Johnson & Johnson (NYSE:JNJ) Gains on Impressive Q3 Results
Market News

Johnson & Johnson (NYSE:JNJ) Gains on Impressive Q3 Results

Story Highlights

Johnson & Johnson gained in trading on Tuesday after announcing impressive Q3 results.

Shares of Johnson & Johnson (NYSE:JNJ) gained in pre-market trading after the healthcare company reported earnings for its third quarter of FY23. The company’s earnings came in at $2.66 per share, up by 19.3% year-over-year which beat analysts’ consensus estimate of $2.52 per share.

Sales increased by 6.8% year-over-year to $21.4 billion as compared to analysts’ expectations of $21.04 billion.

JNJ recognized a one-time, non-cash gain of around $21 billion in the third quarter as part of discontinued operations related to the separation of its Consumer Health business.

Looking forward, management now expects FY23 adjusted sales to clock between $84.4 billion and $84.8 billion while adjusted earnings are anticipated to range from $10.07 to $10.13 per share. For reference, analysts had forecast earnings of $10.03 per share on revenues of $84.5 billion.

Is JNJ a Good Stock to Buy Now?

Overall, analysts are cautiously optimistic about JNJ stock with a Moderate Buy consensus rating based on five Buys and 10 Holds. The average JNJ price target of $177.45 implies an upside potential of 12.6% at current levels.


Price Change
S&P 500
Dow Jones
Nasdaq 100

Popular Articles