Is Johnson & Johnson Stock a Buy?

Johnson Johnson (NYSE: JNJ) is one of the world's largest and most prominent healthcare players. The pharmaceutical leader has a long and impressive track record of innovation, financial results, and stock market performance. However, Johnson Johnson has encountered issues in recent years that, for some investors, raise serious questions concerning its ability to deliver the same results it has in the past. One of these headwinds relates to the Inflation Reduction Act (IRA), a relatively new law in the U.S. that grants Medicare the power to negotiate the price of some pharmaceutical drugs. The first round of negotiations is now over, and we are starting to see the impact this law could have on some of Johnson Johnson's medicines.

Should investors still consider the stock?