Johnson & Johnson (JNJ) downgraded its leadership in 2022 on Tuesday and reduced its Covid vaccination vision - but JNJ's stock came to light.
In the first quarter, Johnson & Johnson's Covid vaccine generated $ 457 million in sales. But most sales happen internationally. Last year, those areas had not yet used a single J&J vaccine. And U.S. sales down in one quarter.
Now, Johnson & Johnson is changing their focus. There are dozens of Covid vaccines worldwide and the need is uncertain. The company has set its sights on Covid. Previously, J&J had targeted $ 3 billion to $ 3.5 billion in target sales. But the company has decided to look at its total sales for $ 1.1 billion.
In the morning markets in today’s stock market, JNJ stock rose 3% to close to 183.
JNJ Stock: Miss Sales Forecasts
All in all, the quarter is a mix of Johnson & Johnson. The company received $ 2.67 per share, excluding other items, from a $ 23.43 billion sale. Profits increased by 3.1% and beat analysts' call by $ 2.58. Sales increased by 5% but speculation remained at $ 23.62 billion.
The best growth, on a solid basis as reported, came from the J&J medical unit. Sales grew by 6.3% to $ 12.87 billion. During that time, sales within the medical device industry increased by 5.9% to $ 6.97 billion and consumer health care fell by 1.5% to $ 3.59 billion. J&J opens the latest business.
Third Bridge top analyst Mikaela Franceschina is optimistic about Johnson & Johnson's prospects. The spinoff should allow J&J to "invest excessively in the growing areas" in its pharmaceutical and medical equipment business, he said in a report to clients.
"With the company's plan to end their health business, the addition of new partnerships and a strong pipeline, the company must continue to see success despite any potential barriers to competition and supply chain problems," he said.
Remicade, Zytiga Sales Fall
However, Johnson & Johnson experienced "annoyance" in their pharmacy category, Franceschina said. Revenue from Remicade, an immunology drug, dropped by about 15% as more patients switched to less expensive biosimilars. In addition, sales of the Zytiga cancer drug and all J&J cardiovascular drugs have decreased.
But a few medtech sites saw a decline. Revenue from an orthopedic surgeon increased by 3.5% to $ 2.19 billion. Sales of its surgical and vision products increased by 2.6% and 9.8%.
"The company's medical equipment segment has improved from previous problems with the Covid-19, so it will be interesting to see how the segment continues to grow and how the company copes with the ongoing deficit," Franceschina said.
Annually, Johnson & Johnson reduced their altered appearance of salary by 25 cents in the middle. Now, the company expects $ 10.15- $ 10.35 per share, subject to analysts' call at $ 10.55.
J&J also sees $ 94.8 billion to $ 95.8 billion in sales, down $ 1.1 billion in the middle zone in its previous view. Analysts predict sales of $ 99.63 billion.
