American Multinational Corporation Johnson and Johnson Stock Underperformed

The Shares of Johnson & Johnson inched 0.10% higher to $170.39 Monday. This proved to be an all-around dismal trading session for the Stock market, with the S&P 500 Index SPX falling 0.25% to 4,163.29 and Dow Jones Industrial Average DJIA falling 0.16% to 34,327.79. This was the stock’s third consecutive day of gains.

Johnson & Johnson closed $3.26 below its 52-week high ($173.65), which the company reached on January 26th. The Stock Underperformed when compared to some of its competitors Monday, as Roche Holding AG Part. Cert. RHHVF rose 1.00% to $340.00, Merck & Co. Inc. MRK rose 2.02% to $79.87, and Pfizer Inc. PFE rose 0.22% to $40.11. Trading volume (5.1 M) remained 2.2 million below its 50-day average volume of 7.3 M.

Johnson & Johnson has cut by half expected deliveries of COVID-19 vaccines to the European Union this week on Monday, compounding supply problems the company has faced since it began shipping doses to the bloc in April. Under its contract with the EU, the company has committed to shipping 55 million doses of its one-shot vaccine in the second quarter. The company had delivered less than 5 million doses which is less than 10% of its target.

The company has faced production problems in the United States. The EU official said doses meant for the EU were produced both in the United States and in a factory in Leiden, in the Netherlands. Both the EU source and the spokesman said the company was still aiming to deliver the contracted 55 million doses by the end of June.