JMP reiterates market perform for J&J

Johnson & Johnson Inc. was reiterated by JMP Securities analyst Robert C. Faulkner at a market perform rating after the company announced it would acquire Animas for $518 million, or $22.50 a share, in cash. The deal makes strategic sense, JMP said, because J&J has a strong presence in blood glucose monitoring but lacks a presence in the insulin pump business. Shares of the New Brunswick, N.J., pharmaceutical and health care products company were up 70 cents, or 1.16%, at $60.86 on volume of 13,168,900 shares versus the three-month running average of 10,295,500 shares.

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