MASSDEVICE ON CALL — Investment tycoon Warren Buffet may be ready to ditch his stake in Johnson & Johnson (NYSE:JNJ), he said during a CNBC interview.
J&J has "obviously has messed up in a lot of ways in the last few years," the chairman & CEO of Berkshire Hathaway (NYSE:BRK.A) said, referring to a slew of company recalls covering a range of products from hip implants to baby lotion.
Buffet owns about 31.4 million shares, representing 1.2% of Johnson & Johnson, Reuters reported. J&J has been among Berkshire Hathaway’s biggest investments since 2006.
The health care giant announced this month that long-time CEO William Weldon would pass the torch to Alex Gorsky on April 26, the day of the company’s annual meeting with shareholders.
JNJ shares were down 19 cents to $64.28 as of about 10:30 a.m. this morning.
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