Johnson & Johnson (NYSE: JNJ) reported first-quarter 2017 results before markets opened on Tuesday. The health care giant reported adjusted diluted earnings per share (EPS) of $1.83 on revenue of $17.8 billion. In the same period a year ago, it reported EPS of $1.73 on revenue of $17.48 billion. First-quarter results also compare to the consensus estimates for EPS of $1.77 on revenue of $18.03 billion.

The company is now including the estimated impact of the Actelion acquisition in its financial guidance. As such, Johnson & Johnson increased its sales guidance for the full year 2017 from a prior range of $74.1 billion to $74.8 billion to a new range of $75.4 billion to $76.1 billion. Additionally, the company increased its adjusted earnings guidance for full year from a prior range of $6.93 to $7.08 to a new range of $7.00 to $7.15 per share.

Consensus estimates call for fiscal year 2017 EPS of $7.05 on revenues of $74.73 billion. For the second quarter, analysts are looking for EPS of $1.80 on revenues of $19.05 billion.

CEO Alex Gorsky said:

Johnson & Johnson’s first-quarter results are in line with our expectations and we are confident we will achieve the full-year financial guidance we established at the beginning of the year. The pending acquisition of Actelion demonstrates our ongoing commitment to bringing innovation to patients with significant unmet needs, and provides a unique opportunity for us to expand our portfolio with leading, differentiated in-market medicines and promising late-stage products.

Consumer sales totaled $3.2 billion in the first quarter, an increase of 1% year over year. Pharmaceutical sales totaled $8.2 billion, up 0.8%, and medical device sales rose 3% to $6.3 billion.

Shares closed at $125.72 on Monday and traded down about 2.5% early at $122.56. The stock’s 52-week range is $109.32 to $129.00. The 12-month consensus analyst price target was $129.69 before the results were announced.

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