Johnson & Johnson (JNJ 0.46%) pleased investors with a fourth-quarter earnings call that was generally positive. Unfortunately, the coronavirus pandemic continues to pressure one of the company's big operating segments.

In this Motley Fool Live video, recorded on Jan. 29, healthcare and cannabis bureau chief Corinne Cardina and Fool.com writer Cory Renauer discuss the big problem facing Johnson & Johnson's medical device segment.

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Corinne Cardina: Is there anything that raised eyebrows in Johnson & Johnson's earnings that might be a red or yellow flag.

Cory Renauer: I wouldn't call it a red flag, I'd call it yellow. The company's medical device segment has not been doing well during the coronavirus pandemic. It's hard to say when it's going to bounce back, it might be the first quarter or second quarter or the third. That's because a lot of the company's medical device segment is comprised of hip and knee replacements, which when you need one you one. But you can generally put it off until there isn't a pandemic going on. So that's not a red flag, yellow flag, and something that will probably work itself out.

Cardina: Right. That's a similar tailwind to what will discuss with Intuitive Surgical in a few minutes. Overall, would you say that Johnson & Johnson is a buy?

Renauer: Overall, yes. Johnson & Johnson has been a good stock to buy for over a century. That said, it is a little bit expensive now and you might have to hang on for a long time before you see a positive return if the market goes south next month. But if you hang onto it long enough you will probably come out ahead. This is a good safe stock to buy, it makes a good cornerstone for any portfolio.

Cardina: Certainly. Of course, it has a nice dividend. So the dividend yields about 2.4%. It is a very large company. So like you said, this isn't something that is going to double or triple in the next year. But it is certainly could be a strong component to a diversified portfolio. Johnson & Johnson is in itself very diversified. We mentioned those segments. The pharmaceuticals really boosted it when its medical devices were not doing so well. Its consumer segment has not done terribly during the pandemic.