Johnson's longest-tenured portfolio management is worth mentioning, which boasts 20 years of average tenure. In general, seasoned teams tend to have more experience in both up and down markets. Johnson's risk-adjusted performance compares similarly to competitors. Across its open-end and exchange-traded funds, the firm’s average 10-year Morningstar Rating is 3.3 stars, which is about standard. Johnson has undergone a bout of turnover in the past five years, as denoted by lower-than-average portfolio manager retention. Turnover in the portfolio-management ranks can happen for a number of reasons, including mergers and liquidations, portfolio managers moving into other roles, or portfolio managers leaving the firm. In some cases, such change may not signal a serious or immediate problem at the firm, but can still be disruptive for investors, hinder the effectiveness of a firm’s investment processes, or suggest a weaker investment culture.
Johnson & Johnson Earnings: Solid Growth to Start the Year, but We Expect That to Slow by Midyear
We still view the stock as undervalued, with the market not fully appreciating J&J’s innovative products.