|Bid||148.29 x 1000|
|Ask||148.32 x 800|
|Day's Range||147.93 - 148.95|
|52 Week Range||126.10 - 150.17|
|Beta (5Y Monthly)||0.71|
|PE Ratio (TTM)||28.29|
|Earnings Date||Apr 13, 2020|
|Forward Dividend & Yield||3.80 (2.56%)|
|Ex-Dividend Date||Feb 23, 2020|
|1y Target Est||160.81|
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Shares of Johnson & Johnson stock dipped Wednesday after the Dow Jones health care giant beat Wall Street's fourth-quarter adjusted earnings expectations, but revenue came in short.
The S&P 500 and Nasdaq hit record highs on Wednesday as a strong forecast from IBM added to optimism over corporate earnings, while investors assessed risks from a virus outbreak in China. International Business Machines Corp shares jumped 3.4% after it forecast full-year profit above market expectations on strength in its high-margin cloud computing business. Technology stocks, which have played a big role in Wall Street's recent record run, rose 0.9%, with chip stocks gaining after a strong forecast from Dutch semiconductor equipment maker ASML Holding NV.
Company saw a considerable decline in legal expenses during the quarter as compared to the year-ago period Continue reading...
(Bloomberg) -- Johnson & Johnson posted weaker-than-expected sales in the final quarter of 2019, raising the stakes for the health-care conglomerate as it banks on new cancer and immunology drugs to replace a group of aging blockbusters.Some of the company’s most lucrative medicines are facing competition from generics and biosimilars. Arthritis drug Remicade’s sales fell more than 16% from a year earlier in the quarter, while Zytiga, an older treatment for prostate cancer, saw a nearly 14% decline.At the same time, J&J’s storied consumer businesses are also being pressed by upstarts. Sales of its baby-care products declined more than 26% in the U.S. as consumers increasingly look for alternatives to the company’s shampoos, lotions and other one-time medicine-cabinet staples.As the company adapts to those changes, it also is confronting increasing political blowback over high drug prices, trade turbulence and a series of lawsuits tied to a range of its products, from opioids to baby powder.“We face a variety of challenges from debates about the health-care system in our country to uncertainty with global trade to today’s litigious environment, to name a few,” said Chief Executive Officer Alex Gorsky on a conference call with investors Wednesday.Overall, the New Brunswick, New Jersey-based company reported fourth-quarter revenue of $20.75 billion, just short of the $20.87 billion analysts had expected.J&J shares declined 0.9% to $147.93 at 10:47 a.m. in New York on Wednesday. They had advanced 16% in the past 12 months through Tuesday’s close.Income DriverIn the year ahead, J&J is likely to draw much of its growth from sales of cancer and immunology drugs. For 2020, adjusted earnings per share are expected to be $8.95 to $9.10. Heading into Wednesday’s results, Wall Street analysts had expected $9.09, on average.Indeed, such drugs were already a bright spot in the fourth quarter. Sales of Stelara, a treatment for psoriasis, jumped 18% to $1.7 billion. Cancer drug Darzalex brought in $830 million in the quarter, up 42% from a year ago.“Darzalex is transforming the field of multiple myeloma right now,” Jan G. J. van de Winkel, the CEO of Danish biotech Genmab, which collaborated with J&J’s Janssen unit to develop Darzalex, said in an interview last week. “It’s a substantial income driver that any company would be happy about.”Chief Financial Officer Joseph Wolk said J&J is focused on highlighting such best-in-class assets, while potentially shedding those that are growing more slowly.“We continually look and manage our portfolio in a very rigorous fashion, making sure that we are the best owners of the assets that we have on that,” he said on Wednesday. “That works both ways. So we look to complement our portfolio, but we’ll also look to take underperforming businesses and create value for shareholders in other ways.”Other HeadwindsGorsky told investors on Wednesday he was “extremely proud overall with the performance of our pharmaceutical group,” but was particularly impressed with the immunology vertical’s ability to mitigate biosimilar impact on Remicade.“Despite the mixed results” this quarter, Cantor Fitzgerald analyst Louise Chen said she would continue to recommend J&J “as one of our top ideas in 2020.” Chen has an overweight rating on the stock.Concerns about the company’s legal exposure have cast a shadow over its shares at times. J&J has been fighting more than 100,000 suits alleging injuries and illnesses caused by its baby powder, opioid painkillers and other products, though it’s scored a few wins in the courtroom of late.The company had about $5.1 billion in litigation expenses in 2019, it said Wednesday, including a $4 billion charge associated with a proposed deal to resolve all claims accusing the company of helping fuel the U.S. opioid epidemic. A final agreement has yet to be reached.\--With assistance from Jef Feeley.To contact the reporter on this story: Riley Griffin in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Drew Armstrong at email@example.com, Timothy Annett, Mark SchoifetFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Shares of the healthcare conglomerate fell nearly 2% to $146.62 after it reported a rare miss on quarterly revenue, as sales of cancer drug Imbruvica and psoriasis treatment Stelara came in below lofty Wall Street estimates. J&J's pharmaceuticals unit, which makes up half of the company's overall sales, has powered much of its recent growth.
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Johnson & Johnson on Wednesday posted a rare miss on revenue, marking the first time in at least eight quarters that the healthcare giant fell short on sales expectations. While sales did rise to $20.75 billion for the quarter, analysts were looking for $20.8 billion. But intense competition for key drugs like Zytiga, a prostate cancer drug, coupled with pressure on prescription drug prices in the U.S, have weighed on J&J's pharmaceuticals unit... ...which makes up half of the company's overall sales and has powered much of the company's recent growth. While revenue at the unit rose to $10.55 billion, is still missed Wall Street expectations. Shares of the healthcare giant - which were trading at a record high - fell after it reported.