PREVIEW: Johnson & Johnson shares rise ahead of quarterly results

Shockwave Medical

15/04/2024 17:53

** Shares in Johnson & Johnson  JNJ.N  rise 0.6% to $148.38 on
Mon ahead of its quarterly results, which will be released
before market open on Tues
    ** JNJ is expected to report adj EPS of $2.64, down 1.54%
from $2.68 a year earlier, and rev of $21.40 bln - which would
be down 13.5% from $24.75 bln, according to LSEG data
    ** Over the last 8 quarters, JNJ has met or beat Wall Street
expectations on EPS every time, while its rev has beat analyst
estimates 6 times
    ** Wall Street will be awaiting more details from JNJ after
it struck two mega deals this year: a $12.5 bln acquisition of
medical device maker Shockwave Medical  SWAV.O  and a $2 bln
deal to acquire drug developer Ambrx Biopharma  AMAM.O  
    ** Median PT of the 23 analysts covering JNJ is $175 and
their avg rating is "BUY", and the breakdown of recommendations
are 10 "strong buy" or "buy," 13 "hold" and no "sell" or "strong
sell"
    ** JNJ options imply a 2.6% swing for the shares, in either
direction, by Friday; that's higher than the stock's avg move,
on the day of results, of 2.0%, over the last eight qtrs,
according to Trade Alert
    ** JNJ is down ~5% YTD vs a 2.3% gain in the S&P 500
Healthcare index  .SPXHC  and a 0.8% gain in the Dow Industrial
average  .DJI 

 (Reporting by Chibuike Oguh in New York; additional reporting
by Saqib Ahmed in New York)
 ((Chibuike.Oguh@thomsonreuters.com; +332-219-1834; Reuters
Messaging: chibuike.oguh.thomsonreuters.com@reuters.net))