Jim Cramer Notes Johnson & Johnson is "Really Bearing Down on High-Growth Pharma"

Johnson & Johnson (NYSE:JNJ) is one of the stocks Jim Cramer recently put under a microscope. Cramer said that “you’d do very well” owning the stock, as he stated:

“If you want to venture beyond what we call the CPG, consumer packaged goods, world, I think you’d do very well with owning J&J or Amgen… J&J’s getting out of everything non-proprietary, artificial joints for example, and really bearing down on high-growth pharma with cancer being a specialty… They both have yields, more than 2.7%. How strongly do I feel about these former safety stocks? We have a monthly investment club meeting on Thursday, and I’ve told Jeff Marks, my co-portfolio manager, that we at least have to put one of these names in the bullpen. I don’t want to wait to look back and say, how did we miss that bottom?”

Johnson & Johnson (NYSE:JNJ) develops and sells healthcare products, including pharmaceuticals and medical technologies, with treatments in immunology, oncology, neuroscience, cardiovascular care, and infectious diseases. In addition, the company provides surgical systems, orthopaedic solutions, cardiovascular devices, and vision care products.

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Disclosure: None. This article is originally published at Insider Monkey.