“ Johnson & Johnson delivered strong results in the second quarter,” said Joe Wolk, Executive Vice President and Chief Financial Officer, Johnson & Johnson. “We executed on our long-term business strategy by achieving important clinical and regulatory milestones in our Pharmaceuticals and Medical Technology businesses. These advances provide a strong foundation for the company’s long-term growth and reflect our dedication to delivering transformative treatments to patients and delivering long-term value to shareholders.”
Johnson & Johnson carries the aspiration to advance innovation to care for public health
Johnson & Johnson reported revenue growth of 6.3% to $25.5 billion in Q2 2023, with operating growth of 7.5%. Earnings per share (EPS) were $1.96, up 8.9%, and adjusted EPS was $2.80, up 8.1%. The company just announced a cash dividend of $1.19/share for Q3 2023. Listed share price: $172.94 (August 16, 2023). Ex-dividend date: August 25, 2023. Payment date: September 7, 2023. Yield: 13.76% with a margin of 1:20
Johnson & Johnson (NYSE:JNJ) ticks all the important boxes: dividend growth, high yield, solid and stable yield.
Johnson & Johnson reported second-quarter revenue and adjusted earnings that beat Wall Street expectations on July 20, 2023, as sales from the company's medical technology business surged.
The medical technology division provides devices for surgery, orthopedics and vision. The company is benefiting from a rebound in demand for non-urgent surgeries among older adults who had delayed such procedures during the COVID-19 pandemic.
Here's how J&J's results compared to Wall Street expectations, based on a survey of analysts by Refinitiv:Earnings per share: $2.80 adjusted, vs. $2.62 expected.Revenue: $25.53 billion, vs. $24.63 billion expected
Johnson & Johnson said second-quarter sales rose 6.3% from a year earlier. The pharmaceutical giant reported net income of $5.14 billion, or $1.96 per share. That compares with net income of $4.8 billion, or $1.80 per share, in the same period a year earlier.
The company now forecasts full-year revenue of $98.80 billion to $99.80 billion, about $1 billion higher than its April 2023 forecast. Johnson & Johnson raised its 2023 adjusted earnings outlook to $10.70 to $10.80 a share, from its previous forecast of $10.60 to $10.70 a share.
Johnson & Johnson Advances New Digital Healthcare Solutions
Johnson & Johnson has a market capitalization of $449.47 billion, a P/E ratio of 35.04, a price-to-earnings-growth ratio of 2.92, and a beta of 0.54. The healthcare stock has a 12-month low of $150.11 and a high of $181.04. The company has a 50-day simple moving average of $165.20 and a 200-day simple moving average of $161.17. Johnson & Johnson has a debt-to-equity ratio of 0.44, a current ratio of 1.12, and a quick ratio of 0.88.
Revenue for the company's medical devices business rose to $7.79 billion, up 12.9% from the second quarter of 2022. Johnson & Johnson said its December 2022 acquisition of Abiomed, a cardiovascular medical technology company, helped fuel that growth.
“Johnson & Johnson’s strong performance in the second quarter and first half of 2023 is a testament to the hard work and commitment of our colleagues around the world ,” said Joaquin Duato, Chairman of the Board and Chief Executive Officer. “We continue to focus on pharmaceutical and MedTech innovation.”
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