New Jersey-based Johnson & Johnson shares inched 0.25% higher to $165.37 Monday. This proved to be an all-around mixed trading session for the stock market, with the S&P 500 Index SPX rising 0.18% to 4,255.15 and the Dow Jones Industrial Average DJIA falling 0.25% to 34,393.75.
Johnson & Johnson closed $8.28 short of its 52-week high ($173.65), which the company achieved on January 26th. The stock demonstrated a mixed performance when compared to some of its competitors Monday, as Roche Holding AG Part. Cert. RHHVF rose 2.24% to $388.50, Merck & Co. Inc. MRK fell 0.22% to $75.45, and Pfizer Inc. PFE fell 1.30% to $39.63.
According to Wells Fargo analyst Larry Biegelsen, this verdict implies a payout of $95 million per claimant, but precedent from other large class-action settlements suggests that possible settlement in the multidistrict litigation is more likely in the $50,000 to $200,000 range. if the number of cases reaches 60,000 and the average payout is $150,000 each, the analyst estimates a total future settlement of $9 billion, on top of the $2.5 billion.