Why Johnson & Johnson Shares Are Trading Higher Today
Johnson & Johnson (NYSE: JNJ) is trading higher Tuesday after the company announced better-than-expected third-quarter earnings results and raised guidance.
Johnson & Johnson reported quarterly adjusted earnings of $2.60 per share, which beat the estimate of $2.36 per share. The company reported quarterly revenue of $23.34 billion, which came in below the estimate of $23.74 billion.
Johnson & Johnson raised its full-year 2021 earnings guidance from a range of $9.60 to $9.70 per share to a range of $9.77 to $9.82 per share versus the estimate of $9.66 per share.
The company raised its full-year 2021 revenue guidance from a range of $93.8 billion to $94.6 billion to a range of $94.1 billion to $94.6 billion versus the estimate of $94.3 billion.
"Our third-quarter results demonstrate solid performance across Johnson & Johnson, driven by robust above-market results in Pharmaceuticals, ongoing recovery in Medical Devices, and strong growth in Consumer Health," said Alex Gorsky, chairman and CEO of Johnson & Johnson.
JNJ Price Action: Johnson & Johnson has traded as high as $179.92 and as low as $133.65 over a 52-week period.
The stock was up 2.83% at $164.65 at time of publication.
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