Description
Johnson & Johnson managed to exceed analyst expectations in terms of revenue as well as earnings. It was a strong quarter for Johnson & Johnson, with market-leading performance and significant advances in their innovative Pharmaceutical and MedTech pipelines. The company reported solid sales and earnings growth in the second quarter of 2023, raising expectations for the year. Johnson & Johnson announced the successful initial public offering of Kenvue and their intention to split up Kenvue shares through an exchange offer as the next step in its separation. Johnson & Johnson’s management also highlighted various achievements and upcoming catalysts across its business segments, including MedTech’s robust growth, Electrophysiology highlights, and strong enrollment in clinical trials. In Pharmaceuticals, the company delivered above-market operational growth and achieved important regulatory and operational milestones, showcasing promising developments in its pipeline. We give Johnson & Johnson an ‘Underperform’ 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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