Johnson & Johnson's Q2 Expectations and Analyst Ratings Insights
Upcoming Earnings Announcement for Johnson & Johnson
Johnson & Johnson (NYSE: JNJ) is preparing to disclose its earnings results for the upcoming second quarter. Analysts are closely watching the anticipated report, which is expected to provide valuable insights into the company's financial health.
Expected Financial Performance
Analyst forecasts suggest that Johnson & Johnson will report earnings of approximately $2.68 per share for the quarter, which indicates a slight decline from the $2.82 reported in the previous year. However, revenue expectations are on the rise, with predictions estimating $22.86 billion this quarter, compared to $22.45 billion a year prior.
FDA Drug Application Update
Recently, Johnson & Johnson announced that it has submitted a supplemental new drug application to the FDA. This applies to CAPLYTA, indicating ongoing efforts to address mental health conditions like schizophrenia, based on extensive long-term studies on its safety and efficacy.
Stock Performance Overview
As of the last market close, shares of Johnson & Johnson rose by 0.9%, reaching $157.69. This indicates a steady interest from investors and reflects overall market trends in the healthcare sector.
Analyst Ratings and Price Target Adjustments
Investors often look to analysts for guidance on stock performance. Recently, leading analysts have provided varied opinions on Johnson & Johnson:
- Morgan Stanley's analyst Terence Flynn has maintained an Equal-Weight rating, raising the price target from $169 to $171.
- David Risinger from Leerink Partners downgraded the stock from Outperform to Market Perform, reducing the price target from $169 to $153.
- Barclays' Matt Miksic kept an Equal-Weight rating, revising the price target downward from $166 to $165.
- Outperform rating is retained by Raymond James analyst Jayson Bedford, who increased the price target from $162 to $164.
- B of A Securities’ Tim Anderson maintained a Neutral rating but cut the price target from $171 to $159.
Investment Considerations
Thinking about investing in JNJ stock? Analysts offer insights based on various factors including market conditions and company performance. It's always beneficial to stay informed about market trends and financial predictions before making investment decisions.
Frequently Asked Questions
What are the expected earnings for Johnson & Johnson in Q2?
Analysts anticipate earnings of around $2.68 per share for Johnson & Johnson in the second quarter.
How much revenue is Johnson & Johnson projected to generate?
Revenue is expected to hit approximately $22.86 billion for the quarter, reflecting growth compared to last year.
What recent FDA submissions has Johnson & Johnson made?
Johnson & Johnson submitted a supplemental new drug application for CAPLYTA to the FDA based on long-term safety and efficacy data.
How have analysts rated Johnson & Johnson's stock recently?
Analysts have offered various ratings, with some increasing their price targets while others have downgraded their ratings.
What is the recent stock performance of Johnson & Johnson?
Recently, Johnson & Johnson shares increased by 0.9% to close at $157.69, showing resilience in the market.
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