Johnson & Johnson's Strategic Forecast: Targets 5%-6% Operational Sales Growth For FY24
Portfolio Pulse from Nabaparna Bhattacharya
Johnson & Johnson (NYSE:JNJ) anticipates 5%-6% operational sales growth for FY24, with adjusted operational EPS growth of 7.3% at the midpoint ($10.55-$10.75). The guidance includes a $0.15 dilutive impact from the Laminar, Inc. acquisition. JNJ's Innovative Medicine business aims for over 20 novel therapies and 50 product expansions by 2030, forecasting 5%-7% sales growth from 2025-2030. The MedTech business expects one-third of sales from new products by 2027. Strong demand is expected for cancer treatments Darzalex and Carvykti, and psoriasis drug Stelara. JNJ's stock is down 0.25% to $158.49.
December 05, 2023 | 7:12 pm
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Johnson & Johnson expects 5%-6% operational sales growth for FY24 and adjusted operational EPS growth of 7.3% at the midpoint. The guidance includes a $0.15 dilutive impact from the Laminar, Inc. acquisition. The company's Innovative Medicine and MedTech businesses are expected to drive growth, with strong demand for key treatments.
The positive growth forecast for FY24 and the strong outlook for the Innovative Medicine and MedTech businesses are likely to be viewed favorably by investors. However, the slight stock price decline indicates a cautious market reaction, possibly due to the dilutive impact of the Laminar acquisition or other market factors not mentioned in the article.
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