Wednesday, 1 February 2023

Business News

Johnson & Johnson Reports Earnings: Did it Beat Estimate Forecasts?

Prelude Therapeutics management to meet virtually with Jefferies

Johnson & Johnson (JNJ) reported an earnings beat for its 4th quarter, ending 12/31/2022. Earnings per share came in at $2.35, versus the expected $2.24.

The reported revenue of $23.71 billion represents a decrease of -0.44% compared to the previous quarter, and a decrease of -4.46% compared to the same period last year.

For the 1st quarter, analysts project earnings of $2.56 per share.

Often, earnings announcements affect a stock’s price. See a history of earnings-related price changes for JNJ stock.

What’s Next for Johnson & Johnson, Post-Earnings?

According to TipRanks, the average analyst consensus on JNJ stock is a Moderate Buy. This consensus is based on 6 analyst ratings made in the past 3 months. Johnson & Johnson’s average price target of $189.50 implies upside potential of 12.59% from current levels.

See our Earnings Calendar for a full list of this week’s earnings releases.

Bottom Line

An earnings beat can signify positive movement ahead for a stock’s price. Currently, JNJ price is $168.31, indicating a 5-day drop of -0.72%.

About Johnson & Johnson

Johnson & Johnson provides healthcare products across three segments: Consumer, Pharmaceutical, and Medical Devices. The Consumer segment includes products used in the baby care, oral care, beauty, over-the-counter pharmaceutical, women’s health, and wound care markets. The Pharmaceutical segment focuses on therapeutic areas such as immunology, infectious diseases ad vaccines, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension. The Medical Devices segment offers products used in the orthopedic, surgery, cardiovascular, diabetes care, and eye health fields. The company was founded by Robert Wood Johnson I, James Wood Johnson and Edward Mead Johnson Sr. in 1886 and is headquartered in New Brunswick, NJ..

Learn more about JNJ financials here

Click Here to Read the Full Original Article at TipRanks Financial Blog…