Shares of Johnson & Johnson (NYSE: JNJ) rose 6% in a single trading session last week as investors responded to a second-quarter earnings report that was far more positive than they were expecting.

Of course, one good quarterly report on its own isn't a great reason to buy J&J or any business. Let's take a closer look at J&J's recent performance in light of the major shakeup that occurred earlier this year to see if the stock is a good buy now.

In February, J&J spun off its consumer health segment into a new company named Kenvue. J&J still owns 90% of Kenvue shares, but J&J shareholders will soon have the option to exchange some, all, or none of their J&J stock for shares of the new company.

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Source Fool.com