Johnson & Johnson (NYSE: JNJ) stock had a disappointing 2023, seeing its share price fall by 11%. In the year before that, the stock only generated a modest return of 3%. It's fair to say J&J has been an underwhelming investment.

While the stock is underperforming, Johnson & Johnson as a business is pivoting more toward growth of late. It spun off its consumer health business in 2023, and it has been spending money on acquisitions that can help boost its growth potential in the long run.

Given J&J's recent deals and its more modest valuation, is now the time to buy shares of this top healthcare company?

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Source Fool.com