The health care giant increased its EPS guidance for full-year 2015 to a range of $6.10 to $6.25. The consensus estimates are $6.14 in EPS on $70.56 billion in revenue.
During the quarter, the U.S. Food and Drug Administration (FDA) granted approval of Invega Trinza, an atypical antipsychotic injection administered four times a year for the treatment of schizophrenia. Also the European Commission approved Stelara for the treatment of adolescents with moderate to severe psoriasis, Simponi for treatment of non-radiographic axial spondyloarthritis and Imbruvica for the treatment of Waldenström’s macroglobulinemia.
At the same time, Johnson & Johnson announced back in March a binding offer from Cardinal Health to acquire its Cordis business for approximately $2 billion.
In terms of its segments, the company reported:
- Consumer segment had revenues of $3.48 billion.
- Pharmaceutical segment had revenues of $7.95 billion.
- Medical Devices segment had revenues of $6.36 billion.
ALSO READ: 4 Specialty Pharmaceutical Stocks Could Be the Next Takeover Candidates
Alex Gorsky, chairman and CEO of Johnson & Johnson, commented on earnings:
Our solid sales and earnings results in the quarter reflect the strong underlying growth we’re seeing across the enterprise. Our diverse portfolio and scale are enabling this performance, and we’ve continued to invest in building a robust enterprise pipeline that will drive our growth over the long term. Our passion to deliver transformational new medicines and products reflects the ongoing commitment of our dedicated employees to improve health and well-being.
Shares of Johnson & Johnson closed Monday up 0.7% at $100.27. Following the release of the earnings report Tuesday, shares were down 0.4% at $100.00 in early trading indications. The stock has a consensus analyst price target of $109.59 and a 52-week trading range of $95.10 to $109.49.
Top Gaining Stocks
Top Losing Stocks