People complains on JNJ stock price is mainly because there is no change since April 2002 Weldon is in charge, not year 2000. I estimate $13,000 is more likely instead of $16,000. Investor has the right to critic the management when he is not satisfied with the company performance. If he says nothing then he is not a good investor ! I definitely will buy more JNJ only if there is meaningful management change.
SJJPHARM - You are absolutely correct saying investors have every right to be critical of management if he/she is not satisfied with a company's performance. It makes good sense to be critical of management and the current business issues because that's negatively impacting results in the near term.
However, in my humble opinion, it makes little sense to criticize the long-term results of the stock. Management doesn't dictate the ups and downs of the greater stock market, so it's little fault of JNJ's management if people were willing to buy at inflated prices a decade or so back. It's similar to those ripping CSCO's stock price, although I am critical of their reluctance to share the wealth by instituting a dividend (soon hopefully).
As for the a $10k JNJ investment in 2000, I got the $16k +/- from Morningstar (be it right or wrong).
I too hope management gets their act together and based on JNJ's long history of righting their wrongs, I have little doubt they will. In the meantime, I'll be buying the depressed stock, followed by holding when normalcy returns and if everything goes well, will sell when irrational exuberance strikes again at some point in the distant future.
I'm also considering adding to my ABT and CSCO positions at current levels, but haven't pulled the trigger just yet. Similar stories to JNJ (minus the dividend for CSCO).
BTW... Here are some annualized performance records for JNJ compared to the S&P and it's Drug Peers. JNJ is getting destroyed this year (at least compared to the S&P), but has done remarkable well over the 5,10 and 15 year periods.
15 Year: Total Return JNJ: 8.21% Total Return S&P 500: 7.99% Drug Manufacturers Major: 6.8%
10 Year: Total Return JNJ: 4.83% Total Return S&P 500: 1.3% Drug Manufacturers Major: .37%
5 Year: Total Return JNJ: 3.26% Total Return S&P 500: 1.05% Drug Manufacturers Major: 2.02%
1 Year: Total Return JNJ: -2.63% Total Return S&P 500: .57% Drug Manufacturers Major: 20.07%