Johnson & Johnson (JNJ.US) stock jumped to two-month high after the drug and consumer products company posted solid figures for third-quarter 2022 thanks to rising demand of its cancer drug Darzalex and Crohn's disease drug Stelara.
-
Company earned $2.55 a share, beating analysts’ estimates of $2.48 a share. Revenue of $23.8 billion also topped market projections of $23.4 billion. A year earlier, the company recorded a profit of $2.60 a share on sales of $23.3 billion.
-
Pharmaceutical sales rose 2.6% to $13.2 billion in Q3, topping forecasts of $12.89 billion. MedTech sales increased by 2.1% to $6.78 billion, and Consumer Health sales dropped 0.4% to $3.8 billion, still above Wall Street expectations of $3.72 billion. Sales of cancer drug Darzalex jumped 29.8% to $2.05 billion.
-
For 2022, the company narrowed its adjusted EPS guidance range to $10.02 to $10.07 from $10.00 to $10.10 but lowered its reported sales guidance to $93.0 billion to $93.5 billion from $93.3 billion to $94.3 billion.
-
Johnson & Johnson expects that inflation may ease next year but higher costs of products manufactured in 2022 could have a negative impact on 2023 results. Also stronger USD may lower 2023 adjusted earnings by between 40 cents and 45 cents.
-
“Our third quarter performance demonstrates our continued strength and resilience across all three of our businesses,” said Joaquin Duato, Chief Executive Officer. “Through the ongoing efforts of our teams around the world, we continue to navigate the dynamic macroeconomic environment and remain focused on delivering transformative healthcare solutions. Looking ahead, I remain confident in our business and ability to continue advancing our innovative portfolio and pipeline.”
According to the issued ratings of 16 analysts, the consensus rating for Johnson & Johnson (JNJ.US) stock is Moderate Buy based on the current 8 hold ratings, 1 moderate buy and 8 strong buy. Source: Barchart
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile app
Johnson & Johnson (JNJ.US) has a moderate P / E ttm ratio compared to its competitors. Source: Barchart
Johnson & Johnson (JNJ.US) stock broke above major resistance zone around $166.50, which is marked with 38.2% Fibonacci retracement of the upward wave launched in March 2020, upper limit of the 1:1 structure and downward trendline. Upbeat quarterly results provided more fuel for the rally and stock price is currently testing local resistance at $169.80, which is marked with previous price reactions. Source: xStaton5
The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.
