Shares of healthcare major Johnson & Johnson (NYSE:JNJ) are in focus today after the company announced key long-term goals and its financial outlook ahead of a meeting with investors at the New York Stock Exchange.
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JNJ expects sales between 2025 and 2030 to increase at a compound annual growth rate (CAGR) of 5% to 7%. During this time horizon, sales from Innovative Medicines are seen increasing by 5% to 7% as well. Importantly, the company expects over 20 novel therapies and more than 50 product expansions in its Innovative Medicine pipeline by 2030. Moreover, over 10 of these assets have the potential for more than $5 billion in peak-year sales.
Additionally, focusing on interventional cardiovascular, robotics, and digital markets is expected to result in about one-third of MedTech sales coming from new products in 2027. After its recent acquisition of Laminar, JNJ expects EPS for Fiscal Year 2024 to be in the range of $10.55 to $10.75.
Is JNJ Stock a Buy, Sell, or Hold?
Johnson & Johnson’s shares have gained nearly 5% over the past month. In the meantime, the Street has a Moderate Buy consensus rating on the stock, and the average JNJ price target of $177.45 implies a further 11.7% potential upside.
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