Johnson & Johnson (JNJ -1.15%) had what on the surface appeared to be a pretty good quarter -- revenue and earnings were up solidly year-over-year, and the pharma business grew like a weed.

But looking under the surface, things didn't appear nearly as positive. And in the video below, Motley Fool health care analyst Michael Douglass lays out his concerns with Johnson & Johnson and what he thinks about this top dividend stock.