Johnson & Johnson beat earnings estimates for the fourth quarter but gave guidance for the fiscal year on the low side of expectations. J&J mentioned the medical device tax included in the Affordable Care Act several times in the company's conference call. Johnson & Johnson outlined several ways to bring down healthcare costs and suggested focusing on one product's costs was overlooking the bigger picture.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

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