Johnson & Johnson is a giant in the healthcare space, and investing in the company's stock could be a good move, according to an Investor Place report.
Here are eight things to know about the company, which is parent company to orthopedics-focused DePuy Synthes:
1. J&J has a strong balance sheet and makes brand-name products consumers have bought for generations, and will likely continue to trust and purchase in the future.
2. The stock has a "healthy dividend" at 2.8 percent and $294.8 billion market cap.
3. The company's portfolio is diverse with both pharmaceutical and medical supplies as well as devices offered globally.
4. The economic recovery and healthcare reform providing more people with insurance is expected to continue generating income and appreciation for the company.
5. While some of the company's devices settled lawsuits recently, the report author doesn't see this as an issue. "The medical device industry enjoys tailwinds that should accelerate over the next few years," according to the report.
6. DePuy Synthes is among one of the key market players in the global orthopedics and spine markets. The global orthopedic industry is expected to grow 8.1 percent through 2020, reaching $596 million.
7. Johnson & Johnson is also spending $3 billion each year in research and development, and innovations in the chronic disease space benefit the company.
8. J&J is expected to outperform the broad market next year.