When Johnson & Johnson (NYSE: JNJ) reported its most recent quarterly results before the markets opened on Tuesday, the pharmaceutical giant said it had $2.12 in earnings per share (EPS) and $20.73 billion in revenue for its third quarter. The consensus estimates had called for $2.01 in EPS and $20.07 billion in revenue. In the same period of last year, it posted EPS of $2.05 on $20.35 billion in revenue.

Consumer worldwide operational sales, excluding the net impact of acquisitions and divestitures, grew 1.3% driven by Neutrogena beauty products and over-the-counter products, including Tylenol analgesics, international upper respiratory products and digestive health products, partially offset by lower sales of baby care products due to prior year U.S. relaunch activities.

Pharmaceutical worldwide operational sales grew 6.4%, driven by strong performance across its portfolio.

Worldwide Medical Devices operational sales, excluding the net impact of acquisitions and divestitures, grew 5.3%, driven by the growth of electrophysiology products in the Interventional Solutions business, Acuvue contact lenses in the Vision business, international energy products in the Advanced Surgery business, wound closure products in the General Surgery business and trauma products in the Orthopaedics business.

In terms of guidance, Johnson & Johnson expects to see full-year EPS in the range of $8.62 to $8.67 and sales up about 4.5% to 5.0%. Consensus estimates call for $8.60 in EPS and $81.48 billion in revenue for 2019.

Alex Gorsky, board chair and chief executive, commented:

Our third-quarter results represent strong performance, driven by competitive underlying growth in Pharmaceuticals and Medical Devices, as well as continued optimization in our Consumer business. As we look ahead, we remain confident in the strength of our broad-based business model, which is fueled by our disciplined portfolio management, focus on transformational innovation and dedicated employees around the world who position us for success today and well into the future.

Shares of Johnson & Johnson traded up 2% to $133.36 Tuesday morning, in a 52-week range of $121.00 to $148.99. The consensus price target is $149.17.

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