Johnson & Johnson's MedTech Challenges Loom Amid Chinese Market Pressures And Orthopedics Overhaul, Analysts Say
Portfolio Pulse from Vandana Singh
Johnson & Johnson (JNJ) reported a Q3 adjusted EPS of $2.42, beating expectations despite a 9% decline year-over-year. Sales rose 5.2% to $22.47 billion. The company updated its 2024 EPS guidance, factoring in the V-Wave acquisition. BofA Securities maintains a Neutral rating with a $170 price target, noting strong performance in oncology and potential challenges in the MedTech segment due to market pressures and litigation uncertainties.
October 16, 2024 | 6:31 pm
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Johnson & Johnson reported a Q3 adjusted EPS of $2.42, beating expectations despite a 9% decline year-over-year. Sales rose 5.2% to $22.47 billion. The company updated its 2024 EPS guidance, factoring in the V-Wave acquisition. BofA Securities maintains a Neutral rating with a $170 price target, noting strong performance in oncology and potential challenges in the MedTech segment due to market pressures and litigation uncertainties.
Johnson & Johnson's earnings beat expectations, which is positive, but the decline in EPS and challenges in the MedTech segment, along with litigation uncertainties, create a mixed outlook. The Neutral rating and price target from BofA suggest limited short-term upside.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100