On Tuesday, Johnson & Johnson JNJ reported a third-quarter adjusted EPS of $2.42, down 9.0% year-over-year, beating the consensus of $2.21. The pharmaceutical big reported gross sales of $22.47 billion, up 5.2% yr over yr and beating the consensus of $22.16 billion.
Johnson & Johnson up to date the full-year 2024 adjusted operational EPS steering to replicate improved efficiency and the acquisition of V-Wave; the prices related to the acquisition greater than offset the development.
BofA Securities reiterates a Impartial ranking and a value goal of $170. The analyst initiatives the Oncology franchise will preserve robust efficiency subsequent yr, with Darzalex and Carvykti increasing their market share globally in first—and second-line+ remedies for a number of myeloma.
Additionally Learn: Johnson & Johnson Ends Section 2 Examine For Dengue Antiviral Amid R&D Reprioritization.
The analyst additionally anticipates a lift in Rybrevant gross sales for EGFR+ lung most cancers following the approval and launch of its subcutaneous formulation within the first half of 2025.
Moreover, Tremfya is predicted to publish over 20% year-over-year development, pushed by ongoing launches for inflammatory bowel illness.
In distinction, Stelara might quickly decline by round 25% as biosimilars enter the U.S. market in January 2025.
In the meantime, the MedTech phase will possible encounter challenges resulting from volume-based procurement pressures.
The result of the talc litigation stays unsure. U.S. courts will determine whether or not Johnson & Johnson can use chapter proceedings to resolve present and future claims.
Needham studies that whereas Johnson & Johnson noticed a slight slowdown in natural MedTech development in Q3 2024 in comparison with Q2, with gross sales falling about 2% under consensus, the analyst attributes this to particular firm elements.
These embrace the next publicity to the Chinese language market, the Orthopedics Transformation program, and aggressive pressures.
Administration additionally highlighted potential headwinds in This autumn 2024 resulting from latest hurricanes however expressed larger concern over the scarcity of IV options than the direct impression of the storms on procedures.
Total, the analyst views Johnson & Johnson’s efficiency as impartial for many of the med tech sector.
Worth Motion: JNJ inventory is up 0.15% at $164.34 on the final verify Wednesday.
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