Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

J&J Gains On Revising Guidance After Medical Devices Boost In Q2

Published 21/07/2021, 12:34
Updated 21/07/2021, 12:34
© Reuters.

© Reuters.

By Dhirendra Tripathi

Investing.com – Johnson & Johnson (NYSE:JNJ) stock was up 1.2% in Wednesday’s premarket trading as the company raised its full-year guidance for sales and earnings after a robust second quarter.

The company benefited a little from its COVID-19 vaccine and much more from its medical devices business, which boomed as hospitals resumed the medical procedures they had delayed during the pandemic.

The company’s consumer health business grew 10%, pharmaceutical operations 14% while medical devices rose 59%.

The company expects full-year sales of $93.8 billion to $94.6 billion including $2.5 billion-contribution from its COVID-19 vaccine. Discounting the COVID-19 jab, it still translates into growth of 10.5%-11.5%.

Overall annual adjusted diluted earnings per share are seen at $9.60-$9.70.

Second-quarter adjusted diluted EPS came at $2.48 on sales of $23.31 billion. Both numbers were higher than the estimated $2.29 and $22.5 billion, respectively.

The company’s forecast of $2.5 billion in revenue from sales of COVID-19 vaccines is in stark contrast to Pfizer 's (NYSE:PFE) estimation of $26 billion and Moderna 's (NASDAQ:MRNA) $19.2 billion. 

Both companies have said they expect to profit from their vaccines, while J&J has said it will make its shots available on a not-for-profit basis during the pandemic, according to Reuters.

 

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.