If You Invested $1,000 In Johnson & Johnson Stock At Its COVID-19 Pandemic Low, Here's How Much You'd Have Now

Investors who bought stocks during the COVID-19 market crash in 2020 have generally experienced some big gains in the past two years. But there is no question some big-name stocks performed better than others since the pandemic bottom.

Johnson & Johnson's Bumpy Road: One company that has been a solid investment in the past two years has been pharmaceutical giant Johnson & Johnson JNJ.

Johnson & Johnson investors have likely been somewhat disappointed with the performance of the stock in the past two years given how much attention the company’s COVID-19 vaccine initially received.

In addition, the company is facing a number of costly and potentially damaging legal battles. In October 2020, Johnson & Johnson agreed to settle more than 1,000 talcum powder lawsuits for $100 million. That same month, the company also agreed to add an additional $1 billion to its 2019 $4 billion settlement related to its role in the U.S. opioid crisis. 

At the beginning of 2020, Johnson & Johnson shares were trading at around $146. By the beginning of March, the stock was down to $134.78, after news of COVID-19 spreading in China prompted concerns about a U.S. pandemic.

Johnson & Johnson bottomed at $105.63 during the pandemic-driven March sell-off. Fortunately for J&J investors, the dip did not last long.

Related Link: If You Invested $1,000 In Southwest Airlines (LUV) Stock At Its COVID-19 Pandemic Low, Here's How Much You'd Have Now

By late April, Johnson & Johnson shares were back to new all-time highs above $150 on vaccine optimism. However, the stock stalled there while J&J and other competitors raced to win the vaccine testing and approval race.

Johnson & Johnson shares dropped as low as $131.09 in October when the company briefly halted its COVID-19 vaccine trials after test subjects contracted unexplained illnesses.

In January 2021, the stock hit $171.50 in anticipation of the FDA approval.

While J&J didn’t win the vaccine race, its vaccine was ultimately granted emergency FDA authorization in late February 2021. Unfortunately, the FDA began limiting its recommendation of the J&J COVID-19 vaccine in May 2022 to adults ages 18 or older that cannot access vaccines produced by Pfizer Inc. PFE, Moderna Inc MRNA or Novavax, Inc. NVAX. The restriction comes after reports the vaccination caused rare cases of thrombosis or thrombocytopenia syndrome (TTS).

Related Link: If You Invested $1,000 In Nikola Stock At Its COVID-19 Pandemic Low, Here's How Much You'd Have Now

Johnson & Johnson In 2022, Beyond:  Johnson & Johnson eventually made it as high as $186.69 in April 2022 before the latest FDA ruling limiting its recommendation.

Meanwhile, Johnson & Johnson's revenue growth slowed to just 3% in the most recent quarter as investors anticipate the company's planned spinoff of its consumer health segment sometime before November 2023. Today, Johnson & Johnson shares have traded all the way back down to around $168.

Still, investors who bought Johnson & Johnson stock the day it hit its 2020 pandemic low and held on have generated some decent returns at this point. In fact, $1,000 in Johnson & Johnson stock bought on Dec. 24, 2020, would be worth about $1,604 today, assuming reinvested dividends.

Looking ahead, analysts are expecting Johnson & Johnson stock to rebound in the next 12 months. The average price target among the 18 analysts covering the stock is $187, suggesting 11.2% upside from current levels.