The Jensen Investment Team recently completed the sale of Johnson & Johnson (JNJ) shares from the Global Quality Growth Strategy to take advantage of better opportunities within the Strategy and from our bench of investment candidates.
First added to the Strategy in 2020, JNJ is a global leader in pharmaceuticals and medical devices. We made the decision to exit the position because of our view that better opportunities exist in our global pharmaceutical investable universe, including Strategy holdings AstraZeneca (AZN) and Pfizer (PFE). Additionally, the recent addition of Waters Corporation (WAT) allows us to maintain the Strategy’s broad exposure to expected growth in the life sciences and pharmaceutical markets.
We intend to closely monitor JNJ and may consider reestablishing a position in the Global Strategy should we perceive a more attractive entry point.
Strategy holdings are subject to change and should not be considered recommendations to buy or sell any security.
The discussion of the specific security identified in this article is solely intended to illustrate the application of our investment approach. Our views expressed herein are subject to change and should not be construed as investment advice and are not designed or intended as a basis or determination for making any investment decision for any security. This information is current as of the date of this material and is subject to change at any time, based on the market and other conditions. Past performance is no guarantee of future results.
Jensen Investment Management, Inc., is an investment adviser registered under the Investment Advisers Act of 1940. Registration with the SEC does not imply any level of skill or training.
© 2023 Jensen Investment Management.
Jensen News & Insights
The railway industry might not seem like a hotbed of cutting-edge technological innovation, but there is much to learn from Canadian National Railway.
How AI’s disruptive potential is impacting Accenture and Intuit, two companies in the Jensen Quality Growth and Global Quality Growth Strategies.
There are growing hopes that GLP-1 agonist drugs could have a transformative impact. However, markets may be getting ahead of themselves.
What is the opportunity in the global markets? Portfolio Managers Allen Bond, Kevin Walkush and Jeff Wilson answer questions about the Jensen Global Quality Growth Strategy.
While inflation feels more tolerable now than it did in 2022, it is still high. As the storm clouds have not fully dispersed, at Jensen, we counsel investors to remain vigilant — and their advisors even more so.
The Jensen Investment Team adds Waters Corporation (WAT), an analytical laboratory instrument and software company, to the Global Quality Growth Strategy.