JHVEPhoto I initiated a “Buy” rating for Johnson & Johnson (NYSE:JNJ) in January 2024, highlighting its balanced growth between MedTech and medicine business. The company released its Q2 FY24 results on July 17th, beating the market estimates for both the top line and bottom line. I am encouraged by the company’s strong product pipeline, and the recent acquisition of Shockwave Medical. I reiterate a “Buy” rating with a fair value of $190 per share. Robust Product Pipeline Johnson & Johnson delivered 6. ...

Johnson & Johnson’s (JNJ) second-quarter 2024 earnings came in at $2.82 per share, which beat the Zacks Consensus Estimate of $2.71. Earnings rose 10.2% from the year-ago period.Adjusted earnings exclude intangible amortization and some other special items. Including these items, J&J reported second-quarter earnings of $1.93 per share, down 5.9% year over year.Sales of this drug and medical devices giant came in at $22.45 billion, which beat the Zacks Consensus Estimate of $22.38 billion. Sales rose 4.3% fr ...

Financial Data and Key Metrics Changes - Worldwide sales for Q2 2024 were $22.4 billion, an increase of 6.6% year-over-year, with U.S. growth at 7.8% and international growth at 5.1% [8] - Net earnings for the quarter were $4.7 billion, with diluted earnings per share at $1.93, down from $2.05 a year ago. Adjusted net earnings were $6.8 billion, with adjusted diluted earnings per share at $2.82, representing increases of 1.6% and 10.2% respectively compared to Q2 2023 [8][19] Business Line Data and Key Metrics Changes - Innovative Medicine sales reached $14.5 billion, up 7.8%, with U.S. growth at 8.9% and international growth at 6.4%. Excluding the COVID-19 vaccine, operational sales growth was 8.8% worldwide [9] - MedTech sales were $8 billion, increasing by 4.4%, with U.S. growth at 5.7% and international growth at 3.2% [13] Market Data and Key Metrics Changes - Sales growth in Europe, excluding the COVID-19 vaccine, was 6% [8] - The cardiovascular segment in MedTech saw double-digit growth of 13.4%, driven by global procedure growth and new product uptake [13] Company Strategy and Development Direction - The company is focused on advancing its pipeline and launching new products, particularly in oncology and immunology, with significant clinical and regulatory milestones expected [20][22] - Strategic acquisitions, such as Shockwave Medical, are aimed at enhancing the MedTech portfolio and entering higher growth markets [23][30] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving sustainable growth through innovative products and a strong pipeline, despite anticipated challenges from biosimilars entering the market [37][39] - The company expects MedTech growth to accelerate in the second half of the year, driven by recovery in contact lenses and new product launches [35][39] Other Important Information - The company has committed to pay approximately $6.5 billion to ovarian claimants over 25 years, resolving 99.75% of pending talc lawsuits [27][28] - The effective tax rate for the quarter was 18.5%, up from 14.7% in the same period last year, primarily due to unfavorable one-time international audit settlements [18] Q&A Session Summary Question: Insights on RYBREVANT's market potential - Management highlighted the significant unmet need in frontline non-small cell lung cancer and expressed confidence in RYBREVANT's potential to capture market share due to strong data and subcutaneous dosing advantages [42][44] Question: MedTech growth expectations - Management acknowledged a tougher Q2 for MedTech but remains committed to delivering solid growth, with expectations for recovery in Vision and Surgery segments in the second half of the year [46][49] Question: Phase III nipocalimab data comparison - Management expressed excitement about nipocalimab's sustained disease control and its potential as the first advanced therapy for Sjogren's disease, highlighting its unique dosing regimen [53][55] Question: Impact of competitive PFA systems on EP growth - Management noted that while competition exists, they expect to maintain leadership in the electrophysiology market, emphasizing the safety and efficacy of their existing RF technology alongside new PFA offerings [56][58] Question: IRA negotiation impacts - Management indicated confidence that DARZALEX FASPRO will be treated separately from DARZALEX IV and acknowledged a net unfavorable impact from IRA negotiations but maintained growth expectations for 2025 [62][63]

About this content About Oliver Haill Oliver has been writing about companies and markets since the early 2000s, cutting his teeth as a financial journalist at Growth Company Investor with a focusing on AIM companies and small caps, before a few years later becoming a section editor and then head of research. He joined Proactive after a couple of years freelancing, where he worked for the Financial Times Group, ITV, Press Association, Reuters sports desk, the London Olympic News Service, Rugby World Cup ...

Johnson & Johnson TodayJNJJohnson & Johnson$155.63 +4.62 (+3.06%) 52-Week Range$143.13▼$175.97Dividend Yield3.19%P/E Ratio9.70Price Target$174.07Add to WatchlistJohnson & Johnson NYSE: JNJ has struggled for the last year or two as the impacts of COVID-19 and the spin-off of Kenvue NYSE: KVUE work their way through the system. The takeaway from the Q2 earnings release is that organic growth is back in the picture. Reported revenue is down compared to last year because of the Kenvue spin-off. Still, the shift ...

Johnson & Johnson (JNJ) reported $22.45 billion in revenue for the quarter ended June 2024, representing a year-over-year decline of 12.1%. EPS of $2.82 for the same period compares to $2.80 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $22.35 billion, representing a surprise of +0.43%. The company delivered an EPS surprise of +4.06%, with the consensus EPS estimate being $2.71.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall ...

Key TakeawaysJohnson & Johnson on Wednesday reported second-quarter earnings with sales topping estimates.However, profits fell short of projections thanks to one-time costs like legal fees and asset amortization.The company lifted its full-year sales guidance, while also lowering profit estimates. Johnson & Johnson (JNJ) reported mixed second-quarter results Wednesday, as one-time costs caused the company to miss profit estimates despite better-than-expected sales. Sales of the company's pharmaceuticals an ...

2nd Quarter 2024 Results¹ 2nd Quarter 2024 Sales Worldwide increased ▲ Excluding acquisitions / divestitures on an operational basis Worldwide increased ▲ Diluted earnings per share Adjusted diluted earnings per share* Increased ▲ 10.2% Joaquin Duato Chairman & Chief Executive Officer Johnson & Johnson 66 Johnson & Johnson's second quarter performance reflects our relentless focus on advancing the next wave of medical innovation and resulted in strong sales and adjusted operational earnings per share growth ...

Johnson & Johnson (JNJ) came out with quarterly earnings of $2.82 per share, beating the Zacks Consensus Estimate of $2.71 per share. This compares to earnings of $2.80 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 4.06%. A quarter ago, it was expected that this world's biggest maker of health care products would post earnings of $2.64 per share when it actually produced earnings of $2.71, delivering a surprise of 2.65%.Over ...

Exhibit 99.2 Johnson & Johnson and subsidiaries Supplementary sales data (Unaudited; Dollars in Millions) SECOND QUARTER Percent Change | --- | --- | --- | --- | --- | --- | |---------------------------------------|---------|--------|-------|------------|----------| | Sales to customers by geographic area | 2024 | 2023 | Total | Operations | Currency | | U.S. | $12,569 | 11,657 | 7.8 % | 7.8 | — | | Europe | 5,214 | 5,131 | 1.6 | 3.4 | (1.8) | | Western Hemisphere excluding U.S. | 1,212 | 1,136 | 6.7 | 22.6 ...