater-item-2ef1f2a td-content-type-default\" ><b>Current Ratio<\/b><\/td><td data-label=\"Latest Result\"   class=\"elementor-repeater-item-0ceee0a td-content-type-default\" >1.2x<\/td>\t\t\t\t<\/tr>\n\t\t\t<\/tbody>\n\t\t<\/table>\n\t\t\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d7e4c53 elementor-widget elementor-widget-text-editor\" data-id=\"d7e4c53\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><span data-contrast=\"none\">Johnson &#038; Johnson has one of the strongest balance sheets in the healthcare sector and continues to be one of the most creditworthy companies worldwide.<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><p><span data-contrast=\"none\">The solid financial position provides the group with significant financial flexibility to fund future growth initiatives, acquisitions, and investments in new therapies and medical technologies.<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><h5><span class=\"TextRun SCXW37726756 BCX4\" lang=\"DE-AT\" xml:lang=\"DE-AT\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW37726756 BCX4\" data-ccp-parastyle=\"heading 2\">Capital allocation remains shareholder-friendly<\/span><\/span><span class=\"EOP SCXW37726756 BCX4\" data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"134245418\":true,\"134245529\":true,\"335559738\":299,\"335559739\":299}\"> <\/span><\/h5>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-84aab53 elementor-widget elementor-widget-Table\" data-id=\"84aab53\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"Table.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<table class=\"tafe-table \">\n\t\t\t<thead  class=\"tafe-table-header\">\n\t\t\t\t<tr>\n\t\t\t\t\t<th class=\"elementor-inline-editing elementor-repeater-item-3f3f2e0\"   >Key Figure<\/th><th class=\"elementor-inline-editing elementor-repeater-item-f44885d\"   >Current Result<\/th>\t\t\t\t<\/tr>\n\t\t\t<\/thead>\n\t\t\t\t\t\t<tbody class=\"tafe-table-body\">\n\t\t\t\t<tr>\n\t\t\t\t\t<td data-label=\"Key Figure\"   class=\"elementor-repeater-item-24f6e54 td-content-type-default\" ><b>Annual dividend per share <\/b><\/td><td data-label=\"Current Result\"   class=\"elementor-repeater-item-08a1df6 td-content-type-default\" >$5.20<\/td><\/tr><tr><td data-label=\"Key Figure\"   class=\"elementor-repeater-item-e050aa7 td-content-type-default\" ><b>Dividend Yield<\/b><\/td><td data-label=\"Current Result\"   class=\"elementor-repeater-item-da32a54 td-content-type-default\" >approx. 3.2% <\/td><\/tr><tr><td data-label=\"Key Figure\"   class=\"elementor-repeater-item-ee8c1df td-content-type-default\" ><b>Earnings per share FY2025 <\/b><\/td><td data-label=\"Current Result\"   class=\"elementor-repeater-item-cfa6d66 td-content-type-default\" >$11.03\n<\/td><\/tr><tr><td data-label=\"Key Figure\"   class=\"elementor-repeater-item-700b131 td-content-type-default\" ><b>EPS growth FY2025 <\/b><\/td><td data-label=\"Current Result\"   class=\"elementor-repeater-item-aa2a471 td-content-type-default\" >+90,5 %\n<\/td>\t\t\t\t<\/tr>\n\t\t\t<\/tbody>\n\t\t<\/table>\n\t\t\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b54fd2c elementor-widget elementor-widget-text-editor\" data-id=\"b54fd2c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h5><b><span data-contrast=\"none\">Dividend Aristocrat<\/span><\/b><span data-ccp-props=\"{}\"> <\/span><\/h5><p><span data-contrast=\"none\">Johnson &#038; Johnson belongs to an exclusive group of companies that have increased their dividend for more than six decades without interruption.<\/span><span data-ccp-props=\"{}\"> <\/span><\/p><p><span data-contrast=\"none\">Strengths for income investors:<\/span><\/p><ul><li><span data-contrast=\"none\">Over 60 years of continuous dividend increases<\/span><span data-ccp-props=\"{}\"> <\/span><\/li><li><span data-contrast=\"none\">Dividend comfortably covered by free cash flow<\/span><span data-ccp-props=\"{}\"> <\/span><\/li><li><span data-contrast=\"none\">Attractive yield combined with a defensive healthcare business<\/span><span data-ccp-props=\"{}\"> <\/span><\/li><li><span data-contrast=\"none\">Combination of current income, stability, and long-term wealth accumulation<\/span> <span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"134245418\":true,\"134245529\":true,\"335551550\":1,\"335551620\":1,\"335559738\":299,\"335559739\":299}\"> <\/span><\/li><\/ul><h4 aria-level=\"2\"><b><span data-contrast=\"none\">Conclusion<\/span><\/b><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"134245418\":true,\"134245529\":true,\"335551550\":1,\"335551620\":1,\"335559738\":299,\"335559739\":299}\"> <\/span><\/h4><p><span data-contrast=\"none\">Johnson &#038; Johnson&#8217;s fundamentals remain strong.<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><p><span data-contrast=\"none\">The company continues to show solid and continuous revenue growth, while profitability is among the highest within the global healthcare industry. At the same time, strong cash flow generation and high financial stability provide significant strategic flexibility. <\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><p><span data-contrast=\"none\">While litigation, regulatory risks, and expiring patents remain important factors that investors should monitor, the overall quality of the business model is not significantly affected. <\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><p><span data-contrast=\"none\">Thanks to its strong market position, broad diversification, innovative product pipeline, and conservative financial policy, Johnson &#038; Johnson remains one of the highest-quality companies in the global healthcare sector.<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><p><b><span data-contrast=\"none\">\u2192 MUMAK.me Rating Phase 3: positive = 1 MUMAK <\/span><\/b><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335551550\":1,\"335551620\":1,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-dd49fda e-con e-atomic-element e-div-block-base e-dd49fda-d86ffc1 \" data-id=\"dd49fda\" data-element_type=\"e-div-block\" data-e-type=\"e-div-block\" data-interaction-id=\"dd49fda\" data-e-type=\"e-div-block\" data-id=\"dd49fda\">\n    <div class=\"elementor-element elementor-element-0f86229 e-con e-atomic-element e-div-block-base e-0f86229-1b023f1 \" data-id=\"0f86229\" data-element_type=\"e-div-block\" data-e-type=\"e-div-block\" data-interaction-id=\"0f86229\" data-e-type=\"e-div-block\" data-id=\"0f86229\">\n    \t\t\t<div class=\"e-b8bc0af-3fb15aa e-svg-base\" data-interaction-id=\"b8bc0af\" data-e-type=\"widget\" data-id=\"b8bc0af\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" fill=\"currentColor\" style=\"width: 100%; 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Johnson currently benefits from positive market perception. This is supported by its defensive business model, strong balance sheet, diversified healthcare portfolio, and robust drug pipeline. <\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><p><span data-contrast=\"none\">At the same time, patent expirations and ongoing legal proceedings remain important risk factors.<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><h4 aria-level=\"2\"><b><span data-contrast=\"none\">Key Takeaway<\/span><\/b><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"134245418\":true,\"134245529\":true,\"335559738\":299,\"335559739\":299}\"> <\/span><\/h4><p><span data-contrast=\"none\">Market sentiment remains positive. However, future price development increasingly depends on whether new products can deliver the expected growth contributions. <\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><h4 aria-level=\"2\"><b><span data-contrast=\"none\">Rationale<\/span><\/b><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"134245418\":true,\"134245529\":true,\"335551550\":0,\"335551620\":0,\"335559738\":299,\"335559739\":299}\"> <\/span><\/h4><h5 aria-level=\"3\"><span class=\"TextRun SCXW204007683 BCX4\" lang=\"DE-AT\" xml:lang=\"DE-AT\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW204007683 BCX4\" data-ccp-parastyle=\"heading 3\">Analysts remain optimistic<\/span><\/span><span class=\"EOP SCXW204007683 BCX4\" data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"134245418\":true,\"134245529\":true,\"335559738\":281,\"335559739\":281}\"> <\/span><\/h5>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3193062 elementor-widget elementor-widget-Table\" data-id=\"3193062\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"Table.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<table class=\"tafe-table \">\n\t\t\t<thead  class=\"tafe-table-header\">\n\t\t\t\t<tr>\n\t\t\t\t\t<th class=\"elementor-inline-editing elementor-repeater-item-3f3f2e0\"   ><\/th>\t\t\t\t<\/tr>\n\t\t\t<\/thead>\n\t\t\t\t\t\t<tbody class=\"tafe-table-body\">\n\t\t\t\t<tr>\n\t\t\t\t\t<td data-label=\"\"   class=\"elementor-repeater-item-24f6e54 td-content-type-default\" ><b>Number of Analysts<\/b><\/td><td data-label=\"\"   class=\"elementor-repeater-item-08a1df6 td-content-type-default\" >24\n<\/td><\/tr><tr><td data-label=\"\"   class=\"elementor-repeater-item-e050aa7 td-content-type-default\" ><b>Average Price Target<\/b><\/td><td data-label=\"\"   class=\"elementor-repeater-item-35f1c12 td-content-type-default\" >~$252\n<\/td><\/tr><tr><td data-label=\"\"   class=\"elementor-repeater-item-e9b18d8 td-content-type-default\" ><b>Upside to Average Target<\/b><\/td><td data-label=\"\"   class=\"elementor-repeater-item-19a0849 td-content-type-default\" >+8,6 %<\/td><\/tr><tr><td data-label=\"\"   class=\"elementor-repeater-item-91165f8 td-content-type-default\" ><b>Upper Target<\/b><\/td><td data-label=\"\"   class=\"elementor-repeater-item-8833fb8 td-content-type-default\" >~$285\n<\/td><\/tr><tr><td data-label=\"\"   class=\"elementor-repeater-item-85848b8 td-content-type-default\" ><b>Lower Target<\/b><\/td><td data-label=\"\"   class=\"elementor-repeater-item-da32a54 td-content-type-default\" > ~$155\n<\/td>\t\t\t\t<\/tr>\n\t\t\t<\/tbody>\n\t\t<\/table>\n\t\t\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a62d68a elementor-widget elementor-widget-text-editor\" data-id=\"a62d68a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h5>Detailed Distribution<\/h5>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b15acbe elementor-widget elementor-widget-Table\" data-id=\"b15acbe\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"Table.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<table class=\"tafe-table \">\n\t\t\t<thead  class=\"tafe-table-header\">\n\t\t\t\t<tr>\n\t\t\t\t\t<th class=\"elementor-inline-editing elementor-repeater-item-3f3f2e0\"   >Revenue and Profit<\/th>\t\t\t\t<\/tr>\n\t\t\t<\/thead>\n\t\t\t\t\t\t<tbody class=\"tafe-table-body\">\n\t\t\t\t<tr>\n\t\t\t\t\t<td data-label=\"Revenue and Profit\"   class=\"elementor-repeater-item-24f6e54 td-content-type-default\" ><b>Buy<\/b><\/td><td data-label=\"\"   class=\"elementor-repeater-item-08a1df6 td-content-type-default\" >10<\/td><\/tr><tr><td data-label=\"Revenue and Profit\"   class=\"elementor-repeater-item-e050aa7 td-content-type-default\" ><b>Accumulate <\/b><\/td><td data-label=\"\"   class=\"elementor-repeater-item-19a0849 td-content-type-default\" >5<\/td><\/tr><tr><td data-label=\"Revenue and Profit\"   class=\"elementor-repeater-item-4a26f9a td-content-type-default\" ><b>Hold<\/b><\/td><td data-label=\"\"   class=\"elementor-repeater-item-815f271 td-content-type-default\" >8<\/td><\/tr><tr><td data-label=\"Revenue and Profit\"   class=\"elementor-repeater-item-91165f8 td-content-type-default\" ><b>Reduce<\/b><\/td><td data-label=\"\"   class=\"elementor-repeater-item-8833fb8 td-content-type-default\" >1\n<\/td><\/tr><tr><td data-label=\"Revenue and Profit\"   class=\"elementor-repeater-item-85848b8 td-content-type-default\" ><b>Sell<\/b><\/td><td data-label=\"\"   class=\"elementor-repeater-item-da32a54 td-content-type-default\" >0\n<\/td>\t\t\t\t<\/tr>\n\t\t\t<\/tbody>\n\t\t<\/table>\n\t\t\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6d8310e elementor-widget elementor-widget-text-editor\" data-id=\"6d8310e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><span data-contrast=\"none\">The majority of analysts continue to rate the stock positively.<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><p><span data-contrast=\"none\">The main reasons for this are:<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><ul><li><span data-contrast=\"none\">Strong market position<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><li><span data-contrast=\"none\">High balance sheet quality<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><li><span data-contrast=\"none\">Solid dividend growth<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><li><span data-contrast=\"none\">Attractive product pipeline<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><\/ul><p><span data-contrast=\"none\">The analyst consensus still indicates moderate price potential.<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><h5 aria-level=\"3\"><b><span data-contrast=\"none\">Product pipeline supports future growth<\/span><\/b><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"134245418\":true,\"134245529\":true,\"335559738\":281,\"335559739\":281}\"> <\/span><\/h5><p><span data-contrast=\"none\">Particular attention is paid to the products:<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><ul><li><span data-contrast=\"none\">Darzalex<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><li><span data-contrast=\"none\">Carvykti<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><li><span data-contrast=\"none\">Tremfya<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><li><span data-contrast=\"none\">Tecvayli<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><li><span data-contrast=\"none\">Talvey<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><\/ul><p><span data-contrast=\"none\">These medicines are expected to make a significant contribution to revenue growth in the future and compensate for expiring patent revenues.<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><h5 aria-level=\"3\"><b><span data-contrast=\"none\">Legal risks remain significant<\/span><\/b><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"134245418\":true,\"134245529\":true,\"335559738\":281,\"335559739\":281}\"> <\/span><\/h5><p><span data-contrast=\"none\">The talcum powder lawsuits continue to represent the most significant uncertainty factor.<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><p><span data-contrast=\"none\">Although Johnson &#038; Johnson has sufficient financial resources, legal developments can influence valuation and market sentiment in the short term.<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><h5 aria-level=\"3\"><b><span data-contrast=\"none\">Defensive characteristics remain in demand<\/span><\/b><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"134245418\":true,\"134245529\":true,\"335559738\":281,\"335559739\":281}\"> <\/span><\/h5><p><span data-contrast=\"none\">During economically uncertain periods, investors prefer companies with:<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><ul><li><span data-contrast=\"none\">Stable earnings<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><li><span data-contrast=\"none\">Solid balance sheets<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><li><span data-contrast=\"none\">Predictable cash flows<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><li><span data-contrast=\"none\">Reliable dividend growth<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><\/ul><p><span data-contrast=\"none\">Johnson &#038; Johnson meets all these criteria and therefore remains a core position for many institutional investors.<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><h4 aria-level=\"2\"><b><span data-contrast=\"none\">Conclusion<\/span><\/b><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"134245418\":true,\"134245529\":true,\"335559738\":299,\"335559739\":299}\"> <\/span><\/h4><p><span data-contrast=\"none\">Overall, market sentiment towards Johnson &#038; Johnson remains positive. Analysts continue to expect moderate upside potential. In the long term, the successful implementation of the pharmaceutical pipeline, growth in the MedTech sector, and the handling of legal risks will be decisive for further development.  <\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><p><b><span data-contrast=\"none\">\u2192 MUMAK.me Evaluation Phase 4: positive = 1 MUMAK<\/span><\/b><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-5dfd83f e-con e-atomic-element e-div-block-base e-5dfd83f-f4506c6 \" data-id=\"5dfd83f\" data-element_type=\"e-div-block\" data-e-type=\"e-div-block\" data-interaction-id=\"5dfd83f\" data-e-type=\"e-div-block\" data-id=\"5dfd83f\">\n    <div class=\"elementor-element elementor-element-70ad632 e-con e-atomic-element e-div-block-base e-70ad632-238b44d \" data-id=\"70ad632\" data-element_type=\"e-div-block\" data-e-type=\"e-div-block\" data-interaction-id=\"70ad632\" data-e-type=\"e-div-block\" data-id=\"70ad632\">\n    \t\t\t<div class=\"e-b4b5b73-f8e43b2 e-svg-base\" data-interaction-id=\"b4b5b73\" data-e-type=\"widget\" data-id=\"b4b5b73\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" fill=\"currentColor\" style=\"width: 100%; height: 100%; overflow: unset;\" viewBox=\"0 0 342 342\"><circle fill=\"#f4ecdb\" cx=\"171\" cy=\"171\" r=\"111.86\"><\/circle><path fill=\"none\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M207,135.36l134,35.91h-169.91l35.9-35.91Z\"><\/path><path fill=\"rgba(226,215,200,.7)\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M207,207l134-35.91h-169.91l35.9,35.91Z\"><\/path><path fill=\"none\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M135.36,135L171.26,1v169.91l-35.91-35.9Z\"><\/path><path fill=\"none\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M135,207L1,171.09h169.91l-35.9,35.91Z\"><\/path><path fill=\"rgba(226,215,200,.7)\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M135,135.36L1,171.26h169.91l-35.9-35.91Z\"><\/path><path fill=\"none\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M207,207l-35.91,134v-169.91l35.91,35.91Z\"><\/path><path fill=\"rgba(226,215,200,.7)\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M207,135L171.09,1v169.91l35.91-35.9Z\"><\/path><path fill=\"rgba(226,215,200,.7)\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M135.36,207l35.91,134v-169.91l-35.91,35.91Z\"><\/path><\/svg><\/div>\t\t\n<\/div>\n<div class=\"elementor-element elementor-element-32f5755 e-con e-atomic-element e-div-block-base e-32f5755-4840af2 \" data-id=\"32f5755\" data-element_type=\"e-div-block\" data-e-type=\"e-div-block\" data-interaction-id=\"32f5755\" data-e-type=\"e-div-block\" data-id=\"32f5755\">\n    \t\t\t<h4 data-interaction-id=\"2aaa30e\" class=\"rating-head e-heading-base\" data-e-type=\"widget\" data-id=\"2aaa30e\">Johnson &amp; Johnson<\/h4>\n\t\t<div class=\"elementor-element elementor-element-d31247b e-con e-atomic-element e-div-block-base e-d31247b-3b98f0d \" data-id=\"d31247b\" data-element_type=\"e-div-block\" data-e-type=\"e-div-block\" data-interaction-id=\"d31247b\" data-e-type=\"e-div-block\" data-id=\"d31247b\">\n    \t\t\t<div class=\"e-4fb282b-e64d914 e-svg-base\" data-interaction-id=\"4fb282b\" data-e-type=\"widget\" data-id=\"4fb282b\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" fill=\"currentColor\" style=\"width: 100%; height: 100%; overflow: unset;\" id=\"mammut-clean\" data-name=\"mammut-clean\" viewBox=\"0 0 500 500\"><path fill-rule=\"evenodd\" d=\"M388.31,431.19h.02c-1.01-10.05.57-24.06,2.75-30.17-6.36-5.78-12.06-13.16-16.07-18.92-39.95,41.58-101.11,9.25-61.72-17.02,1.66,2.79,5.2,12.21-3.53,16.27,0,0,11.48.74,10.27-21.42,7.24-13.15,17.14-34.65,18.51-59.21-2.21,5.36-5.37,12.79-13.62,18.84,4.31-.24,6.33-.64,6.33-.64-.09.15-3.73,6.58-10.01,12.33,3.63-.99,7.32-3.01,7.32-3.01,0,0-10.87,14.85-26.22,32.09.96-4.88-5.6-8.14-5.6-8.14l-13.5,26.39c.02-.31.93-16.17-5.43-12.5-16.04,9.26-11.03,27.38-11.03,33.27,0,5.17,6.18,15.03,7.92,28.94.11.89-.02,1.87-.61,2.54-1.91,2.16-8.8,5.87-33.51,5.87s-34.94-2.9-38.08-4.79c-1.1-.66-1.69-1.94-1.77-3.22-.41-6.78-.78-13.16,1.02-18.44l1-2.36c4.44-8.69.83-31.19-1.95-34.51-2.21-2.65-14.86,5.18-20.01,8.53-4.49,10.31-9.45,21.93-10.04,23.98-3.27,9.61,11.64,12.45,9.32,23.91-.12.59-.44,1.17-.89,1.57-3.54,3.07-10.56,6.56-26.41,6.98-21.74.58-29.43-2.4-32.07-4.19-.89-.6-1.21-1.8-1-2.85,3.84-19.36,3.91-27.15-14.02-41.23-18.26.36-24.55,5.24-24.44,23.9,2.86,7.24,2.89,16.64,1.9,20.64-1.61,6.53-33.41,8.75-33.41,8.75-26.53,2.15-44.41,3.17-49.16-2.15-.63-.7-.67-1.81-.45-2.72,8.88-35.32,28.13-57.16,44.5-85.72,28.59-58.9,66.13-112.92,118.7-147.43,27.22-20.13,27.44-36.81,46.31-49.01,13.45-8.7,14.78-25.03,18.05-37.91.66-2.58-9.38,2.02-9.38,2.02,0,0,6.92-10.29,8.35-11.96,2.88-3.35,12.41-9.2,15.21-11.3,2.67-2.01-8.42-4.21-8.49-4.22,0,0,18.46-3.11,35.65-2.65,17.74.47,23.86-27.19,54.93-33.85,19.34-5.58,59.53,4.75,66.79,9.55,0,0-21.47.12-18.78.66,6.76,1.34,18.57,3.96,24.78,8.56.57.49-17.3,1.39-16.75,2.3,23.18,42.37,40.52,27.5,28.3,68.26-1.77,6.72-2.18,15.01-1.83,24.16l.12-.43c.02.24,1.8,18.99,10.91,30.32-5.76-.84-10.32-5.4-10.49-5.57.58,2.18,9.22,19.38,11.72,32.15,20.4-19.16,35.65-43.42,40.78-68.96v-.07h.02s-.02.04-.02.04c11.56,37.18-10.26,83.61-37.33,110.33,0,.79-.15,2.06-.33,3.44l.15-.6s69.15,5.92,70.03-111.11c.01.07.02.14.03.21,17.04,59.99,12.74,140.96-74.26,136.62-5.26,21.99-14.23,42.71-22.67,53.98,4.08-3.76,15.69-17.92,19.77-27.54,14.84,25.22,39.07,73.29,48.95,111.92v.03c1.19,10.88-53.45,11.7-68.38,5.3-6.54-2.8-7.15-8.85-7.15-8.85Z\"><\/path><\/svg><\/div>\t\t\t\t\t<div class=\"e-7b4bdc0-1a8ab12 e-svg-base\" data-interaction-id=\"7b4bdc0\" data-e-type=\"widget\" data-id=\"7b4bdc0\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" fill=\"currentColor\" style=\"width: 100%; 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height: 100%; overflow: unset;\" id=\"mammut-clean\" data-name=\"mammut-clean\" viewBox=\"0 0 500 500\"><path fill-rule=\"evenodd\" d=\"M388.31,431.19h.02c-1.01-10.05.57-24.06,2.75-30.17-6.36-5.78-12.06-13.16-16.07-18.92-39.95,41.58-101.11,9.25-61.72-17.02,1.66,2.79,5.2,12.21-3.53,16.27,0,0,11.48.74,10.27-21.42,7.24-13.15,17.14-34.65,18.51-59.21-2.21,5.36-5.37,12.79-13.62,18.84,4.31-.24,6.33-.64,6.33-.64-.09.15-3.73,6.58-10.01,12.33,3.63-.99,7.32-3.01,7.32-3.01,0,0-10.87,14.85-26.22,32.09.96-4.88-5.6-8.14-5.6-8.14l-13.5,26.39c.02-.31.93-16.17-5.43-12.5-16.04,9.26-11.03,27.38-11.03,33.27,0,5.17,6.18,15.03,7.92,28.94.11.89-.02,1.87-.61,2.54-1.91,2.16-8.8,5.87-33.51,5.87s-34.94-2.9-38.08-4.79c-1.1-.66-1.69-1.94-1.77-3.22-.41-6.78-.78-13.16,1.02-18.44l1-2.36c4.44-8.69.83-31.19-1.95-34.51-2.21-2.65-14.86,5.18-20.01,8.53-4.49,10.31-9.45,21.93-10.04,23.98-3.27,9.61,11.64,12.45,9.32,23.91-.12.59-.44,1.17-.89,1.57-3.54,3.07-10.56,6.56-26.41,6.98-21.74.58-29.43-2.4-32.07-4.19-.89-.6-1.21-1.8-1-2.85,3.84-19.36,3.91-27.15-14.02-41.23-18.26.36-24.55,5.24-24.44,23.9,2.86,7.24,2.89,16.64,1.9,20.64-1.61,6.53-33.41,8.75-33.41,8.75-26.53,2.15-44.41,3.17-49.16-2.15-.63-.7-.67-1.81-.45-2.72,8.88-35.32,28.13-57.16,44.5-85.72,28.59-58.9,66.13-112.92,118.7-147.43,27.22-20.13,27.44-36.81,46.31-49.01,13.45-8.7,14.78-25.03,18.05-37.91.66-2.58-9.38,2.02-9.38,2.02,0,0,6.92-10.29,8.35-11.96,2.88-3.35,12.41-9.2,15.21-11.3,2.67-2.01-8.42-4.21-8.49-4.22,0,0,18.46-3.11,35.65-2.65,17.74.47,23.86-27.19,54.93-33.85,19.34-5.58,59.53,4.75,66.79,9.55,0,0-21.47.12-18.78.66,6.76,1.34,18.57,3.96,24.78,8.56.57.49-17.3,1.39-16.75,2.3,23.18,42.37,40.52,27.5,28.3,68.26-1.77,6.72-2.18,15.01-1.83,24.16l.12-.43c.02.24,1.8,18.99,10.91,30.32-5.76-.84-10.32-5.4-10.49-5.57.58,2.18,9.22,19.38,11.72,32.15,20.4-19.16,35.65-43.42,40.78-68.96v-.07h.02s-.02.04-.02.04c11.56,37.18-10.26,83.61-37.33,110.33,0,.79-.15,2.06-.33,3.44l.15-.6s69.15,5.92,70.03-111.11c.01.07.02.14.03.21,17.04,59.99,12.74,140.96-74.26,136.62-5.26,21.99-14.23,42.71-22.67,53.98,4.08-3.76,15.69-17.92,19.77-27.54,14.84,25.22,39.07,73.29,48.95,111.92v.03c1.19,10.88-53.45,11.7-68.38,5.3-6.54-2.8-7.15-8.85-7.15-8.85Z\"><\/path><\/svg><\/div>\t\t\n<\/div>\n\t\t\t<h4 data-interaction-id=\"c6a9c31\" class=\"e-c6a9c31-4d47ab3 rating-sub e-heading-base\" data-e-type=\"widget\" data-id=\"c6a9c31\">Market Sentiment Rating: positive<\/h4>\n\t\t\n<\/div>\n\n<\/div>\n\t\t<div class=\"elementor-element elementor-element-1c81523 elementor-widget elementor-widget-text-editor\" data-id=\"1c81523\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h3>Technical Analysis<\/h3><h4>Assessment<\/h4><p><span data-contrast=\"auto\">Technical analysis structures the timing framework of a position.<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><p><span data-contrast=\"auto\">Johnson &#038; Johnson&#8217;s technical structure has increasingly deteriorated in recent months. After a strong upward movement until early 2026, the stock is now in an extended consolidation and correction phase. <\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><p><span data-contrast=\"auto\">While Johnson &#038; Johnson continues to benefit from its defensive market position, stable cash flows, and strong dividend history, the current chart structure signals weakness rather than trend strength in the short term.<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><p><span data-contrast=\"auto\">The technical situation currently suggests a continuation of consolidation within a larger sideways phase rather than an immediate resumption of the long-term uptrend.<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><h4><b><span data-contrast=\"auto\">Key Takeaway<\/span><\/b><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"134245418\":true,\"134245529\":true,\"335559738\":299,\"335559739\":299}\"> <\/span><\/h4><p><span data-contrast=\"auto\">Johnson &#038; Johnson is currently in a technically weaker market phase with declining momentum and a damaged trend structure.<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><p><span data-contrast=\"auto\">The stock has so far defended important support levels, but currently shows neither sufficient trend strength nor a reliable signal for a new uptrend.<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><h4>Rationale<\/h4><h5><span class=\"TextRun SCXW200980025 BCX4\" lang=\"DE-AT\" xml:lang=\"DE-AT\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW200980025 BCX4\" data-ccp-parastyle=\"heading 3\">Development in recent weeks\/months<\/span><\/span><span class=\"EOP SCXW200980025 BCX4\" data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"134245418\":true,\"134245529\":true,\"335551550\":0,\"335551620\":0,\"335559738\":281,\"335559739\":281}\"> <\/span><\/h5>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<a href=\"https:\/\/mumak.me\/wp-content\/uploads\/2026\/06\/JNJ-Chart-3Juni20260603.png\" target=\"_self\" class=\"e-image-link-base\" data-interaction-id=\"1d329ce\"\n\t><img decoding=\"async\" class=\"e-image-base \" data-e-type=\"widget\" data-id=\"1d329ce\" src=\"https:\/\/mumak.me\/wp-content\/uploads\/2026\/06\/JNJ-Chart-3Juni20260603.png\" alt=\"JNJ Chart\"\/>\t<\/a>\t\t\t\t<div class=\"elementor-element elementor-element-8039a02 elementor-widget elementor-widget-text-editor\" data-id=\"8039a02\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><span data-contrast=\"auto\">After the strong rise into the area of:<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><p><strong>~$248.56 <\/strong><\/p><p><span data-contrast=\"auto\">a longer sideways movement at a high level initially developed.<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><p><span data-contrast=\"auto\">Since March, however, there has been:<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"346\" data-list-defn-props=\"{\"335552541\":1,\"335559685\":720,\"335559991\":360,\"469769226\":\"Symbol\",\"469769242\":[8226],\"469777803\":\"left\",\"469777804\":\"\uf0b7\",\"469777815\":\"hybridMultilevel\"}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">waning momentum<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"346\" data-list-defn-props=\"{\"335552541\":1,\"335559685\":720,\"335559991\":360,\"469769226\":\"Symbol\",\"469769242\":[8226],\"469777803\":\"left\",\"469777804\":\"\uf0b7\",\"469777815\":\"hybridMultilevel\"}\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"auto\">increasing selling pressure<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"346\" data-list-defn-props=\"{\"335552541\":1,\"335559685\":720,\"335559991\":360,\"469769226\":\"Symbol\",\"469769242\":[8226],\"469777803\":\"left\",\"469777804\":\"\uf0b7\",\"469777815\":\"hybridMultilevel\"}\" data-aria-posinset=\"3\" data-aria-level=\"1\"><span data-contrast=\"auto\">series of lower highs<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"346\" data-list-defn-props=\"{\"335552541\":1,\"335559685\":720,\"335559991\":360,\"469769226\":\"Symbol\",\"469769242\":[8226],\"469777803\":\"left\",\"469777804\":\"\uf0b7\",\"469777815\":\"hybridMultilevel\"}\" data-aria-posinset=\"4\" data-aria-level=\"1\"><span data-contrast=\"auto\">lack of trend continuation<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><\/ul><p><span data-contrast=\"auto\">The stock repeatedly fell below important short-term support levels and is currently only just above the central support zone around:<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><p><strong>~$219\u2013220 <\/strong><\/p><p><span data-contrast=\"auto\">The medium-term trend structure has thus significantly clouded.<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><h5><b><span data-contrast=\"auto\">Bollinger Bands<\/span><\/b><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"134245418\":true,\"134245529\":true,\"335559738\":299,\"335559739\":299}\"> <\/span><\/h5><p><span data-contrast=\"auto\">The stock traded in a stable uptrend along the upper Bollinger Band for an extended period.<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><p><span data-contrast=\"auto\">After the high in the range of:<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><p><strong>~$248.56 <\/strong><\/p><p><span data-contrast=\"auto\">there was, however:<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><ul><li><span data-contrast=\"auto\">successively falling highs<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><li><span data-contrast=\"auto\">declining trend dynamics<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><li><span data-contrast=\"auto\">increased downward volatility<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><li><span data-contrast=\"auto\">loss of institutional trend control<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><\/ul><p><span data-contrast=\"auto\">The current price is now near the lower Bollinger Band and clearly below the middle Bollinger Line.<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><p><span data-contrast=\"auto\">This signals:<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><ul><li><span data-contrast=\"auto\">weak buyer momentum<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><li><span data-contrast=\"auto\">dominant selling pressure<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><li><span data-contrast=\"auto\">lack of trend acceleration<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><li><span data-contrast=\"auto\">increased uncertainty<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><\/ul><p><span data-contrast=\"auto\">The Bollinger structure has thus developed from:<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><p><span data-contrast=\"auto\">\u2192 expansively bullish<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><p><span data-contrast=\"auto\">to:<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><p><span data-contrast=\"auto\">\u2192 defensive and weak<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><p><span data-contrast=\"auto\">developed.<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><h5><b><span data-contrast=\"auto\">RSI<\/span><\/b><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"134245418\":true,\"134245529\":true,\"335559738\":299,\"335559739\":299}\"> <\/span><\/h5><p><span data-contrast=\"auto\">The RSI recently fell significantly and is currently in the range of:<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><p><strong>~39\u201340 <\/strong><\/p><p><span data-contrast=\"auto\">This reflects:<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><ul><li><span data-contrast=\"auto\">negative momentum<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><li><span data-contrast=\"auto\">lack of buyer momentum<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><li><span data-contrast=\"auto\">increasing market caution<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><li><span data-contrast=\"auto\">weak trend stability<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><\/ul><p><span data-contrast=\"auto\">The RSI is thus already approaching oversold areas.<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><p><span data-contrast=\"auto\">This means:<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><ul><li><span data-contrast=\"auto\">increased short-term counter-movements possible<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><li><span data-contrast=\"auto\">technical recovery conceivable<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><li><span data-contrast=\"auto\">but no confirmed trend reversal yet<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><\/ul><p><span data-contrast=\"auto\">The RSI currently signals:<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><p><span data-contrast=\"auto\">\u2192 weak market structure<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><p><span data-contrast=\"auto\">with a lack of buyer dominance.<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><h5 aria-level=\"2\"><b><span data-contrast=\"auto\">MACD<\/span><\/b><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"134245418\":true,\"134245529\":true,\"335559738\":299,\"335559739\":299}\"> <\/span><\/h5><p><span data-contrast=\"auto\">The MACD lines are again in negative territory and show increasing weakness.<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><p><span data-contrast=\"auto\">This indicates:<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><ul><li><span data-contrast=\"auto\">persistent downward momentum<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><li><span data-contrast=\"auto\">lack of trend acceleration<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><li><span data-contrast=\"auto\">declining buyer activity<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><li><span data-contrast=\"auto\">uncertainty about the further market phase<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":0,\"335559739\":0}\"> <\/span><\/li><\/ul><p><span data-contrast=\"auto\">point to.<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><p><span data-contrast=\"auto\">The MACD currently confirms the weaker market phase and has not yet provided a reliable buy signal.<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><h4 aria-level=\"1\"><b><span data-contrast=\"auto\">Conclusion<\/span><\/b><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"134245418\":true,\"134245529\":true,\"335559738\":322,\"335559739\":322}\"> <\/span><\/h4><p><span data-contrast=\"auto\">From a chart perspective, the current pattern looks like:<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><p><strong>\u2192 Uptrend \u2192 Sideways phase \u2192 Loss of momentum \u2192 Correction <\/strong><\/p><p><span data-contrast=\"auto\">Johnson &#038; Johnson is currently in a technically weaker market phase.<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><p><span data-contrast=\"auto\">\u2192 Several recovery attempts failed at resistance levels<\/span> <br\/><span data-contrast=\"auto\">\u2192 Momentum indicators currently do not confirm a new upward wave<\/span> <br\/><span data-contrast=\"auto\">\u2192 Buyer momentum remains limited<\/span> <br\/><span data-contrast=\"auto\">\u2192 Trend structure appears damaged<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><p><span data-contrast=\"auto\">The current technical setup currently points more toward:<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><p><span data-contrast=\"auto\">\u2192 Risk control and waiting<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><p><span data-contrast=\"auto\">than toward:<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><p><span data-contrast=\"auto\">\u2192 aggressive position building.<\/span><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p><p><span data-contrast=\"auto\">\u2192 <\/span><b><span data-contrast=\"auto\">MUMAK.me Evaluation Phase 5: negative = 0 MUMAK<\/span><\/b><span data-ccp-props=\"{\"134233117\":false,\"134233118\":false,\"335559738\":240,\"335559739\":240}\"> <\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-fd6a84e e-con e-atomic-element e-div-block-base e-fd6a84e-1d82a61 \" data-id=\"fd6a84e\" data-element_type=\"e-div-block\" data-e-type=\"e-div-block\" data-interaction-id=\"fd6a84e\" data-e-type=\"e-div-block\" data-id=\"fd6a84e\">\n    <div class=\"elementor-element elementor-element-27b0ff2 e-con e-atomic-element e-div-block-base e-27b0ff2-bec755f \" data-id=\"27b0ff2\" data-element_type=\"e-div-block\" data-e-type=\"e-div-block\" data-interaction-id=\"27b0ff2\" data-e-type=\"e-div-block\" data-id=\"27b0ff2\">\n    \t\t\t<div class=\"e-162921c-93f56d1 e-svg-base\" data-interaction-id=\"162921c\" data-e-type=\"widget\" data-id=\"162921c\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" fill=\"currentColor\" style=\"width: 100%; height: 100%; overflow: unset;\" viewBox=\"0 0 342 342\"><circle fill=\"#f4ecdb\" cx=\"171\" cy=\"171\" r=\"111.86\"><\/circle><path fill=\"none\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M207,135.36l134,35.91h-169.91l35.9-35.91Z\"><\/path><path fill=\"rgba(226,215,200,.7)\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M207,207l134-35.91h-169.91l35.9,35.91Z\"><\/path><path fill=\"none\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M135.36,135L171.26,1v169.91l-35.91-35.9Z\"><\/path><path fill=\"none\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M135,207L1,171.09h169.91l-35.9,35.91Z\"><\/path><path fill=\"rgba(226,215,200,.7)\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M135,135.36L1,171.26h169.91l-35.9-35.91Z\"><\/path><path fill=\"none\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M207,207l-35.91,134v-169.91l35.91,35.91Z\"><\/path><path fill=\"rgba(226,215,200,.7)\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M207,135L171.09,1v169.91l35.91-35.9Z\"><\/path><path fill=\"rgba(226,215,200,.7)\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M135.36,207l35.91,134v-169.91l-35.91,35.91Z\"><\/path><\/svg><\/div>\t\t\n<\/div>\n<div class=\"elementor-element elementor-element-e7e943f e-con e-atomic-element e-div-block-base e-e7e943f-d23b8df \" data-id=\"e7e943f\" data-element_type=\"e-div-block\" data-e-type=\"e-div-block\" data-interaction-id=\"e7e943f\" data-e-type=\"e-div-block\" data-id=\"e7e943f\">\n    \t\t\t<h4 data-interaction-id=\"c6ebb1b\" class=\"rating-head e-heading-base\" data-e-type=\"widget\" data-id=\"c6ebb1b\">Johnson &amp; Johnson<\/h4>\n\t\t<div class=\"elementor-element elementor-element-be86ed4 e-con e-atomic-element e-div-block-base e-be86ed4-cde1a61 \" data-id=\"be86ed4\" data-element_type=\"e-div-block\" data-e-type=\"e-div-block\" data-interaction-id=\"be86ed4\" data-e-type=\"e-div-block\" data-id=\"be86ed4\">\n    \t\t\t<div class=\"e-bc3c677-f664bd2 e-svg-base\" data-interaction-id=\"bc3c677\" data-e-type=\"widget\" data-id=\"bc3c677\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" fill=\"currentColor\" style=\"width: 100%; height: 100%; overflow: unset;\" id=\"mammut-clean\" data-name=\"mammut-clean\" viewBox=\"0 0 500 500\"><path fill-rule=\"evenodd\" 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data-interaction-id=\"536e156\" class=\"e-536e156-382c376 rating-sub e-heading-base\" data-e-type=\"widget\" data-id=\"536e156\">Technical Analysis Evaluation: negative<\/h4>\n\t\t\n<\/div>\n\n<\/div>\n\t\t<div class=\"elementor-element elementor-element-afade06 elementor-widget elementor-widget-text-editor\" data-id=\"afade06\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h2>Summary<\/h2><p data-start=\"1912\" data-end=\"2069\">The analysis shows an overall stable positive picture with an attractive long-term strategic positioning.<\/p><p data-start=\"2071\" data-end=\"2143\"><strong>\u2192 Geopolitics \u2192 Industry \u2192 Fundamental Data \u2192 Market Sentiment \u2192 Chart Analysis<\/strong><\/p><p data-start=\"2145\" data-end=\"2338\">Johnson &#038; Johnson continues to be one of the world&#8217;s leading healthcare companies, combining defensive stability with innovation-driven growth.<\/p><p data-start=\"2340\" data-end=\"2382\">The investment case is increasingly based on:<\/p><p data-start=\"2384\" data-end=\"2550\">Innovative Medicine + Medical Technology (MedTech) + Oncology + Immunology + Cardiovascular Innovations + Surgical Technologies + Dividend Growth + Balance Sheet Strength<\/p><p data-start=\"2552\" data-end=\"2585\">Johnson &#038; Johnson benefits from:<\/p><ul data-start=\"2587\" data-end=\"3068\"><li data-section-id=\"1qb3j1x\" data-start=\"2587\" data-end=\"2647\">aging populations and rising healthcare expenditures<\/li><li data-section-id=\"32wkl1\" data-start=\"2648\" data-end=\"2723\">strong market positions in oncology, immunology, and neuroscience<\/li><li data-section-id=\"11zysu7\" data-start=\"2724\" data-end=\"2775\">a broadly diversified healthcare portfolio<\/li><li data-section-id=\"1d3e8dr\" data-start=\"2776\" data-end=\"2827\">growing demand for modern medical technology<\/li><li data-section-id=\"imb1j9\" data-start=\"2828\" data-end=\"2883\">high profitability and strong cash flow generation<\/li><li data-section-id=\"alyu8s\" data-start=\"2884\" data-end=\"2935\">one of the strongest balance sheets in the healthcare sector<\/li><li data-section-id=\"e70u2i\" data-start=\"2936\" data-end=\"2999\">continuous innovation through a strong product pipeline<\/li><li data-section-id=\"m693ys\" data-start=\"3000\" data-end=\"3068\">more than six decades of continuous dividend increases<\/li><\/ul><p data-start=\"3475\" data-end=\"3884\" data-is-last-node=\"\" data-is-only-node=\"\">Johnson &#038; Johnson thus remains a high-quality healthcare company with attractive long-term growth prospects. The central risk factor lies less in operational development or financial strength, but primarily in patent expirations, regulatory risks, litigation, and the currently damaged chart technical situation. <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2a3f9ae elementor-widget elementor-widget-text-editor\" data-id=\"2a3f9ae\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h3>Rating According to the MUMAK Method<\/h3>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e0cb027 elementor-widget elementor-widget-Table\" data-id=\"e0cb027\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"Table.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<table class=\"tafe-table \">\n\t\t\t<thead  class=\"tafe-table-header\">\n\t\t\t\t<tr>\n\t\t\t\t\t<th class=\"elementor-inline-editing elementor-repeater-item-a4af3fd\"   >Category<\/th><th class=\"elementor-inline-editing elementor-repeater-item-3b3ef9b\"   >Rating<\/th>\t\t\t\t<\/tr>\n\t\t\t<\/thead>\n\t\t\t\t\t\t<tbody class=\"tafe-table-body\">\n\t\t\t\t<tr>\n\t\t\t\t\t<td data-label=\"Category\"   class=\"elementor-repeater-item-ca181a9 td-content-type-default\" ><b>Geopolitics<\/b><\/td><td data-label=\"Rating\"   class=\"elementor-repeater-item-24148b1 td-content-type-default\" >Positive<\/td><\/tr><tr><td data-label=\"Category\"   class=\"elementor-repeater-item-750ef14 td-content-type-default\" ><b>Industry<\/b><\/td><td data-label=\"Rating\"   class=\"elementor-repeater-item-b92892f td-content-type-default\" >Positive<\/td><\/tr><tr><td data-label=\"Category\"   class=\"elementor-repeater-item-da9ce5b td-content-type-default\" ><b>Fundamentals<\/b><\/td><td data-label=\"Rating\"   class=\"elementor-repeater-item-9492819 td-content-type-default\" >Positive<\/td><\/tr><tr><td data-label=\"Category\"   class=\"elementor-repeater-item-6f870ed td-content-type-default\" ><b>News &amp; Sentiment<\/b><\/td><td data-label=\"Rating\"   class=\"elementor-repeater-item-1c7f62f td-content-type-default\" >Positive<\/td><\/tr><tr><td data-label=\"Category\"   class=\"elementor-repeater-item-ca1b684 td-content-type-default\" ><b>Technical Analysis<\/b><\/td><td data-label=\"Rating\"   class=\"elementor-repeater-item-5f69e06 td-content-type-default\" >Negative<\/td>\t\t\t\t<\/tr>\n\t\t\t<\/tbody>\n\t\t<\/table>\n\t\t\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-11acf94 elementor-widget elementor-widget-text-editor\" data-id=\"11acf94\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h3>Overall Rating<\/h3>\t\t\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-b96ba47 e-con e-atomic-element e-div-block-base e-b96ba47-424a199 \" data-id=\"b96ba47\" data-element_type=\"e-div-block\" data-e-type=\"e-div-block\" data-interaction-id=\"b96ba47\" data-e-type=\"e-div-block\" data-id=\"b96ba47\">\n    <div class=\"elementor-element elementor-element-ddb649c e-con e-atomic-element e-div-block-base e-ddb649c-a49cb36 \" data-id=\"ddb649c\" data-element_type=\"e-div-block\" data-e-type=\"e-div-block\" data-interaction-id=\"ddb649c\" data-e-type=\"e-div-block\" data-id=\"ddb649c\">\n    \t\t\t<div class=\"e-a4018ef-1154e27 e-svg-base\" data-interaction-id=\"a4018ef\" data-e-type=\"widget\" data-id=\"a4018ef\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" fill=\"currentColor\" style=\"width: 100%; height: 100%; overflow: unset;\" viewBox=\"0 0 342 342\"><circle fill=\"#f4ecdb\" cx=\"171\" cy=\"171\" r=\"111.86\"><\/circle><path fill=\"none\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M207,135.36l134,35.91h-169.91l35.9-35.91Z\"><\/path><path fill=\"rgba(226,215,200,.7)\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M207,207l134-35.91h-169.91l35.9,35.91Z\"><\/path><path fill=\"none\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M135.36,135L171.26,1v169.91l-35.91-35.9Z\"><\/path><path fill=\"none\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M135,207L1,171.09h169.91l-35.9,35.91Z\"><\/path><path fill=\"rgba(226,215,200,.7)\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M135,135.36L1,171.26h169.91l-35.9-35.91Z\"><\/path><path fill=\"none\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M207,207l-35.91,134v-169.91l35.91,35.91Z\"><\/path><path fill=\"rgba(226,215,200,.7)\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M207,135L171.09,1v169.91l35.91-35.9Z\"><\/path><path fill=\"rgba(226,215,200,.7)\" stroke=\"rgba(226,215,200,.7)\" stroke-width=\"2\" stroke-linejoin=\"round\" d=\"M135.36,207l35.91,134v-169.91l-35.91,35.91Z\"><\/path><\/svg><\/div>\t\t\n<\/div>\n<div class=\"elementor-element elementor-element-bea1700 e-con e-atomic-element e-div-block-base e-bea1700-1cbdfae \" data-id=\"bea1700\" data-element_type=\"e-div-block\" data-e-type=\"e-div-block\" data-interaction-id=\"bea1700\" data-e-type=\"e-div-block\" data-id=\"bea1700\">\n    \t\t\t<h4 data-interaction-id=\"6bac146\" class=\"rating-head e-heading-base\" data-e-type=\"widget\" data-id=\"6bac146\">Johnson &amp; Johnson<\/h4>\n\t\t\t\t<div class=\"elementor-element elementor-element-316a010 elementor-widget elementor-widget-rating\" data-id=\"316a010\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"rating.default\">\n\t\t\t\t\t\t\t<div class=\"e-rating\" itemtype=\"https:\/\/schema.org\/Rating\" itemscope=\"\" itemprop=\"reviewRating\">\n\t\t\t<meta itemprop=\"worstRating\" content=\"0\">\n\t\t\t<meta itemprop=\"bestRating\" content=\"5\">\n\t\t\t<div class=\"e-rating-wrapper\" itemprop=\"ratingValue\" content=\"4\" role=\"img\" aria-label=\"Rated 4 out of 5\">\n\t\t\t\t\t\t\t<div class=\"e-icon\">\n\t\t\t\t<div class=\"e-icon-wrapper e-icon-marked\">\n\t\t\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" id=\"mammut-clean\" data-name=\"mammut-clean\" viewBox=\"0 0 500 500\"><path fill-rule=\"evenodd\" 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data-interaction-id=\"aadfcef\" class=\"e-aadfcef-4a9160a rating-sub e-heading-base\" data-e-type=\"widget\" data-id=\"aadfcef\">Analysis Result: 4 out of 5 MUMAKS<\/h4>\n\t\t\n<\/div>\n\n<\/div>\n\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Johnson &#038; Johnson is one of the world&#8217;s leading healthcare companies. The company benefits from a strong position in pharmaceuticals and medical technology, a robust innovation pipeline, and an exceptionally solid balance sheet.  <\/p>\n","protected":false},"author":2,"featured_media":2318,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[183,227],"tags":[311,380,378,375,377,329],"aktie":[372],"class_list":["post-4079","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-valuation-analysis","category-watchlist","tag-dividend-stocks","tag-healthcare-sector","tag-jnj","tag-johnson-johnson","tag-medical-technology","tag-pharmaceutical-industry","aktie-johnson-johnson"],"acf":[],"_links":{"self":[{"href":"https:\/\/mumak.me\/en\/wp-json\/wp\/v2\/posts\/4079","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mumak.me\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mumak.me\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mumak.me\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/mumak.me\/en\/wp-json\/wp\/v2\/comments?post=4079"}],"version-history":[{"count":6,"href":"https:\/\/mumak.me\/en\/wp-json\/wp\/v2\/posts\/4079\/revisions"}],"predecessor-version":[{"id":4127,"href":"https:\/\/mumak.me\/en\/wp-json\/wp\/v2\/posts\/4079\/revisions\/4127"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mumak.me\/en\/wp-json\/wp\/v2\/media\/2318"}],"wp:attachment":[{"href":"https:\/\/mumak.me\/en\/wp-json\/wp\/v2\/media?parent=4079"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mumak.me\/en\/wp-json\/wp\/v2\/categories?post=4079"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mumak.me\/en\/wp-json\/wp\/v2\/tags?post=4079"},{"taxonomy":"aktie","embeddable":true,"href":"https:\/\/mumak.me\/en\/wp-json\/wp\/v2\/aktie?post=4079"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}