Shares of Johnson & Johnson dipped briefly Friday after an analyst took aim at the company's medical device business.
BTIG downgraded the stock from "buy" to "neutral" due to decreased confidence that Johnson & Johnson will be able to execute a large, money-making acquisition of a heart disease device company, analyst Dane Leone wrote in a research note.
Shares fell as low as $113.36 per share in early trading, but closed just 0.6 percent lower at $113.54 a share.
BTIG downgraded the stock from "buy" to "neutral" due to decreased confidence that Johnson & Johnson will be able to execute a large, money-making acquisition of a heart disease device company, analyst Dane Leone wrote in a research note.
Shares fell as low as $113.36 per share in early trading, but closed just 0.6 percent lower at $113.54 a share.
