Second-quarter results suggest the spinoff of the company's slow-growing consumer goods segment is having the intended effect. On July 17, Johnson & Johnson (JNJ 3.69%) announced second-quarter results that gave investors a lot to look forward to. Integration of newly acquired medical technology plus upcoming expansions of patentprotected medicines will help push the healthcare conglomerate's needle forward for years to come. Johnson & Johnson is made of many pieces that aren't moving in the same direction. ...

The company did a fine job of boosting sales of numerous drugs.A double beat in its latest quarter made Johnson & Johnson (JNJ 3.69%) stock a popular item on Wednesday. The encouraging (if not spectacular) results pushed the storied healthcare company's share price up by almost 4%, which contrasted positively with the 1.4% slide of the S&P 500 index on the day.Solid growth, particularly in the No. 1 categoryJohnson & Johnson revealed that its second-quarter sales came in at slightly over $22.4 billion, repr ...

Johnson & Johnson’s (J&J) MedTech arm displayed resilience in its second quarter, navigating inflationary headwinds while prioritizing innovation. The unit, a key driver for J&J, remains committed to full-year growth targets despite temporary setbacks in its vision care business.Challenges arose from distributor adjustments in the contact lens market, leading to destocking. J&J officials expressed confidence in a swift recovery fueled by its innovation pipeline. This focus on innovative solutions propelled ...

文章核心观点 - 公司在Q2 FY24财报中表现出色,收入和利润均超出市场预期 [4] - 公司拥有强大的新产品管线,包括TREMFYA、RYBREVANT和VARIPULSE等,有望带来可观的收入增长 [6][7] - 公司收购Shockwave Medical,有望成为心血管市场的领导者,并产生可观的协同效应 [8][9] 公司业务表现 - 公司Q2 FY24收入同比增长6.5%,调整后每股收益增长10.2% [5] - 医药业务增长强劲,带动了整体业绩表现 [5][10] - 医疗器械业务增长5%,与整体市场增速持平 [10] - 公司维持了全年收入指引,但由于收购Shockwave Medical等因素调低了每股收益指引 [10] 未来发展前景 - 公司新产品管线丰富,有望带来可观的收入增长 [6][7] - 收购Shockwave Medical有助于公司在心血管市场的地位 [8][9] - 公司预计未来几年可实现6%的有机收入增长,并通过并购等方式带来额外的增长动力 [11] - 公司有望通过产品发布、成本管控等实现营业利润率的提升 [11] 估值分析 - 公司股票回购力度加大,有助于每股收益的提升 [11] - 基于公司未来几年的收入增长和利润率提升预期,公司的合理估值为每股190美元 [12][13][14][15][16] 风险提示 - 公司的传染病业务受疫苗需求下降影响,短期内增长面临挑战 [17] - 公司在中国市场的表现受到国内经济增长放缓的影响 [18]

Johnson & Johnson’s (JNJ) second-quarter 2024 earnings came in at $2.82 per share, which beat the Zacks Consensus Estimate of $2.71. Earnings rose 10.2% from the year-ago period.Adjusted earnings exclude intangible amortization and some other special items. Including these items, J&J reported second-quarter earnings of $1.93 per share, down 5.9% year over year.Sales of this drug and medical devices giant came in at $22.45 billion, which beat the Zacks Consensus Estimate of $22.38 billion. Sales rose 4.3% fr ...

财务数据和关键指标变化 - 全球销售额为224亿美元,增长6.6%,其中美国增长7.8%,海外增长5.1% [10] - 剔除新冠疫苗影响,全球销售增长7.2%,海外增长6.4% [10] - 净收益47亿美元,每股摊薄收益1.93美元,上年同期为2.05美元 [11] - 剔除无形资产摊销和特殊项目,调整后净收益68亿美元,每股调整后摊薄收益2.82美元,分别增长1.6%和10.2% [11] 各条业务线数据和关键指标变化 创新药业务 - 全球创新药业务销售额145亿美元,增长7.8%,其中美国增长8.9%,海外增长6.4% [12] - 剔除新冠疫苗影响,全球和海外创新药业务增长分别为8.8%和8.7% [12] - DARZALEX增长21.3%,主要得益于全线治疗领域市场份额提升4.6个百分点,一线治疗领域提升9.4个百分点,以及市场整体增长 [13] - CARVYKTI销售1.86亿美元,增长59.9%,得益于产能扩张、制造效率提升和强劲需求 [13] - TECVAYLI销售1.35亿美元,增长43.5%,反映在复发难治性设置中的强劲发布 [13] - ERLEADA增长32.5%,主要得益于转移性去势抵抗性前列腺癌市场份额提升和市场整体增长 [14] - TREMFYA增长30.7%,得益于市场增长、银屑病和银屑病关节炎市场份额提升以及患者结构改善 [14] - STELARA增长4.9%,得益于市场增长,但被不利的患者结构所抵消 [15] - SPRAVATO增长60.8%,得益于医生和患者信心提升 [16] 医疗器械业务 - 全球医疗器械业务销售额80亿美元,增长4.4%,其中美国增长5.7%,海外增长3.2% [17] - 收购和剥离对销售增长有40个基点的正面影响 [17] - 心血管业务电生理学增长13.4%,得益于全球手术量增长、新产品渗透和商业执行 [18] - Abiomed增长15.4%,得益于全球各地区的双位数增长以及Impella 5.5和Impella RP技术的持续强劲采用 [18] - 隐形眼镜业务剔除Blink剥离的调整后经营销售增长2.1%,得益于ACUVUE OASYS 1-Day系列产品的强劲表现,但被美国经销商库存动态和竞争压力以及日本宏观经济压力所抵消 [19][20] - 手术视觉增长1.2%,得益于TECNIS Eyhance单焦点人工晶体,但被中国VBP和美国折射软弱所抵消 [21] - 外科手术业务剔除Acclarent剥离的调整后经营销售基本持平,得益于新产品的强劲表现,但被能量和内切割器的竞争压力、中国VBP、去年中国复苏、EMEA定标时间以及供应限制所抵消 [21] - 骨科增长3.3%,得益于髋关节和膝关节的强劲表现,由于手术量增长、新产品优势和EMEA膝关节定标时间,但被脊柱和运动竞争压力和中国VBP影响所抵消 [22] 各个市场数据和关键指标变化 - 美国销售增长7.8% - 海外销售增长5.1%,剔除新冠疫苗影响增长6.4% [10] - 欧洲销售增长6%,剔除新冠疫苗影响 [10] - 中国市场受到VBP和反腐运动的短期负面影响,但公司仍然看好中国市场的长期发展前景 [113][114][115] 公司战略和发展方向及行业竞争 - 创新药业务连续13年实现高于市场的增长,得益于创新的首创和最佳在类药品组合 [63] - 即将获批的RYBREVANT联合Lazertinib一线治疗EGFR阳性非小细胞肺癌和TREMFYA获批用于炎症性肠病将推动未来持续增长 [64][65] - 医疗器械业务通过新产品推出、商业执行和战略收购进入高增长细分市场,如心血管和骨科,有望实现加速增长 [67] - 公司在研发、创新和并购方面持续投入,为未来可持续增长奠定基础 [47][48] 管理层对经营环境和未来前景的评论 - 创新药业务有望保持强劲增长势头,多个5亿美元以上峰值销售产品即将获批上市 [63][64][65] - 医疗器械业务在第二季度表现低于预期,但有信心在下半年加速增长,达到5%-7%的目标市场增速 [30][31][59] - 公司有能力应对各种挑战,包括STELARA专利到期、IRA价格谈判等,维持3%以上的2025年增长和5%-7%的中长期增长目标 [97][98][108][109] - 公司在研发、创新和并购方面持续投入,为未来可持续增长奠定基础 [47][48][61] 其他重要信息 - 完成收购Shockwave、Proteologix和NM26生物特异性抗体交易 [48] - 就止血石棉诉讼达成和解,支付约65亿美元解决99.75%的美国诉讼 [43][44] - 退出Kenvue剩余股权,完成消费者健康业务分拆 [46] - 预计2024年调整后每股收益10-10.10美元,增长8.2% [49][50] - 预计2024年销售增长4.7%-5.2%,达882亿美元 [54] 问答环节重要的提问和回答 问题1 **Chris Schott 提问** 对RYBREVANT的看好与市场预期存在差距,请解释RYBREVANT在一线治疗的数据

About this content About Oliver Haill Oliver has been writing about companies and markets since the early 2000s, cutting his teeth as a financial journalist at Growth Company Investor with a focusing on AIM companies and small caps, before a few years later becoming a section editor and then head of research. He joined Proactive after a couple of years freelancing, where he worked for the Financial Times Group, ITV, Press Association, Reuters sports desk, the London Olympic News Service, Rugby World Cup ...

Johnson & Johnson TodayJNJJohnson & Johnson$155.63 +4.62 (+3.06%) 52-Week Range$143.13▼$175.97Dividend Yield3.19%P/E Ratio9.70Price Target$174.07Add to WatchlistJohnson & Johnson NYSE: JNJ has struggled for the last year or two as the impacts of COVID-19 and the spin-off of Kenvue NYSE: KVUE work their way through the system. The takeaway from the Q2 earnings release is that organic growth is back in the picture. Reported revenue is down compared to last year because of the Kenvue spin-off. Still, the shift ...

Johnson & Johnson (JNJ) reported $22.45 billion in revenue for the quarter ended June 2024, representing a year-over-year decline of 12.1%. EPS of $2.82 for the same period compares to $2.80 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $22.35 billion, representing a surprise of +0.43%. The company delivered an EPS surprise of +4.06%, with the consensus EPS estimate being $2.71.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall ...

文章核心观点 - 公司第二季度销售额超出预期,但利润因一次性成本而低于预期 [1][2][3][4] - 公司上调全年销售指引,但下调利润预测 [5][6] 销售情况 - 公司医药和医疗器械业务销售额同比增长4%,达到224.5亿美元,超出分析师预期的223.8亿美元 [3] - 公司净利润为46.9亿美元,低于分析师预期的56.6亿美元,但剔除一次性成本后调整后净利润为68.4亿美元,超出预期的65.9亿美元 [4] 全年指引 - 公司上调全年销售指引至892-896亿美元,高于之前的887-891亿美元 [6] - 但公司下调全年调整每股收益预测至9.97-10.07美元,低于之前的10.57-10.72美元 [6] - 分析师预测公司全年销售额为885.8亿美元,调整每股收益为10.42美元 [7]