Johnson & Johnson (NYSE: JNJ) released its second-quarter earnings report before the markets opened on Tuesday. As one of the largest health care companies on the market, it helps set a direction for the industry. So far in 2016, the company has seen good momentum through the first half, with the stock up over 20% year to date. Strength within its pharmaceutical segment helped push this company to new highs with this report.

The company said that it had $1.74 in earnings per share (EPS) on $18.5 billion in revenue. Thomson Reuters consensus estimates had called for $1.68 in EPS on revenue of $17.97 billion. In the same period of last year, the company posted EPS of $1.71 and $17.79 billion in revenue.

In terms of guidance for the full year, the company expects to have EPS in the range of $6.63 to $6.73 and sales in the range of $71.5 billion to $72.2 billion. The consensus estimates are $6.61 in EPS on $71.72 billion in revenue for the same period.

Worldwide Consumer sales totaled $3.4 billion for this quarter, which represented a decrease of 1.8% from last year, consisting of an operational increase of 1.5% and a negative impact from currency of 3.3%. Domestic sales increased 2.1%, while international sales decreased 4.4%, reflecting an operational increase of 1.0% and a negative currency impact of 5.4%.

During the quarter, Johnson & Johnson acquired NeoStrata, a global leader in dermocosmetics, and the HIPOGLÓS diaper rash cream brand in Brazil. Subsequent to the quarter, the company completed the Vogue acquisition for $3.3 billion in cash.

Alex Gorsky, chairman and CEO, commented:

We saw notable strength in our Pharmaceuticals business due to the continued success of new products, and also achieved significant clinical milestones, advancing our robust pipeline. In our Consumer business, we are executing strategic portfolio decisions to expand our market leadership in key segments, and in Medical Devices, we are continuing to accelerate our growth driven by new product launches and transforming our commercial models.

Shares closed Monday at $123.14, with a consensus analyst price target of $120.33 and a 52-week trading range of $81.79 to $124.30. Following the release of the earnings report, the stock was up 2.2% at $125.90 in early trading indications Tuesday.

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