Jim Cramer Notes That “People Are Staying Away From” Johnson & Johnson

Cramer noted that investors are skirting Johnson & Johnson (NYSE:JNJ) because of worries regarding Robert Kennedy Jr., as he commented:

“Or let’s consider Johnson & Johnson, triple A balance sheet, many drugs in the pipeline, one of the best-run companies in America, if not the world, with perhaps the most billion-dollar franchises of any pharmaceutical company I know, but JNJ only yields 3.55%, and it’s got this terrible legal overhang related to allegations that its talcum powder, no longer in the market, caused ovarian cancer. We don’t know how open-ended the claims are. Can you tolerate that risk? I’d love to say just go buy JNJ, but where? What price? That yield is no longer enough to compensate you for the risk, especially if you don’t know if RFK Jr dislikes some of their drug delivery mechanisms and formulas, so people are staying away from that, too, not just because of the bonds. JNJ… 3.3%.”

A smiling baby with an array of baby care products in the foreground.

Johnson & Johnson (NYSE:JNJ) is a healthcare business involved in creating, producing, and selling a wide range of medical products.

READ NEXT: Jim Cramer Put These 8 Stocks Under a Microscope Recently and Jim Cramer Commented on These 6 Natural Gas Players

Disclosure: None.