Description
Johnson & Johnson reported strong operational performance in the quarter, demonstrating the power and adaptability of Johnson & Johnson as well as its dedication to enhancing global health outcomes. The company delivered an all-around beat and the management remains committed to successfully separating its Consumer Health company, Kenvue, which will enable the companies to be more agile, persistent, and competitive. They also anticipate a number of pipeline advances in 2023 that will boost confidence in their Pharmaceutical and MedTech companies. Their Pharmaceutical division performed well in the first quarter. In Q1, Johnson & Johnson disclosed that CARVYKTI accomplished its primary endpoint in the CARTITUDE-4 report, a Phase III trial in multiple myeloma patients with one to three prior lines of therapy. Furthermore, their business partners at Protagonist Therapeutics released encouraging top-line results from the Phase IIb Frontier 1 study of their oral IL-23 in patients with moderate to severe plaque psoriasis. MedTech also had a great sales growth quarter. In addition, the company completed the first procedures in the European Smartfire clinical study. Johnson & Johnson remains confident in its ability to generate near-term success, long-term growth, and shareholder value creation in the future. We give Johnson & Johnson a ‘Hold’ rating with a revised target price.
Our Report Structure:
⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures
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