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Johnson & Johnson Q4 Earnings Coverage
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Johnson & Johnson (JNJ) Tops Q4 EPS by 2c; Guides Modestly Below the Street
Jan 24, 2017 | Street Insider
Johnson & Johnson (NYSE: JNJ) reported Q4 EPS of $1.58, $0.02 better than the analyst estimate of $1.56. Revenue for the quarter came in at $18.1 billion versus the consensus estimate of $18.28 billion. -
Johnson & Johnson Earnings Advance 8% In Q4
Jan 24, 2017 | RTT News
Johnson & Johnson (JNJ) announced a profit for its fourth quarter that increased from last year. -
Johnson & Johnson's stock drops after earnings beat but sales missed
Jan 24, 2017 | MarketWatch
By Tomi Kilgore
Shares of Johnson & Johnson JNJ, -0.21% slumped 1.7% in premarket trade Tuesday, after the consumer products and healthcare company beat fourth-quarter profit expectations buy fell short on sales. Earnings rose to $3.81 billion, or $1.38 a share, from $3.22 billion, or $1.15 a share, in the same period a year ago. -
BRIEF-Johnson & Johnson reports Q4 adj. earnings $1.58 per share
Jan 24, 2017 | Reuters
Johnson & Johnson reports 2016 fourth-quarter results: Q4 earnings per share $1.38 Q4 adjusted non-GAAP earnings per share $1.58 excluding items -
Johnson & Johnson Offers Weak Outlook, May Look To Sell Diabetes Units
Jan 24, 2017 | Stock News
Johnson & Johnson (NYSE:JNJ) early Tuesday posted mixed fourth quarter results, offered a tepid outlook, and said it would look to sell its diabetes treatment units. -
Johnson & Johnson (JNJ) Releases Earnings Results, Beats Expectations By $0.02 EPS
Jan 24, 2017 | Highland Mirror
By Melissa Rogers
Johnson & Johnson closed down -0.24 points or -0.21% at $113.91 with 7,989,760 shares getting traded on Monday. Post opening the session at $114.51, the shares hit an intraday low of $113.8 and an intraday high of $114.77 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red. -
(UPDATE-1) Johnson & Johnson Posts Rise in Revenue and Profit, Issues Cautious Forecast
Jan 24, 2017 | Wall Street Journal
By Austen Hufford
Johnson & Johnson posted revenue and profit increases for the fourth quarter, but the health-care company’s forecast for this year fell below Wall Street estimates. -
Price Target Review: JOHNSON & JOHNSON (NYSE:JNJ) , RESMED INC. (NYSE:RMD)
Jan 24, 2017 | WSNews 4 Investors
By Marry Johnson
Johnson & Johnson (NYSE:JNJ) initiated the shares trading at $114.51 and showed negative change of -0.21% while the stock’s final trade was registered at $ 113.91. However, its previous closing price was seen at $114.15. The stock negotiated total number of 7.99 million shares as compared to 3 months average volume of 7.07 million shares. -
Johnson & Johnson's Q4 sales boosted by new drugs; annual guidance comes in below estimates
Jan 24, 2017 | First Word Pharma
By Matthew Dennis
Johnson & Johnson announced Tuesday that fourth-quarter sales of prescription drugs rose 2.1 percent year-over-year to $8.2 billion, with growth driven by revenue from new products including Imbruvica, Darzalex and Xarelto. The company's overall sales in the three-month period lifted 1.7 percent to $18.1 billion, although the figure came in below analyst estimates of around $18.3 billion. -
Johnson & Johnson mulls ‘strategic options’ for diabetes business
Jan 24, 2017 | Mass Device
By Brad Perriello
Johnson & Johnson (NYSE:JNJ) said today that it’s mulling the proverbial “strategic options” for its diabetes business, including the LifeScan, Animas and Calibra Medical brands. -
Johnson & Johnson Beats Fourth-Quarter Earnings Estimate, Posts Lower 2017 Guidance
Jan 24, 2017 | The Street
By Martin Baccardax
Johnson & Johnson (JNJ) posted better-than-expected fourth-quarter earnings and reiterated its aim to look at strategic options for the company that could include mergers or asset sales amid lower 2017 forecasts. -
J&J (JNJ) Beats on Q4 Earnings, Sales Miss; Stock Down
Jan 24, 2017 | Zack's Equity Research
Johnson & Johnson (JNJ - Free Report) , the bellwether of healthcare companies, has a strong presence in the pharmaceutical, medical devices and consumer care markets across the world. This New Jersey-based company is well known for its baby-care products and brands like Tylenol in addition to drugs like Remicade and Concerta. -
J&J to explore sale of diabetes care business
Jan 24, 2017 | Financial Times
By David Crow
Johnson & Johnson, the world’s largest healthcare company, said it was exploring a sale of its diabetes care business as it announced fourth quarter earnings that were broadly in line with Wall Street estimates. -
Stocks Gainers/Losers Roundup- Johnson & Johnson (NYSE:JNJ), UDR, Inc. (NYSE:UDR), Time Inc. (NYSE:TIME)
Jan 24, 2017 | Seneca Globe
By Steve Hart
Johnson & Johnson (NYSE:JNJ) are dropping -0.21% to $113.91 with traded session volume was 7.3 Million. Johnson & Johnson (JNJ) will participate in the Leerink Partners 6th Annual Global Healthcare Conference on Thursday, Feb. 16, at Lotte New York Palace, NY. Joaquin Duato, Executive Vice President, Worldwide Chairman, Pharmaceuticals will represent the Company in a session slated at 10:00 a.m. (Eastern Time). As concerns of stock price volatility, it was 0.87% for a week and 0.96% for a month. -
Earnings Reaction History of Johnson & Johnson (NYSE:JNJ)
Jan 24, 2017 | Facts Reporter
By Mindy Sparks
Johnson & Johnson (NYSE:JNJ) moved down -0.21% and closed its last trading session at $113.91. This Medical Sector stock currently has the Market Capitalization of 310.03 Billion. The Average Volume for the stock is measured as 7.09 Million. The Stock has a 52-Week High of $126.07 and 52-Week Low of $97.14 following the dates, it touched its 52-Week High on Jul 20, 2016 and 52-Week Low on Jan 26, 2016. Currently, the Return on Assets value for the trailing twelve months is 11.6% with the Return on Equity and Return on Investment of 22.1% and 14.7% respectively. This firm currently has YTD (year to date) performance of -1.13 Percent which is not good. The Short Ratio for the stock is 2.86. -
Johnson & Johnson (JNJ) Earnings Beat, Revenue Miss Nasdaq
Jan 24, 2017 | Nasdaq
By Richard Saintvilus
Shares of Johnson & Johnson (JNJ) are trading almost 2% lower in Tuesday’s pre-market session after the healthcare conglomerate released mixed fourth quarter fiscal 2016 earnings results and beat on the bottom line, but missed on the top. But given the rate at which the company has moved to lower costs, that shouldn't’ have been much of surprise. -
Johnson & Johnson slumps despite 1.7% sales rise
Jan 24, 2017 | Digital Look
By Connor Coyle
Mammoth US healthcare company Johnson & Johnson reported a 1.7% rise in its sales during the final quarter of 2016, but its stock was trading 1.68% lower in pre-market trade. -
Johnson & Johnson (NYSE:JNJ)- Healthcare Stocks Rallying on Glossy Earnings: Amgen Inc. (NASDAQ:AMGN)
Jan 24, 2017 | Streetwise Report
By Richard Avery
Under investment valuation analysis, Johnson & Johnson (NYSE:JNJ) presented as an active mover, it has floated short ration of 0.75%, hold to candle to sentiment indicator of Short Ratio, which was 2.89. Shares eased down -0.21% to trade at $113.91 in most recent trading session. -
JNJ Sees Higher FY17 Results, But Below Market View; Q4 Earnings Top Estimates
Jan 24, 2017 | RTT News
Drug major Johnson & Johnson (JNJ) Tuesday said it expects higher earnings and sales for its fiscal 2017, which are below market estimates. The company also reported solid fourth-quarter results, with adjusted earnings above market estimates, while sales missed their view, despite a growth. -
(UPDATE-1) Johnson & Johnson's sales miss; seeks options for diabetes care unit
Jan 24, 2017 | Reuters
Johnson & Johnson (JNJ.N) reported a smaller-than-expected rise in fourth-quarter sales, hurt by slowing demand for its pharmaceutical products and a strong dollar, and said it was looking at strategic options for its diabetes care division. -
(UPDATE-3) Johnson & Johnson cautious in outlook, shops diabetes care
Jan 24, 2017 | Associated Press
By Tom Murphy
Johnson & Johnson edged above fourth-quarter profit expectations, helped by consumer goods and pharmaceutical growth, but the world's biggest health care products company also gave Wall Street a softer-than-expected 2017 earnings forecast. -
Johnson & Johnson Revenues, 2017 Outlook Weigh on Shares
Jan 24, 2017 | 24/7 Wall Street
By Paul Ausick
Johnson & Johnson (NYSE: JNJ) reported fourth-quarter and full-year 2016 results before markets opened Tuesday morning. The health care giant reported quarterly adjusted diluted earnings per share (EPS) of $1.58 on revenue of $18.1 billion. In the same period a year ago, it reported EPS of $1.44 on revenue of $17.81 billion. Fourth-quarter results also compare to the consensus estimates for EPS of $1.56 on revenue of $18.28 billion. -
Johnson & Johnson Earnings Beat, Revenue Miss
Jan 24, 2017 | The Financial
Johnson & Johnson on January 24 announced sales of $18.1 billion for the fourth quarter of 2016, an increase of 1.7% as compared to the fourth quarter of 2015. Operational sales results increased 2.3% and the negative impact of currency was 0.6%. -
Johnson & Johnson, Lockheed Martin Corporation Shares Fall After Weak Outlooks
Jan 24, 2017 | Value Walk
By Michelle Jones
Lockheed Martin and Johnson & Johnson released their latest earnings reports before opening bell this morning. Lockheed Margin reported adjusted earnings of $3.25 per share on $13.75 billion in revenue. Analysts had been expecting the defense contractor and airplane manufacturer to report $3.05 per share in earnings and $13.03 billion in revenue. In last year’s fourth quarter, the company reported $11.52 billion in revenue. -
J&J (JNJ) Q4 Earnings Top; Seeks Options for Diabetes Unit
Jan 24, 2017 | Zack's Equity Research
Johnson & Johnson (JNJ - Free Report) reported a rather mixed fourth quarter, with earnings beating expectations while sales missing the same. Moreover, the healthcare giant issued guidance for 2017 and announced that it is looking for strategic options for its diabetes care division. Shares declined around 1.7% in pre-market trading. -
Johnson & Johnson (NYSE:JNJ) Shares Declines -1.57% Tuesday’s Premarket
Jan 24, 2017 | Benchmark Monitor
Johnson & Johnson (NYSE:JNJ) reported Q4 EPS of $1.58, $0.02 better than the analyst estimate of $1.56. Revenue for the quarter came in at $18.1 billion versus the consensus estimate of $18.28 billion. -
Johnson & Johnson plans more price transparency; eyes U.S. tax, healthcare changes
Jan 24, 2017 | Reuters
By Bill Berkot
Johnson & Johnson's (JNJ.N) chief executive officer said on Tuesday that responsible drug pricing is a priority and discussed changes he would like to see on the U.S. tax code and healthcare policy, one day after meeting with President Donald Trump. -
(UPDATE-2) Johnson & Johnson CEO says some Obamacare provisions should be kept
Jan 24, 2017 | Bloomberg
By Jared S Hopkins
Johnson & Johnson Chief Executive Officer Alex Gorsky, the head of world's largest health-care company, called for keeping some provisions of Obamacare intact as President Donald Trump and Republicans move to repeal the law. -
Johnson & Johnson CFO Caruso: 'Pleased With the Results'
Jan 24, 2017 | The Street
By Giovanni Bruno
Shares of Johnson and Johnson (JNJ) were sinking Tuesday afternoon, after the company reported fiscal 2016 fourth quarter earnings results prior to Tuesday's open. -
Key J&J key meds disappoint in Q4, triggering a top-line miss
Jan 24, 2017 | FiercePharma
By Arlene Weintraub
Johnson & Johnson is facing a variety of strong headwinds across its business lines, from currency fluctuations to generic competition on some of its previous blockbusters. But perhaps more alarming to investors is that in Q4, its newer pharma products—including Invokana and Imbruvica—couldn't bail the company out. -
(UPDATE-1) The Street: Johnson & Johnson CEO Talks Trump, M&A After Mixed Earnings
Jan 24, 2017 | The Street
By Alicia McElhaney
Johnson & Johnson's (JNJ) shares are down 2% Tuesday at $111.50 after the company released mixed end-of-year earnings for fiscal year 2016. -
J&J earnings disappoint, with no word on Actelion deal
Jan 24, 2017 | BioPharma Dive
By Ned Pagliarulo
Johnson & Johnson will expand its disclosures on drug pricing and R&D expenses, sketching the outlines of a planned transparency report to be released later this year on a fourth-quarter earnings call with analysts Tuesday morning. -
J&J Needs a Fix for a Pharma Slowdown
Jan 24, 2017 | Bloomberg Gadfly
By Max Nisen
Anyone in biopharma hoping for Johnson & Johnson's fourth-quarter earnings to dispel their Trump-related gloom was disappointed Tuesday morning. -
Johnson & Johnson Takes A Hit After Mixed Q4 Report
Jan 24, 2017 | Benzinga
By Joel Elconin
Johnson & Johnson JNJ 2.1% shares are trading lower by $2.34 at $111.57 in Tuesday's session. -
3 ETFs to Buy If You're Impressed With Johnson & Johnson's Fourth Quarter
Jan 24, 2017 | The Street
By Chris Ciaccia
Johnson & Johnson's (JNJ) fourth-quarter results largely came in-line with Wall Street expectations, but investors were looking to see whether its Medical Devices unit can begin to provide growth in 2017. -
Johnson & Johnson: Tepid, Cautious, Weak and Other Words You Don’t Want to Hear After an Earnings Report
Jan 24, 2017 | Barron's
By Ben Levisohn
Last month, Barron’s Reshma Kapadia argued that Johnson & Johnson (JNJ) “deserves more respect from Wall Street.” There’s no way that will happen if Johnson & Johnson keeps offering guidance like it did this morning. Leerink’s Geoffrey Porges and Bradley Canino explain why investors were disappointed today: -
Johnson & Johnson (JNJ) Issues Quarterly Earnings Results
Jan 24, 2017 | Community Financial News
By Carolyn Dwyer
Johnson & Johnson (NYSE:JNJ) posted its quarterly earnings data on Tuesday. The company reported $1.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.56 by $0.02. The business had revenue of $18.10 billion for the quarter, compared to the consensus estimate of $18.28 billion. Johnson & Johnson had a net margin of 22.03% and a return on equity of 25.30%. The company’s revenue was up 1.7% compared to the same quarter last year. During the same period last year, the firm posted $1.44 earnings per share. Johnson & Johnson updated its FY17 guidance to $6.93-7.08 EPS. -
J&J Guides Lower for 2017 Despite Fourth-Quarter Beat (Video)
Jan 24, 2017 | The Street
By Gregg Greenberg
Johnson & Johnson (JNJ) posted better-than-expected fourth-quarter 2016 earnings amid lower 2017 forecasts. It also reiterated its aim to look at strategic options that could include mergers or asset sales. -
J&J Reports Full Year and Q4 Results
Jan 24, 2017 | Happi
Johnson & Johnson today announced sales of $18.1 billion for the fourth quarter of 2016, an increase of 1.7% as compared to the fourth quarter of 2015. Operational sales results increased 2.3% and the negative impact of currency was 0.6%. Domestic sales increased 2.6%. International sales increased 0.6%, reflecting operational growth of 1.9% and a negative currency impact of 1.3%. -
J&J exploring strategic options for LifeScan unit
Jan 24, 2017 | Drug Store News
By Michael Johnsen
Johnson and Johnson on Tuesday announced it will be evaluating "potential strategic options" for its LifeScan diabetes business, as well as other J&J diabetes banners including Animas Corp. and Calibra Medical. -
Jim Cramer Says J&J's Quarter Wasn't That Bad, but He Can't Jump on Pharma Stocks Right Now (VIDEO)
Jan 24, 2017 | The Street
By Rhonda Schaffler
TheStreet's Jim Cramer says Johnson & Johnson's ( JNJ) results weren't bad, but he's still cautious on pharma stocks given the political environment. -
Johnson & Johnson tumbles into pricing debate after lackluster fourth-quarter drug sales
Jan 24, 2017 | MarketWatch
By Emma Court
Lackluster fourth-quarter drug sales have quickly propelled Johnson & Johnson square into a debate about drug pricing that the company has sought to head off. -
Johnson & Johnson Opens 2017 on a Cautious Note
Jan 24, 2017 | Motley Fool
By Dan Caplinger
Investors look to Johnson & Johnson (NYSE:JNJ) to provide a complete picture of the healthcare industry. With its pharmaceutical, medical device, and consumer products businesses, Johnson & Johnson covers a wide swath of the healthcare space, and the blue-chip giant has done a good job of producing solid returns for investors over the long run. Coming into Tuesday's fourth-quarter financial report, J&J investors wanted to see signs that the company's forward momentum would carry into 2017, but some were disappointed when Johnson & Johnson gave guidance for the coming year that indicated a somewhat less rosy outlook than hoped. Let's look more closely at how Johnson & Johnson did and what it sees in its future. -
J&J earnings beat estimates, but sales come up short
Jan 24, 2017 | NJ Biz
By Eric Strauss
New Brunswick-based Johnson & Johnson said Tuesday that earnings beat estimates in the fourth quarter of 2016, but higher revenue nevertheless fell short of expectations. -
Johnson & Johnson Reports Gains in Full-Year and Fourth-Quarter Sales, Earnings
Jan 25, 2017 | Vision Monday
Johnson & Johnson (NYSE: JNJ) reported Tuesday that its worldwide sales totaled $71.9 billion in fiscal 2016, an increase of 2.6 percent compared to 2015, and its adjusted earnings per share (EPS) totaled $6.73, an increase of 8.5 percent. -
Verizon, Johnson & Johnson Sink, Kimberly-Clark Gains
Jan 24, 2017 | Associated Press
Stocks that moved substantially or traded heavily Tuesday: -
J&J Sales Increase 1.7% But Miss Estimates
Jan 24, 2017 | CFO
By Matthew Heller
Johnson & Johnson on Tuesday reported a smaller-than-expected rise in fourth-quarter sales and forecast 2017 sales and profit below Wall Street estimates. -
UPDATE: Johnson & Johnson's lackluster sales shove it into drug-pricing debate
Jan 25, 2017 | Morningstar
By Emma Court
The issue of drug pricing has at minimum maintained its momentum since the election of President Trump -
How Will Johnson & Johnson Fare Under President Trump?
Jan 25, 2017 | MotleyFool
By Keith Speights
"Excited" -- but with a "lot of uncertainty." Those words were used by Johnson & Johnson (NYSE:JNJ) CEO Alex Gorsky in describing his take on the healthcare industry going into 2017. President Donald Trump could deliver both excitement and uncertainty for the giant healthcare company that Gorsky leads. What impact might four to eight years of a Trump presidency have on J&J? -
Uh-Oh: This Could Be Johnson & Johnson's Biggest Risk in 2017
Jan 25, 2017 | Motley Fool
By Todd Campbell
Johnson & Johnson (NYSE:JNJ) released its fourth-quarter 2016 financials and the numbers show that the launch of a Remicade biosimilar by Pfizer, Inc. (NYSE:PFE) could pose a big threat to the company's growth in 2017. -
Squawk on the Street
Jan 24, 2017 | CNBC
View Clip Here: http://app.criticalmention.com/app/#clip/view/25811912?token=dd700d2e-9144-4e64-8c3e-1a680e9dc8b5 -
Bloomberg Surveillance
Jan 24, 2017 | Bloomberg
View Clip Here: http://app.criticalmention.com/app/#clip/view/25811919?token=dd700d2e-9144-4e64-8c3e-1a680e9dc8b5 -
Squawk Box - Dominic Caruso Interview
Jan 24, 2017 | CNBC
View Clip Here: http://app.criticalmention.com/app/#clip/view/25811923?token=7ae14a68-d262-4c7f-89c9-cd97f5e2ff9a -
Squawk Box
Jan 24, 2017 | CNBC
Squawk Box CNBC January 24, 2017 View Clip Here: http://app.criticalmention.com/app/#clip/view/25811927?token=7ae14a68-d262-4c7f-89c9-cd97f5e2ff9a -
Bloomberg Daybreak: Americas
Jan 24, 2017 | Bloomberg
View Clip Here: http://app.criticalmention.com/app/#clip/view/25811929?token=7ae14a68-d262-4c7f-89c9-cd97f5e2ff9a -
Bloomberg Daybreak: Americas (Caruso Interview)
Jan 24, 2017 | Bloomberg
View Clip Here: http://app.criticalmention.com/app/#clip/view/25812008?token=dd700d2e-9144-4e64-8c3e-1a680e9dc8b5 -
Squawk Box
Jan 24, 2017 | CNBC
View Clip Here: http://app.criticalmention.com/app/#clip/view/25812015?token=7ae14a68-d262-4c7f-89c9-cd97f5e2ff9a -
Fox News - Mornings with Maria Bartiromo
Jan 24, 2017 | Fox News
View Clip Here: http://app.criticalmention.com/app/#clip/view/25812165?token=7ae14a68-d262-4c7f-89c9-cd97f5e2ff9a -
Short Jim Cramer CNBC Clip
Jan 24, 2017 | CNBC
View Clip Here: http://app.criticalmention.com/app/#clip/view/25812557?token=7ae14a68-d262-4c7f-89c9-cd97f5e2ff9a -
Jim Cramer CNBC Clip
Jan 24, 2017 | CNBC
View Clip Here: http://app.criticalmention.com/app/#clip/view/25813253?token=dd700d2e-9144-4e64-8c3e-1a680e9dc8b5 -
CNBC Halftime Report Clip
Jan 24, 2017 | CNBC
View Clip Here: http://app.criticalmention.com/app/#clip/view/25815403?token=7ae14a68-d262-4c7f-89c9-cd97f5e2ff9a -
Bloomberg Markets: Americas (Included Caruso Interview)
Jan 24, 2017 | Bloomberg
View Clip Here: http://app.criticalmention.com/app/#clip/view/25815447?token=7ae14a68-d262-4c7f-89c9-cd97f5e2ff9a -
Bloomberg Markets: Asia Clip
Jan 25, 2017 | Bloomberg TV
View Clip Here: http://app.criticalmention.com/app/#clip/view/25821515?token=a1d92c01-dc58-4acd-b08a-00265b60ec13 -
Bloomberg Markets: Asia
Jan 25, 2017 | Bloomberg TV
View Clip Here: http://app.criticalmention.com/app/#clip/view/25821528?token=a1d92c01-dc58-4acd-b08a-00265b60ec13
Traditional Coverage
Television Coverage
Full Text of Stories Below
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Johnson & Johnson (JNJ) Tops Q4 EPS by 2c; Guides Modestly Below the Street
Jan 24, 2017 | Street Insider
GUIDANCE:
Johnson & Johnson sees FY2017 EPS of $6.93-$7.08, versus the consensus of $7.11. Johnson & Johnson sees FY2017 revenue of $74.1-74.8 billion, versus the consensus of $75.1 billion.
"We are pleased to report that we accelerated our adjusted growth for 2016 over the prior year, and delivered a strong total shareholder return of greater than 15 percent. The strong adjusted sales and EPS growth was driven by the impressive performance of our Pharmaceutical business and continued momentum in our Medical Device business and share gains while improving profitability in our Consumer business," said Alex Gorsky, Chairman and Chief Executive Officer. "Looking forward to 2017, we expect to continue driving sustainable, long-term growth through the new products, science and innovation that our talented colleagues and partners of Johnson & Johnson are advancing to positively impact human health."
For earnings history and earnings-related data on Johnson & Johnson (JNJ) click here.
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Johnson & Johnson Earnings Advance 8% In Q4
Jan 24, 2017 | RTT News
Johnson & Johnson (JNJ) announced a profit for its fourth quarter that increased from last year.
The company said its bottom line totaled $4.36 billion, or $1.58 per share. This was up from $4.04 billion, or $1.44 per share, in last year's fourth quarter.
Analysts had expected the company to earn $1.56 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company said revenue for the quarter rose 1.7% to $18.11 billion. This was up from $17.81 billion last year.
Johnson & Johnson earnings at a glance:
-Earnings (Q4): $4.36 Bln. vs. $4.04 Bln. last year.
-Earnings Growth (Y-o-Y): 7.9%
-EPS (Q4): $1.58 vs. $1.44 last year.
-EPS Growth (Y-o-Y): 9.7%
-Analysts Estimate: $1.56
-Revenue (Q4): $18.11 Bln vs. $17.81 Bln last year.
-Revenue Change (Y-o-Y): 1.7%
-Guidance:
Full year EPS guidance: $6.93 - $7.08
Full year revenue guidance: $74.1 - $74.8 Bln
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Johnson & Johnson's stock drops after earnings beat but sales missed
Jan 24, 2017 | MarketWatch
By Tomi Kilgore
Shares of Johnson & Johnson JNJ, -0.21% slumped 1.7% in premarket trade Tuesday, after the consumer products and healthcare company beat fourth-quarter profit expectations buy fell short on sales. Earnings rose to $3.81 billion, or $1.38 a share, from $3.22 billion, or $1.15 a share, in the same period a year ago. Excluding non-recurring items, adjusted earnings per share came to $1.58, beating the FactSet consensus of $1.56. Revenue grew 1.7% to $18.11 billion from $17.81 billion, missing the FactSet consensus of $18.26 billion. Healthcare and medical device sales were below the FactSet consensus, while consumer sales were above expectations. Separately, J&J said it was evaluating strategic options for its diabetes care companies, which include LifeScan Inc., Animas Corp. and Calibra Medical Inc. The options may include sales of the businesses, partnerships or joint ventures. The stock has rallied 18% over the past 12 months through Monday, while the Dow Jones Industrial Average DJIA, -0.14% has run up 23%.
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BRIEF-Johnson & Johnson reports Q4 adj. earnings $1.58 per share
Jan 24, 2017 | Reuters
* Johnson & Johnson reports 2016 fourth-quarter results:
* Q4 earnings per share $1.38
* Q4 adjusted non-GAAP earnings per share $1.58 excluding items
* Q4 earnings per share view $1.56 -- Thomson Reuters I/B/E/S
* Q4 sales $18.1 billion versus I/B/E/S view $18.28 billion
* Johnson & Johnson - Engaging in a process to evaluate potential strategic options for Johnson & Johnson diabetes care companies
* Johnson & Johnson - Strategic options may include formation of operating partnerships, joint ventures or strategic alliances, a sale of businesses
* Sees FY 2017 sales $74.1 billion to $74.8 billion
* Sees FY 2017 adjusted earnings per share $6.93 to $7.08 excluding items
* Johnson & Johnson - Excluding items, on an operational basis, qtrly worldwide sales increased 7.6 percent, domestic sales increased 9.5 percent and international sales increased 5.6 percent
* FY 2017 earnings per share view $7.11, revenue view $75.10 billion -- Thomson Reuters I/B/E/S
* Johnson & Johnson Q4 worldwide Invokana/ Invokamet sales $371 million versus $372 million
* Johnson & Johnson - Q4 worldwide pharmaceutical sales $8,232 million versus $8,064 million last year
* Q4 worldwide Remicade sales $1,624 million versus $1,783 million in Q3
* Johnson & Johnson - Q4 worldwide consumer sales $3,432 million versus $3,320 million last year
* Johnson & Johnson - Q4 worldwide medical devices sales $6,442 million versus $6,427 million last year
* Johnson & Johnson Q4 worldwide Zytiga sales $519 million versus $581 million
* Q4 worldwide Velcade sales $274 million versus $304 million in Q3 Source text for Eikon: Further company coverage:
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Johnson & Johnson Offers Weak Outlook, May Look To Sell Diabetes Units
Jan 24, 2017 | Stock News
Johnson & Johnson (NYSE:JNJ) early Tuesday posted mixed fourth quarter results, offered a tepid outlook, and said it would look to sell its diabetes treatment units.
The New Brunswick, NJ-based diversified health care giant reported adjusted Q4 EPS of $1.58, which was $0.02 better than the Wall Street consensus estimate of $1.56. Revenues rose 1.7% from last year to $18.11 billion, missing analysts’ view of $18.26 billion, however.
J&J noted that domestic sales increased 2.6% in the latest period, while international sales gained 0.6%. International results were hampered by currency impacts of approximately 1.3%.
For the full year 2016, Worldwide Consumer sales fell 1.5% to $13.3 billion, Worldwide Pharmaceutical sales rose 6.5% to $33.5 billion, and Worldwide Medical Devices sales fell 0.1% to $25.1 billion. All of those results were also hurt by currency impacts related to a stronger dollar.
Looking ahead, JNJ forecast 2017 EPS to range from $6.93 to $7.08, which would miss Wall Street’s $7.12 estimate. 2017 revenues are seen between $74.1 and $74.8 billion, also lower than analysts’ $75.13 billion view.
The company also intimated it would look to possibly jettison its diabetes treatment units:
Additionally, as part of the Company’s ongoing portfolio management, the Company is announcing it is engaging in a process to evaluate potential strategic options for the Johnson & Johnson Diabetes Care Companies, specifically LifeScan, Inc., Animas Corporation, and Calibra Medical, Inc. Strategic options may include the formation of operating partnerships, joint ventures or strategic alliances, a sale of the businesses, or other alternatives either separately or together. All options will be evaluated to determine the best opportunity to drive future growth and maximize shareholder value. There can be no assurance that this process will result in any transaction or other strategic alternative of any kind.
Johnson & Johnson shares fell $1.31 (-1.15%) in premarket trading Tuesday. Year-to-date, JNJ has declined -1.13%, versus a 1.17% rise in the benchmark S&P 500 index during the same period.
JNJ currently has a StockNews.com POWR Rating of C (Neutral), and is ranked #23 of 131 stocks in the Medical – Pharmaceuticals category.
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Johnson & Johnson (JNJ) Releases Earnings Results, Beats Expectations By $0.02 EPS
Jan 24, 2017 | Highland Mirror
By Melissa Rogers
Johnson & Johnson (JNJ) announced its most recent quarterly financial results on Tuesday, Jan-24-2017. JNJ said it had a profit of $1.58 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $1.56. The company posted revenue of $18106.00 million in the period, compared to analysts expectations of $18259.82 million. JNJ’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.44 EPS.
Several company insiders have filed Insider transactions , on Jul 28, 2016, Dominic J Caruso (Exec VP, Finance; CFO) sold 41,146 shares at $125.01 per share price. According to the SEC, on Jul 25, 2016, Ronald A Kapusta (Controller, CAO) sold 2,935 shares at $125.01 per share price. On Jun 9, 2016, Gary J Pruden (Exec VP, WW Chair, Med Devices) sold 9,735 shares at $116.03 per share price, according to the Form-4 filing with the securities and exchange commission.
Johnson & Johnson closed down -0.24 points or -0.21% at $113.91 with 7,989,760 shares getting traded on Monday. Post opening the session at $114.51, the shares hit an intraday low of $113.8 and an intraday high of $114.77 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
Johnson & Johnson is a holding company. The Company is engaged in the research and development manufacture and sale of a range of products in the health care field. The Company has more than 265 operating companies conducting business around the world. The Company’s primary focus is products related to human health and well-being. The Company is organized into three business segments: Consumer Pharmaceutical and Medical Devices. The Company’s subsidiaries operate 134 manufacturing facilities occupying approximately 21.5 million square feet of floor space. The Company’s research facilities are located in the United States Belgium Brazil Canada China France Germany India Israel Japan the Netherlands Singapore Switzerland and the United Kingdom.
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(UPDATE-1) Johnson & Johnson Posts Rise in Revenue and Profit, Issues Cautious Forecast
Jan 24, 2017 | Wall Street Journal
By Austen Hufford
Johnson & Johnson posted revenue and profit increases for the fourth quarter, but the health-care company’s forecast for this year fell below Wall Street estimates.
The New Brunswick, N.J., company said it expects earnings for the year of between $6.93 and $7.08 a share and revenue of between $74.1 billion and $74.8 billion. Analysts polled by Thomson Reuters said they expected earnings per share of $7.11 on revenue of $75.1 billion.
J&J’s performance this year could be affected by factors that are still in flux.
The company is in talks to buy Actelion Pharmaceuticals Ltd., a Swiss maker of rare-disease drugs that had about $1.8 billion in sales during the first nine months of last year. On a conference call, J&J Chief Executive Alex Gorsky declined to comment on the Actelion discussions other than to acknowledge them.
Mr. Gorsky also said J&J is assessing a wide range of options, including potential sales, for its diabetes businesses that sell devices such as blood-glucose meters and insulin pumps.
Sales of J&J’s top-selling product, the medication Remicade, are expected to be cut by competition from a lower-price copy, Inflectra from Pfizer Inc., that went on sale late last year. J&J said it had yet to see any impact from Inflectra sales. Remicade had $4.8 billion in U.S. sales last year.
Chief Financial Officer Dominic Caruso said growth would slow in the company’s pharmaceuticals business in 2017, as sales of newer drugs that have enjoyed fast growth during their launches stabilize.
And with nearly half of its sales overseas, J&J’s results have been pressured by a strengthening U.S. dollar and weakness in some emerging markets. The company said currency fluctuations shaved 0.6% off its sales in the quarter.
“As we move into 2017, we are confident in the strength of our business,” Mr. Caruso said on a conference call with analysts and investors.
In all for the December quarter, J&J posted a profit of $3.81 billion, or $1.38 a share, up from $3.22 billion, or $1.15 a share, a year earlier. Revenue rose 1.7% to $18.12 billion.
Excluding certain items, adjusted earnings were $1.58 a share. Analysts had expected $1.56 in adjusted profit per share and revenue of $18.28 billion.
J&J shares were down 2.1% at $111.50 apiece Tuesday morning.
On Monday, Mr. Gorsky met with President Donald Trump and other business leaders. Mr. Gorsky described the meeting as productive and said the discussion focused not on health care but on tax and regulatory matters and on accelerating the growth of U.S. jobs.
In the conference call, Mr. Gorsky said he hoped Washington would address changes to corporate taxation and to rules that drug companies say effectively limit their ability to receive reimbursement based on the benefits their drugs provide to patients.
Mr. Gorsky said J&J hoped any changes to the Affordable Care Act would increase patient access to health care, prevent health insurers from rejecting patients with pre-existing conditions and continue to ensure coverage of children on their parents’ health plans until age 26 years.
Mr. Caruso said J&J didn’t see sales increase as a result of the government’s expansion of health insurance, but has paid $1.4 billion in fees and rebates.
Revenue rose 1.7% to $18.12 billion.
Excluding certain items, adjusted earnings were $1.58 a share. Analysts had expected $1.56 in adjusted profit per share and revenue of $18.28 billion.
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Price Target Review: JOHNSON & JOHNSON (NYSE:JNJ) , RESMED INC. (NYSE:RMD)
Jan 24, 2017 | WSNews 4 Investors
By Marry Johnson
Johnson & Johnson (NYSE:JNJ) initiated the shares trading at $114.51 and showed negative change of -0.21% while the stock’s final trade was registered at $ 113.91. However, its previous closing price was seen at $114.15. The stock negotiated total number of 7.99 million shares as compared to 3 months average volume of 7.07 million shares.
The stock price demonstrated downbeat change from its 50 day moving average of 114.83 and had been down from its 200 Day Moving Average of 118.00.
Brokerage Recommendations:
According to ZACKS data, different Brokerage Firms rated JNJ stock about their BUY, SELL or HOLD recommendations. 1 Week Ago, shares have been suggested as BUY from 2 brokerage firms and recommended as Strong Buy by 7 brokerage firms.0 brokerage firms have issued Sell rating for the company and Strong Sell rating was issued by 1 brokerage firms.9 brokerage firms have rated the company as a Hold. The Corporation has average brokerage recommendation (ABR) of 2.26 based on consensus of the brokerage firms issuing ratings.
Shares of ResMed Inc. (NYSE:RMD) declined -0.08% and ended at $63.60 smaller than previous closing price of $63.65. The total 1.42 million shares were bought and sold throughout the most recent trading session more than average volume of 898.76 thousand shares.
Brokerage Recommendations:
RMD stock has received ratings from many brokerage firms according to ZACKS. 1 Week Ago, shares have been rated as Buy from 1 brokerage firms and 2 brokerage firms say as Strong Buy. 1 brokerage firms have suggested Sell for the company. 3 brokerage firms have recommended as a Hold. Strong Sell rating was given by 3 brokerage firms. The Company has average brokerage recommendation (ABR) of 3.15 based on consensus of the ZACKS brokerage firms.
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Johnson & Johnson's Q4 sales boosted by new drugs; annual guidance comes in below estimates
Jan 24, 2017 | First Word Pharma
By Matthew Dennis
Johnson & Johnson announced Tuesday that fourth-quarter sales of prescription drugs rose 2.1 percent year-over-year to $8.2 billion, with growth driven by revenue from new products including Imbruvica, Darzalex and Xarelto. The company's overall sales in the three-month period lifted 1.7 percent to $18.1 billion, although the figure came in below analyst estimates of around $18.3 billion.
"We are pleased to report that we accelerated our adjusted growth for 2016 over the prior year," commented CEO Alex Gorsky, adding "the strong adjusted sales and EPS growth was driven by the impressive performance of our pharmaceutical business and continued momentum in our medical device business." In the quarter, net earnings jumped 18.6 percent to $3.8 billion.
For 2017, Johnson & Johnson indicated that sales are expected to be in the range of $74.1 billion to $74.8 billion, reflecting growth of 4 percent to 5 percent over the prior year, with earnings per share between $6.93 and $7.08. Analysts predict annual revenue of $75.1 billion, on earnings of $7.11 per share.
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Johnson & Johnson mulls ‘strategic options’ for diabetes business
Jan 24, 2017 | Mass Device
By Brad Perriello
Johnson & Johnson (NYSE:JNJ) said today that it’s mulling the proverbial “strategic options” for its diabetes business, including the LifeScan, Animas and Calibra Medical brands.
“Strategic options may include the formation of operating partnerships, joint ventures or strategic alliances, a sale of the businesses, or other alternatives either separately or together,” the healthcare conglomerate said in reporting its 4th-quarter and full-year earnings this morning. “All options will be evaluated to determine the best opportunity to drive future growth and maximize shareholder value. There can be no assurance that this process will result in any transaction or other strategic alternative of any kind.”
Diabetes sales were off for both periods, sliding -3.8% to $462 million during Q4 and -7.2% to $1.79 billion for full-year 2016.
New Brunswick, N.J.-based Johnson & Johnson also said it missed the consensus top-line forecasts but still eked out earnings beats for both the quarter and 2016.
Profits were $3.81 billion, or $1.38 per share, on sales of $18.11 billion for the 3 months ended Dec. 31, 2016, representing a bottom-line gain 18.6% on sales growth of 1.7% compared with Q4 2015. Adjusted to exclude 1-time items, earnings per share were $1.58, 2¢ ahead of the Wall Street consensus estimate; analysts there were looking for sales of $18.28 billion.
Full-year profits grew 7.3% to $16.54 billion, or $5.93 per share, on sales growth of 2.6% to $71.89 billion. Adjusted EPS came in at $6.73, again 2¢ ahead of The Street, but J&J missed the consensus sales number of $72.03 billion.
“We are pleased to report that we accelerated our adjusted growth for 2016 over the prior year, and delivered a strong total shareholder return of greater than 15%. The strong adjusted sales and EPS growth was driven by the impressive performance of our pharmaceutical business and continued momentum in our medical device business and share gains while improving profitability in our consumer business,” chairman & CEO Alex Gorsky said in prepared remarks. “Looking forward to 2017, we expect to continue driving sustainable, long-term growth through the new products, science and innovation that our talented colleagues and partners of Johnson & Johnson are advancing to positively impact human health.”
Johnson & Johnson said it expects to report adjusted EPS of $6.93 to $7.08 on sales of $74.1 billion to $74.8 billion this year.
Medical device sales flat
Including the diabetes division’s declines, J&J’s medical device business posted flat sales for both periods. Fourth-quarter medical device sales were up 0.2% to $6.44 billion; full-year sales slipped -0.1% to $25.12 billion. Here’s a look at how the division broke down:
(View graphic here: http://www.massdevice.com/johnson-johnson-mulls-strategic-options-diabetes-business/)
JNJ shares were off -2.5% to $111.11 each today in pre-market trading.
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Johnson & Johnson Beats Fourth-Quarter Earnings Estimate, Posts Lower 2017 Guidance
Jan 24, 2017 | The Street
By Martin Baccardax
Johnson & Johnson (JNJ) posted better-than-expected fourth-quarter earnings and reiterated its aim to look at strategic options for the company that could include mergers or asset sales amid lower 2017 forecasts.
J&J said earnings for the three months ended in December, excluding special items, came in at $1.58 a share, marginally higher than the $1.56 forecast of analysts. Revenue for the quarterly period was tabbed at $18.1 billion, the company said, just shy of the FactSet forecast of $18.26 billion.
However, 2017 adjusted earnings forecasts were set at between $6.93 and $7.08 a share, well shy of analysts' estimates of $7.11. Revenue forecasts were set at $74.1 billion to $74.8 billion, short of forecasts of $75.1 billion.
We are pleased to report that we accelerated our adjusted growth for 2016 over the prior year, and delivered a strong total shareholder return of greater than 15%. The strong adjusted sales and EPS growth was driven by the impressive performance of our Pharmaceutical business and continued momentum in our Medical Device business and share gains while improving profitability in our Consumer business," said Chairman and CEO Alex Gorsky.
J&J said it would evaluate potential strategic options for Johnson & Johnson Diabetes Care Companies, specifically LifeScan Inc., Animas Corp. and Calibra Medical.
"Strategic options may include the formation of operating partnerships, joint ventures or strategic alliances, a sale of the businesses, or other alternatives either separately or together," the company said. "All options will be evaluated to determine the best opportunity to drive future growth and maximize shareholder value."
The statement made no mention of Actelion, the Swiss biotech firm in which J&J engaged in merger talks on Dec. 21. Media reports had indicated that the company had reached a tentative agreement earlier this month and could be moving closer to a deal that could see a spinoff of Actelion's research and development assets into a new firm in which existing Actelion shareholders would be able to retain some ownership.
Johnson & Johnson closed at $113.91 Monday in New York, down 0.21% on the session amid a generally lower U.S. equity market. The stock is broadly flat with its pre-election level after a volatile 10 weeks of trading into Donald Trump's inauguration. However, it has gained 17.7% over the last 12 months.
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J&J (JNJ) Beats on Q4 Earnings, Sales Miss; Stock Down
Jan 24, 2017 | Zack's Equity Research
Johnson & Johnson (JNJ - Free Report) , the bellwether of healthcare companies, has a strong presence in the pharmaceutical, medical devices and consumer care markets across the world. This New Jersey-based company is well known for its baby-care products and brands like Tylenol in addition to drugs like Remicade and Concerta.
However, like many of its peers, JNJ is facing generic competition and pricing pressure for some of the products in its pharmaceutical segment. JNJ also had issues with its consumer segment manufacturing facilities.
In this scenario, investor focus remains on late-stage pipeline candidates and their commercial potential as well as the performance of new products apart from the usual top-and bottom-line numbers.
JNJ has a pretty good earnings track record with the company delivering positive earnings surprises in each of the last four quarters with an average surprise of 2.47%. Estimates have declined slightly over the past 7 days.
Johnson & Johnson Price
Currently, JNJ has a Zacks Rank #3 (Hold), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings Beat: JNJ beat on fourth quarter earnings - the company reported EPS of $1.58 while our consensus called for EPS of $1.56.
Revenues Miss: Revenues were, however, slightly below expectations. Johnson & Johnson posted revenues of $18.11 billion, compared to our consensus estimate of $18.12 billion.
2017 Guidance: J&J issued sales and earnings guidance for 2017, which was in-line with expectations. J&J expects adjusted earnings per share in the range of $6.93 to $7.08 per share in 2017. The Zacks Consensus Estimate stood at $7.06 per share.
The revenue guidance for 2017 was in the range of $74.1 billion to $74.8 billion. The Zacks Consensus Estimate stood at $74.61 billion.
Stock Price Impact: Shares declined around 1.7% in pre-market trading.
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J&J to explore sale of diabetes care business
Jan 24, 2017 | Financial Times
By David Crow
Johnson & Johnson, the world’s largest healthcare company, said it was exploring a sale of its diabetes care business as it announced fourth quarter earnings that were broadly in line with Wall Street estimates.
The group said it would evaluate “potential strategic options” for its diabetes brands, LifeScan, Animas and Calibra, which make devices including glucose monitors and insulin pumps, report David Crow in New York.
J&J will consider putting the companies – which generated sales of $1.8bn last year – into a joint venture and forming strategic alliances as well as an outright sale, the company said.
The healthcare company made no mention of a potential takeover of Actelion, the Swiss drugmaker which it has been locked in talks with for weeks over a deal.
Shares in Actelion fell 2 per cent on Tuesday morning, giving it a market value of 24bn Swiss francs ($24bn) J&J reported adjusted earnings of $1.58 per share on revenues of $18.1bn for the fourth quarter of 2016, versus the consensus Wall Street estimate of $1.56 and $18.3bn.
However, the group announced profit and sales forecasts for 2017 that fell short of expectations, pencilling in adjusted EPS of $6.93 to $7.08 on revenues between $74.1bn and $74.8bn.
Analysts were expecting the company to generate adjusted EPS of $7.12 on revenues of $75bn.
Shares in J&J fell by 1.7 per cent in premarket trading in New York.
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Jan 24, 2017 | Seneca Globe
By Steve Hart
Johnson & Johnson (NYSE:JNJ) are dropping -0.21% to $113.91 with traded session volume was 7.3 Million. Johnson & Johnson (JNJ) will participate in the Leerink Partners 6th Annual Global Healthcare Conference on Thursday, Feb. 16, at Lotte New York Palace, NY. Joaquin Duato, Executive Vice President, Worldwide Chairman, Pharmaceuticals will represent the Company in a session slated at 10:00 a.m. (Eastern Time). As concerns of stock price volatility, it was 0.87% for a week and 0.96% for a month.
Stocks of UDR, Inc. (NYSE:UDR) appeared in active trade move, declined -0.06% to trade at $36.05 in last session with shares volume of 1.6 Million. UDR, Inc. (NYSE:UDR) revealed that it has established an unsecured commercial paper program in the United States.Under the terms of the program, the Company may issue, from time to time, unsecured commercial paper notes up to a maximum aggregate amount outstanding of $500 million.
The notes will be sold under customary terms in the United States commercial paper note market and will rank paripassu with all of the Company’s other unsecured senior indebtedness. The notes will be fully and unconditionally guaranteed by United Dominion Realty, L.P. The proceeds of the notes will be used for general corporate purposes. To taking a short look on firm’s performance of margin, it showed a positive 22.80% in the net profit margin and in addition to its operating margin, which remained 16.80%.
Time Inc. (NYSE:TIME) reduced -0.27% during the previous trading session. Time Inc.’s (TIME) Viant, a people-based advertising technology company, has signed contract to acquire Adelphic, a company that provides a mobile-first, cross-channel programmatic advertising platform. Adelphic’s self-service media planning and execution tools, including its ability to reach consumers across all screens and formats, will bolster Viant’s people-based data and analytics offerings.
The deal is expected to close during the first quarter of 2017.As a pioneer demand-side platform (DSP), Adelphic’s global media execution capabilities, in combination with Time Inc.’s and Viant’s first-party registered user bases, will bring marketers and their agency partners the first people-based DSP capable of reaching more than 1 billion consumers worldwide.
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Earnings Reaction History of Johnson & Johnson (NYSE:JNJ)
Jan 24, 2017 | Facts Reporter
By Mindy Sparks
Johnson & Johnson (NYSE:JNJ) moved down -0.21% and closed its last trading session at $113.91. This Medical Sector stock currently has the Market Capitalization of 310.03 Billion. The Average Volume for the stock is measured as 7.09 Million. The Stock has a 52-Week High of $126.07 and 52-Week Low of $97.14 following the dates, it touched its 52-Week High on Jul 20, 2016 and 52-Week Low on Jan 26, 2016. Currently, the Return on Assets value for the trailing twelve months is 11.6% with the Return on Equity and Return on Investment of 22.1% and 14.7% respectively. This firm currently has YTD (year to date) performance of -1.13 Percent which is not good. The Short Ratio for the stock is 2.86.
Johnson & Johnson (NYSE:JNJ) Price to Earnings (P/E) ratio is 19.97. EPS or Earning per Share stands at $5.71. The TTM operating margin is 26 percent.
Johnson & Johnson (NYSE:JNJ) reports its Earnings on Tomorrow. The estimated EPS for the current quarter is said to be $1.56. Following Earnings result, share price were DOWN 15 times out of last 28 Qtrs. The stock has reduced about -3% since it reported its last earnings. The Closing price of Johnson & Johnson (NYSE:JNJ) at Last Earnings was $117.67 as compared to the previous closing price of $114.2. The Predicted Move on the 7th day after Johnson & Johnson (NYSE:JNJ) will release its earnings at about 2%.
By Looking at Earnings History, Out of 12 Quarters when the Earnings were reported, Johnson & Johnson (NYSE:JNJ) beats earnings by 100%, The Stock Missed Earnings 0 times and has met earnings 0 times.
Earnings History:
We will discuss the past Quarters Earnings below:
Johnson & Johnson (NYSE:JNJ) reported its previous quarter on 10/18/2016 where it reported the Actual Earnings of $1.68. The Closing price before the company posted its earnings was $117.67. The Stock declined on the very next day of earnings and maintained its stock price at $114.62 by showing a % change of -2.59 percent from its previous closing price. The Next Day Volume after Earnings was reported as 12.6 Million. On the 7th day After Earnings Report, the stock hit its share price as $112.83 by showing -4.11% decrease from the Stock price Before Earnings were reported.
On 07/19/2016, the stock reported the EPS of $1.74 where Analysts were projecting the EPS to be $1.68 showing a difference of $0.06. Thus Surprise Factor was there with 3.6 percent. Before Earnings Announcement on 07/19/2016, the firm had its stock price of $121.48. And immediately on the next day after earnings announcement, the stock inclined 1.71% and closed its trading session at $123.56. On 7th Day after earnings release, Johnson & Johnson (NYSE:JNJ) surged to 1.42% from $121.48 to $123.21.
On 04/19/2016, Analysts were suspecting EPS of $1.65/share where Johnson & Johnson (NYSE:JNJ) reported its Actual EPS of $1.73. Thus showing a Surprise of 4.8 percent. The Closing Price of the stock before earnings was $108.66 while on the Next day the stock closed its trading session at $110.38 with a percentage change of 1.58% from the price of 108.66 before Earnings. The Stock Closing Price on the 7th day of earnings was $111.19.
Company Profile:
Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the health care field worldwide. It operates through three segments: Consumer, Pharmaceutical, and Medical Devices. The Consumer segment offers baby care products under the JOHNSON’S brand name; oral care products under the LISTERINE brand name; skin care products under the AVEENO, CLEAN & CLEAR, DABAO, JOHNSON’S Adult, LE PETITE MARSEILLAIS, LUBRIDERM, NEUTROGENA, and RoC brand names; women’s health products, such as sanitary pads under the STAYFREE and CAREFREE, and o.b. tampon brand names; wound care products, including adhesive bandages under the BAND-AID brand name and first aid products under the NEOSPORIN brand name. This segment also provides over-the-counter medicines, including acetaminophen products under the TYLENOL brand name; cold, flu, and allergy products under the SUDAFED brand name; allergy products under the BENADRYL and ZYRTEC brand names; ibuprofen products under the MOTRIN IB brand name; and heartburn products under the PEPCID brand name. The Pharmaceutical segment provides various products in the areas of immunology, infectious diseases and vaccines, neuroscience, oncology, and cardiovascular and metabolic diseases. The Medical Devices segment offers orthopaedic products; general surgery, biosurgical, endomechanical, and energy products; electrophysiology products to treat cardiovascular disease; sterilization and disinfection products to reduce surgical infection; blood glucose monitoring and insulin delivery products; and disposable contact lenses. The company offers its products to general public, retail outlets and distributors, wholesalers, hospitals, and health care professionals for prescription use, as well as for use in the professional fields by physicians, nurses, hospitals, eye care professionals, and clinics. Johnson & Johnson was founded in 1885 and is based in New Brunswick, New Jersey.
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Johnson & Johnson (JNJ) Earnings Beat, Revenue Miss Nasdaq
Jan 24, 2017 | Nasdaq
By Richard Saintvilus
Shares of Johnson & Johnson (JNJ) are trading almost 2% lower in Tuesday’s pre-market session after the healthcare conglomerate released mixed fourth quarter fiscal 2016 earnings results and beat on the bottom line, but missed on the top. But given the rate at which the company has moved to lower costs, that shouldn't’ have been much of surprise.
What was a surprise, however, was that the company announced it was evaluating “strategic options” for its diabetes care companies, which include LifeScan Inc., Animas Corp. and Calibra Medical Inc. The options may include sales of the businesses, partnerships or joint ventures. All told, Johnson & Johnson needs a healthy dose of growth. And the Dow component seems intent on focusing on the bottom line as revenue growth options continue to evade. Let’s go through the numbers.
For the quarter that ended December, the New Jersey-based consumer products reported a net income of $3.81 billion, or $1.38 per share, up from $3.22 billion, or $1.15 per share, in the same period a year ago. On an adjusted basis, when taking out one-time gains and cost, earnings were $1.58 per share, which was enough for a 2-cent beat. Fourth quarter revenue grew 1.7% year over year to $18.11 billion, up from $17.81 billion a year ago, but missing consensus of $18.26 billion.
The company said net revenues were negatively impacted 1.3% by currency fluctuations. When adjusting out certain impacts, including acquisitions, divestitures and additional shipping days, Johnson & Johnson said worldwide revenue would have increased 7.6%. “The strong adjusted sales and EPS growth was driven by the impressive performance of our Pharmaceutical business and continued momentum in our Medical Device business and share gains while improving profitability in our Consumer business," said CEO Alex Gorsky in a statement.
The company, however, while evaluating “strategic options” for its diabetes care companies, didn’t comment about Actelion, the Swiss biotech firm it attempted to acquire last month. Reports suggest that both sides had reached a tentative agreement and talks could accelerate in the weeks ahead. It remains to be seen what emerges from these discussions or what the company decides to do with the diabetes care business. But it’s tough to ignore the potential value these moves could create.
Reports suggest that if or when a deal with Actelion is completed, Johnson & Johnson could spin off Actelion's R&D assets into a new business, allowing current Actelion shareholders to retain some ownership. Meanwhile, divesting the diabetes care companies — or other “strategic options” — would further reduce Johnson & Johnson’s overhead and put the company on track to achieve its target cost savings of some $1 billion in the next two years.
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Johnson & Johnson slumps despite 1.7% sales rise
Jan 24, 2017 | Digital Look
By Connor Coyle
Mammoth US healthcare company Johnson & Johnson reported a 1.7% rise in its sales during the final quarter of 2016, but its stock was trading 1.68% lower in pre-market trade.
Johnson & Johnson reported earnings of $3.81bn, or $1.38 a share, from $3.22bn, or $1.15 a share, in the same period a year ago.
Adjusted earnings per share ended up at $1.58, higher than analysts' expectations of $1.56. Revenue for the company's fourth quarter was also higher compared with a year ago, growing from $17.81bn to $18.11bn.
"The strong adjusted sales and EPS growth was driven by the impressive performance of our Pharmaceutical business and continued momentum in our Medical Device business and share gains while improving profitability in our Consumer business," said Alex Gorsky, chairman and chief executive officer.
"Looking forward to 2017, we expect to continue driving sustainable, long-term growth through the new products, science and innovation that our talented colleagues and partners of Johnson & Johnson are advancing to positively impact human health."
Johnson & Johnson's share price has been boosted 18% over the last 12 months, finishing at $113.91 at the close on Monday.
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Jan 24, 2017 | Streetwise Report
By Richard Avery
Under investment valuation analysis, Johnson & Johnson (NYSE:JNJ) presented as an active mover, it has floated short ration of 0.75%, hold to candle to sentiment indicator of Short Ratio, which was 2.89. Shares eased down -0.21% to trade at $113.91 in most recent trading session.
Ratio Analysis
Entering into ratio analysis, JNJ has noticeable price to earnings growth ratio of 3.06, which find it more attractive on the other stock that has lower PEG and vice versa. The firm price to earnings ratio calculated as 19.97. The co stands at price to sale ratio of 4.33 that signifies the value placed on each dollar of a firm’s sales or incomes; it is most relevant ratio to compare companies in similar sector. It has price to book ratio of 4.28, which gauges the market price of a share over its book value.
The firm has price volatility of 0.87% for a week and 0.96% for a month. Narrow down focus to firm performance, its weekly performance was -0.60% and monthly performance was -1.51%. The stock price of JNJ is moving down from its 20 days moving average with -1.26% and isolated negatively from 50 days moving average with -0.79%.
To persist focus on investment valuation, Amgen Inc. (NASDAQ:AMGN) also have significant role in eyes of active investors, firm has price to earnings growth of 2.20, which is a valuation metric for determining relative trade-off among price of a stock.
Effective Investment Valuation
AMGN has price to earnings growth ratio of 2.20, it is adding factors in a stock’s estimated earnings growth into its current valuation that showed 15.26 by price to earning ration. Furthermore, it has price to sale ratio of 5.06 that signifies the value placed on each dollar of a firm’s sales or incomes. The firm’s price to book was 3.71, which can be compared with current price to get idea about under or overvalue of stock. Forward Price to Earnings ratio of AMGN attains value of 12.27 that is projecting or estimating EPS for the next 12-months and its follow by traders who believe on anticipates of a firm’s future rather than past performance.
To have technical views, liquidity ratio of a company calculated as 4.30 to match up with its debt to equity ratio of 1.15. The float short ration was 0.84%; as compared to Short Ratio were 1.48. The firm has institutional ownership of 81.20%, while insider ownership included 0.13%. AMGN attains analyst recommendation of 2.40 with week’s performance of -2.18%.
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JNJ Sees Higher FY17 Results, But Below Market View; Q4 Earnings Top Estimates
Jan 24, 2017 | RTT News
Drug major Johnson & Johnson (JNJ) Tuesday said it expects higher earnings and sales for its fiscal 2017, which are below market estimates. The company also reported solid fourth-quarter results, with adjusted earnings above market estimates, while sales missed their view, despite a growth.
In pre-market activity on the NYSE, Johnson & Johnson shares were losing 1.68 percent to $112.
For fiscal 2017, the company expects adjusted earnings of $6.93 to $7.08 per share, reflecting expected operational growth in the range of 4.8 percent to 7.0 percent. Sales for the year are expected to be in a range of $74.1 billion to $74.8 billion reflecting expected operational growth in the range of 4.0 percent to 5 percent. Excluding the impact of acquisitions and divestitures, operational sales growth is expected to be in the range of 3.0 percent to 3.5 percent.
On average, 22 analysts polled by Thomson Reuters expect earnings of $7.11 per share for the year. Analysts' estimates typically exclude special items. Analysts were looking for sales of $75.1 billion.
In the year 2016, the company's reported earnings per share were $5.93 and adjusted earnings per share were $6.73 on sales of $71.89 billion. These were higher than the previous year.
As part of the ongoing portfolio management, the company said it is in a process to evaluate potential strategic options for the Johnson & Johnson Diabetes Care Companies, specifically LifeScan, Inc., Animas Corporation, and Calibra Medical, Inc. The options include partnerships, joint ventures or strategic alliances, a sale of the businesses, or other alternatives.
The company also said there can be no assurance that this process will result in any transaction or other strategic alternative of any kind.
In its fourth quarter, Johnson & Johnson's net earnings climbed 18.6 percent to $3.81 billion from last year's $3.22 billion. Earnings per share were $1.38, a growth of 20 percent from last year's $1.15.
Excluding after-tax intangible amortization expense and special items, adjusted net earnings for the current quarter were $4.36 billion or $1.58 per share, compared to $4.04 billion or $1.44 per share last year.
Quarterly sales were $18.11 billion, an increase of 1.7 percent from last year's $17.81 billion.
Analysts expected earnings of $1.56 per share on sales of $18.28 billion for the quarter.
Operational sales results increased 2.3 percent. Domestic sales increased 2.6 percent, while International sales edged up 0.6 percent.
The prior year quarter's additional shipping days negatively impacted the current quarter by 480 basis points. On an adjusted basis, worldwide sales increased 7.6 percent, domestic sales increased 9.5 percent and international sales increased 5.6 percent.
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(UPDATE-1) Johnson & Johnson's sales miss; seeks options for diabetes care unit
Jan 24, 2017 | Reuters
Johnson & Johnson (JNJ.N) reported a smaller-than-expected rise in fourth-quarter sales, hurt by slowing demand for its pharmaceutical products and a strong dollar, and said it was looking at strategic options for its diabetes care division.
Shares of the diversified healthcare company, which also forecast 2017 earnings and revenue below estimates, slipped 1.2 percent in premarket trading on Tuesday.
J&J is seeking strategic options for its diabetes care division, specifically LifeScan Inc, Animas Corp and Calibra Medical Inc, as the company looks to rejuvenate its aging legacy portfolio.
The division falls within J&J's medical device business, which is the company's second-biggest division. The diabetes unit accounted for 2.5 percent of total sales in the latest quarter.
J&J's total sales rose 1.7 percent to $18.11 billion in the fourth quarter, but missed analysts' average estimate of $18.28 billion, according to Thomson Reuters I/B/E/S.
A slower-than-expected rise in sales in the company's pharmaceutical business weighed on the quarter.
Sales of its cancer drugs, Imbruvica and Velcade, were below consensus estimates, according to Jefferies analysts.
Another drag was a drop in sales of Remicade, the company's top-seller. Sales of the autoimmune drug fell 3.3 percent in the quarter, dropping for the first time in 2016, but was in line with consensus estimates.
The drug now faces competition in the United States from Pfizer Inc's (PFE.N) biosimilar, Inflectra, which was launched on Nov. 21, midway through the quarter, at a 15 percent lower price.
Sales in the latest quarter took a hit of 0.6 percent due to a strong dollar and another 4.8 percent due to additional shipping days in the year-ago quarter, the company said.
This is a tepid quarter for J&J, and most of its disappointments came from the U.S. market, both before and after currency, Leerink analysts said.
Excluding items, the band-aid maker earned $1.58 per share, beating analysts' average estimate by 2 cents, helped by lower taxes.
J&J forecast 2017 adjusted earnings of $6.93-$7.08 per share and revenue of $74.1 billion-$74.8 billion.
Analysts on average were expecting a profit of $7.11 per share and revenue of $75.10 billion.
The company is currently in exclusive talks to buy Actelion Ltd (ATLN.S), Europe's biggest biotech, and last September agreed to pay $4.33 billion to buy Abbott Laboratories' (ABT.N) eye-care business.
J&J's report, the first among major pharmaceutical companies, comes on the heels of President Donald Trump's scathing remarks on drug price gouging.
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(UPDATE-3) Johnson & Johnson cautious in outlook, shops diabetes care
Jan 24, 2017 | Associated Press
By Tom Murphy
Johnson & Johnson edged above fourth-quarter profit expectations, helped by consumer goods and pharmaceutical growth, but the world's biggest health care products company also gave Wall Street a softer-than-expected 2017 earnings forecast.
The maker of Band-Aids and prescription drugs also said Tuesday it was taking another step in restructuring its medical device segment by shopping its diabetes care businesses, which make test strips and insulin pumps, among other products.
Johnson & Johnson said it is seeking a possible sale, joint venture or operating partnerships for LifeScan Inc., Animas Corp. and Calibra Medical Inc. to spark future growth and maximize shareholder value. The company will continue to sell its diabetes treatment Invokana and focus on treating the disease in areas like bariatric surgery.
"I want to be clear, we still are very interested in diabetes," Chairman and CEO Alex Gorsky told analysts during a conference call.
J&J said last year that it planned to restructure its underperforming medical devices business. Sales from that segment came in nearly flat at $6.44 billion in the fourth quarter.
But revenue from other parts of the company grew, helped in part by acquisitions. J&J made several deals in 2016, including a $3.3-billion purchase of hair and personal products maker Vogue International LLC.
An 18-percent surge in beauty product sales helped worldwide sales of J&J's consumer segment grow 3.4 percent to $3.43 billion.
Pharmaceutical revenue climbed 2.1 percent to $8.23 billion even though sales of top-seller Remicade slipped.
The biologic immune disorder drug's revenue dropped 3.3 percent to $1.62 billion in the quarter. Remicade treats rheumatoid arthritis, psoriasis, Crohn's disease and colitis and has made tens of billions of dollars for J&J since its 1998 launch. But it is facing competition from Pfizer's Inflectra, a near-copy of the injected biologic drug.
Overall, J&J's profit jumped 19 percent to $3.81 billion in the final quarter of 2016. Adjusted earnings came in at $1.58 per share.
That topped average analyst expectations by 2 cents, according to Zacks Investment Research.
Revenue climbed about 1.7 percent to $18.11 billion in the period, which matched Street forecasts.
J&J said Tuesday that it expected full-year adjusted earnings of $6.93 to $7.08 per share on $74.1 billion to $74.8 billion in sales.
Analysts expect, on average, earnings of $7.11 per share on $75.07 billion in revenue, according to FactSet.
Shares of the New Brunswick, New Jersey, company fell more than 2 percent, or $2.64, to $111.31 in midday trading Tuesday, while broader indexes rose slightly. The company's shares had climbed around 19 percent in the last 12 months.
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Johnson & Johnson Revenues, 2017 Outlook Weigh on Shares
Jan 24, 2017 | 24/7 Wall Street
By Paul Ausick
Johnson & Johnson (NYSE: JNJ) reported fourth-quarter and full-year 2016 results before markets opened Tuesday morning. The health care giant reported quarterly adjusted diluted earnings per share (EPS) of $1.58 on revenue of $18.1 billion. In the same period a year ago, it reported EPS of $1.44 on revenue of $17.81 billion. Fourth-quarter results also compare to the consensus estimates for EPS of $1.56 on revenue of $18.28 billion.
For the full year, the company reported EPS of $6.73 and revenues of $71.89 billion, compared with 2015 EPS of $6.20 on $70.07 billion in revenue. Analysts were looking for EPS of $6.71 and revenues of $72.03 billion.
The company also announced 2017 full-year guidance for sales in a range of $74.1 billion to $74.8 billion, reflecting expected operational growth in the range of 4% to 5%. Excluding the impact of acquisitions and divestitures, operational sales growth is expected to be in the range of 3.0% to 3.5%. Johnson & Johnson gave full-year adjusted earnings guidance of $6.93 to $7.08 per share, reflecting expected operational growth in the range of 4.8% to 7.0%.
Consensus estimates call for fiscal year 2017 EPS of $7.11 on revenues of $75.1 billion. For the first quarter, analysts are looking for $1.76 in EPS on revenues of $18.14 billion.
CEO Alex Gorsky said:
The strong adjusted sales and EPS growth was driven by the impressive performance of our Pharmaceutical business and continued momentum in our Medical Device business and share gains while improving profitability in our Consumer business. Looking forward to 2017, we expect to continue driving sustainable, long-term growth through the new products, science and innovation that our talented colleagues and partners of Johnson & Johnson are advancing to positively impact human health.
Johnson & Johnson also announced that it is evaluating strategic options for its Diabetes Care Companies, including specifically LifeScan, Animas and Calibra Medical. Options up to and including sales of the businesses are under consideration.
The soft outlook will have the most impact on the stock’s price in Tuesday’s trading, particularly because revenues for the fourth quarter and the year were both short of expectations. In our 2017 bull/bear case for health care stocks we noted that Johnson & Johnson’s total return for 2016 was about 15%, but that could fall to below 12% in 2017.
Shares closed at $113.91 on Monday and traded down about 1.7% in Tuesday’s premarket at $112.00. The stock’s 52-week range is $97.14 to $126.07. The 12-month consensus analyst price target of about $125.68 before this morning’s results were announced.
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Johnson & Johnson Earnings Beat, Revenue Miss
Jan 24, 2017 | The Financial
Johnson & Johnson on January 24 announced sales of $18.1 billion for the fourth quarter of 2016, an increase of 1.7% as compared to the fourth quarter of 2015. Operational sales results increased 2.3% and the negative impact of currency was 0.6%.
Domestic sales increased 2.6%. International sales increased 0.6%, reflecting operational growth of 1.9% and a negative currency impact of 1.3%. As a reminder, there were additional shipping days in the fourth quarter of 2015 that negatively impacted the current quarter by 480 basis points. Excluding the net impact of acquisitions, divestitures, hepatitis C, Venezuela, and the additional shipping days in 2015, on an operational basis, worldwide sales increased 7.6%, domestic sales increased 9.5% and international sales increased 5.6%.
Worldwide sales for the full-year 2016 were $71.9 billion, an increase of 2.6% versus 2015. Operational results increased 3.9% and the negative impact of currency was 1.3%. Domestic sales increased 6.0%. International sales decreased 0.9%, reflecting operational growth of 1.8% and a negative currency impact of 2.7%. The additional shipping days in 2015 negatively impacted the current year by 130 basis points. Excluding the net impact of acquisitions, divestitures, hepatitis C, Venezuela, and the additional shipping days in 2015, on an operational basis, worldwide sales increased 7.4%, domestic sales increased 8.9% and international sales increased 5.7%, according to Johnson & Johnson.
Net earnings and diluted earnings per share for the fourth quarter of 2016 were $3.8 billion and $1.38, respectively. Fourth-quarter 2016 net earnings included after-tax intangible amortization expense of approximately $0.3 billion and a net charge for after-tax special items of approximately $0.3 billion. Fourth-quarter 2015 net earnings included after-tax intangible amortization expense of approximately $0.2 billion and a net charge for after-tax special items of approximately $0.6 billion. Excluding after-tax intangible amortization expense and special items, adjusted net earnings for the current quarter were $4.4 billion and adjusted diluted earnings per share were $1.58, representing increases of 7.9% and 9.7%, respectively, as compared to the same period in 2015. On an operational basis, adjusted diluted earnings per share also increased 10.4%. A reconciliation of non-GAAP financial measures is included as an accompanying schedule.
Net earnings and diluted earnings per share for the full-year 2016 were $16.5 billion and $5.93, respectively. Full-year net earnings included after-tax intangible amortization expense of approximately $0.9 billion and a charge for after-tax special items of approximately $1.3 billion. Full-year 2015 net earnings included after-tax intangible amortization expense of approximately $1.1 billion and a charge for after-tax special items of approximately $0.9 billion. Excluding after-tax intangible amortization expense and special items, adjusted net earnings for the full-year of 2016 were $18.8 billion and adjusted diluted earnings per share were $6.73, representing increases of 7.6% and 8.5%, respectively, as compared to the same period in 2015. On an operational basis, adjusted diluted earnings per share also increased 9.4%. A reconciliation of non-GAAP financial measures is included as an accompanying schedule.
“We are pleased to report that we accelerated our adjusted growth for 2016 over the prior year, and delivered a strong total shareholder return of greater than 15 percent. The strong adjusted sales and EPS growth was driven by the impressive performance of our Pharmaceutical business and continued momentum in our Medical Device business and share gains while improving profitability in our Consumer business,” said Alex Gorsky, Chairman and Chief Executive Officer. “Looking forward to 2017, we expect to continue driving sustainable, long-term growth through the new products, science and innovation that our talented colleagues and partners of Johnson & Johnson are advancing to positively impact human health.”
The Company announced its 2017 full-year guidance for sales of $74.1 billion to $74.8 billion reflecting expected operational growth in the range of 4.0% to 5.0%. Excluding the impact of acquisitions and divestitures, operational sales growth is expected to be in the range of 3.0% to 3.5%.* Additionally, the Company announced adjusted earnings guidance for full-year 2017 of $6.93 to $7.08 per share reflecting expected operational growth in the range of 4.8% to 7.0%. Adjusted earnings guidance excludes the impact of after-tax intangible amortization expense and special items.
Additionally, as part of the Company’s ongoing portfolio management, the Company is announcing it is engaging in a process to evaluate potential strategic options for the Johnson & Johnson Diabetes Care Companies, specifically LifeScan, Inc., Animas Corporation, and Calibra Medical, Inc. Strategic options may include the formation of operating partnerships, joint ventures or strategic alliances, a sale of the businesses, or other alternatives either separately or together. All options will be evaluated to determine the best opportunity to drive future growth and maximize shareholder value. There can be no assurance that this process will result in any transaction or other strategic alternative of any kind.
Worldwide Consumer sales of $13.3 billion for the full-year 2016 represented a decrease of 1.5% versus the prior year, consisting of an operational increase of 1.5% and a negative impact from currency of 3.0%. Domestic sales increased 3.8%; international sales decreased 4.8%, which reflected an operational increase of 0.1% and a negative currency impact of 4.9%. Excluding the net impact of acquisitions, divestitures, Venezuela, and the additional shipping days in 2015, on an operational basis, worldwide sales increased 4.3%, domestic sales increased 5.6% and international sales increased 3.4%.
Worldwide operational results, excluding the net impact of acquisitions and divestitures, were driven by over-the-counter products, including TYLENOL analgesics, digestive health products and anti-smoking aids; NEUTROGENA and AVEENO beauty products and LISTERINE oral care products.
Worldwide Pharmaceutical sales of $33.5 billion for the full-year 2016 represented an increase of 6.5% versus the prior year with an operational increase of 7.4% and a negative impact from currency of 0.9%. Domestic sales increased 9.8%; international sales increased 1.8%, which reflected an operational increase of 4.0% and a negative currency impact of 2.2%. Excluding the net impact of acquisitions, divestitures, hepatitis C, Venezuela, and the additional shipping days in 2015, on an operational basis, worldwide sales increased 11.5%, domestic sales increased 13.8% and international sales increased 8.3%.
Worldwide operational results, excluding the net impact of acquisitions, divestitures and hepatitis C sales, were driven by new products and the strength of core products. Strong growth in new products include IMBRUVICA (ibrutinib), an oral, once-daily therapy approved for use in treating certain B-cell malignancies, a type of blood or lymph node cancer; DARZALEX (daratumumab), for the treatment of patients with multiple myeloma; XARELTO (rivaroxaban), an oral anticoagulant and INVOKANA/INVOKAMET (canagliflozin), for the treatment of adults with type 2 diabetes.
Additional contributors to operational sales growth included STELARA (ustekinumab), REMICADE (infliximab) and SIMPONI/SIMPONI ARIA (golimumab), biologics approved for the treatment of a number of immune-mediated inflammatory diseases; INVEGA SUSTENNA/XEPLION/TRINZA (paliperidone palmitate), long-acting, injectable atypical antipsychotics for the treatment of schizophrenia in adults and EDURANT (rilpivirine) for the treatment of HIV.
Sales results were negatively impacted by generic entrants for ORTHO TRI-CYCLEN LO (norgestimate/ethinyl estradiol) oral contraceptive and INVEGA (paliperidone palmitate), long-acting, injectable atypical antipsychotics for the treatment of schizophrenia in adults.
During the quarter, the U.S. Food and Drug Administration (FDA) approved DARZALEX (daratumumab) in combination with lenalidomide and dexamethasone, or bortezomib and dexamethasone, for the treatment of patients with multiple myeloma who have received at least one prior therapy. The European Commission approved STELARA for the treatment of adults with moderately to severely active Crohn's disease. Subsequent to the quarter, in January, the FDA approved IMBRUVICA (ibrutinib) for the treatment of patients with marginal zone lymphoma who require systemic therapy and have received at least one prior anti-CD20- based therapy.
Additionally, regulatory applications for approval were submitted to the FDA and European Medicines Agency (EMA) for guselkumab for the treatment of adults living with moderate to severe plaque psoriasis. Regulatory applications for approval were also submitted to the FDA for SIMPONI ARIA (golimumab) for the treatment of adults living with active psoriatic arthritis and the treatment of adults living with active ankylosing spondylitis and for STELARA (ustekinumab) for the treatment of adolescents (12 to 17 years of age) with moderate to severe plaque psoriasis.
Worldwide Medical Devices sales of $25.1 billion for the full-year 2016 represented a decrease of 0.1% versus the prior year consisting of an operational increase of 0.9% and a negative currency impact of 1.0%. Domestic sales increased 1.1%; international sales decreased 1.2%, which reflected an operational increase of 0.7% and a negative currency impact of 1.9%. Excluding the net impact of acquisitions, divestitures, Venezuela and the additional shipping days in 2015, on an operational basis, worldwide sales increased 3.8%, domestic sales increased 2.9% and international sales increased 4.7%.
Worldwide operational results, excluding the net impact of acquisitions and divestitures, were driven by electrophysiology products in the Cardiovascular business; endocutters, energy and biosurgicals in the Advanced Surgery business; ACUVUE contact lenses in the Vision Care business; and joint reconstruction and trauma products in the Orthopaedics business.
During the quarter, the FDA approved OneTouch Vibe Plus Insulin Pump and Continuous Glucose Monitoring System for the treatment of patients age two and older living with diabetes.
Also during the quarter, the purchase of expandable cage technologies for spinal fusion was completed, and a development agreement was entered into, with Interventional Spine, Inc.
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Johnson & Johnson, Lockheed Martin Corporation Shares Fall After Weak Outlooks
Jan 24, 2017 | Value Walk
By Michelle Jones
Lockheed Martin and Johnson & Johnson released their latest earnings reports before opening bell this morning. Lockheed Margin reported adjusted earnings of $3.25 per share on $13.75 billion in revenue. Analysts had been expecting the defense contractor and airplane manufacturer to report $3.05 per share in earnings and $13.03 billion in revenue. In last year’s fourth quarter, the company reported $11.52 billion in revenue.
Johnson & Johnson reported $1.58 per share in adjusted earnings, marking a 9.7% year over year increase, and $18.11 billion in revenue. Analysts had been expecting the consumer products company to report $1.56 per share in adjusted earnings and $18.26 billion in revenue. In the previous year’s fourth quarter, the company posted $17.81 billion in revenue.
Lockheed Martin shares fall
Lockheed Martin said aeronautics sales rose to $5.41 billion from $4.38 billion in the same quarter a year ago. The company’s GAAP earnings rose to $3.35 per share from $3.01 per share in the year-ago quarter.
Lockheed Martin expects revenue for this year to be between $49.4 billion and $50.6 billion, compared to the consensus of $49.6 billion. It expects earnings to fall between $12.25 and $12.55 per share, compared to the consensus of $12.88 per share.
Shares of Lockheed Martin declined by as much as 1.47% to $253.70 in premarket trading this morning.
Johnson & Johnson shares fall
Johnson & Johnson’s net earnings rose to $1.38 per share from $1.15 per share in the fourth quarter of 2015. Domestic sales rose 2.6% year over year, while international sales ticked upward by 0.6% on the back of currency headwinds amounting to 1.3%. Consumer sales rose 3.4% to $3.4 billion in the fourth quarter, while Pharmaceutical sales rose 2.1% to $8.2 billion. Medical Devices sales increased -.2% to $6.4 billion.
The company’s 2017 full-year sales outlook stands between $74.1 billion and $74.8 billion, marking between 4% and 5% operational growth. Johnson & Johnson expects adjusted earnings to be between $6.93 and $7.08 per share for the full year.
Johnson & Johnson shares ticked downward by as much as 1.67% to $112.01 in premarket trades.
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J&J (JNJ) Q4 Earnings Top; Seeks Options for Diabetes Unit
Jan 24, 2017 | Zack's Equity Research
Johnson & Johnson (JNJ - Free Report) reported a rather mixed fourth quarter, with earnings beating expectations while sales missing the same. Moreover, the healthcare giant issued guidance for 2017 and announced that it is looking for strategic options for its diabetes care division. Shares declined around 1.7% in pre-market trading.
In the past one year, J&J’s share price was up 18.1%. This compares favorably with the 1.7% decrease witnessed by the Zacks classified Large-Cap Pharma industry.
Earnings Beat
The healthcare giant’s fourth-quarter 2016 earnings came in at $1.58 per share, beating the Zacks Consensus Estimate of $1.56 by 1.28% and increasing 9.7% from the year-ago period.
Including one-time items, J&J reported fourth-quarter earnings of $1.38 per share, up 20% from the year-ago period.
Sales Miss
Sales came in at $18.11 billion, slightly missing the Zacks Consensus Estimate of $18.12 billion. Sales increased 1.7% from the year-ago quarter, reflecting an operational increase of 2.3% and a negative currency impact of 0.6%. However, a lower number of shipping days in the quarter hurt sales by 480 basis points (bps).
Fourth-quarter sales grew 2.6% in the domestic market to $9.54 billion and 0.6% in international markets to $8.57 billion, reflecting 1.9% operational growth, partially offset by a 1.3% negative currency impact.
Sales in Details
The Pharmaceutical segment sales grew 2.1% year over year to $8.2 billion, reflecting 2.6% operational growth and a 0.5% negative currency impact.
Sales in the domestic market increased 1.9% to $5 billion, while international sales grew 2.4% to $3.23 billion.
New products like Imbruvica, Xarelto and Darzalex continued to perform well. Other growth drivers were Stelara, Invega Sustenna and Simponi.
However, the hepatitis C virus (HCV) treatment Olysio continued to feel the impact of additional competition with sales declining 77.3% from the year-ago quarter. Invega sales also declined due to generic competition. Invokana/Invokamet sales declined 0.3% and Zytiga sales fell 10.7%.
Importantly, sales of the blockbuster rheumatoid arthritis drug Remicade, marketed in partnership with Merck & Co., Inc. (MRK - Free Report) , declined 3.3% in the quarter with U.S. sales declining 1.7%. In this regard, we would like to mention that Pfizer Inc. (PFE - Free Report) launched its Inflectra injection, a biosimilar version of Remicade in the U.S., late last November. This posed strong competition to Remicade. Meanwhile, the biosimilar competition for Remicade had already entered several major EU markets in Feb 2015.
J&J’s Pharma segment also achieved some clinical milestones during the quarter including label expansion for products like Stelara and Darzalex.
The Medical Devices segment sales came in at $6.44 billion, up 0.2% from the year-ago period comprising an operational increase of 0.6% and negative currency movement of 0.4%.
Sales in the domestic market declined 0.1% year over year to $3.15 billion. International market sales inched up 0.6% year over year to $3.29 billion.
The Consumer segment recorded revenues of $3.43 billion in the reported quarter, up 3.4% from the fourth quarter of 2015. Foreign currency movement negatively impacted sales in the segment by 1.5%. Sales in the domestic market grew 12.7% from the year-ago period to $1.39 billion.
Meanwhile, the international segment recorded a decline of 2.1% to $2.05 billion, reflecting an operational increase of 0.2% and a negative currency impact of 1.5%.
2016 Results
Full-year 2016 sales rose 2.6% to $71.89 billion, falling slightly short of the Zacks Consensus Estimate of $71.92 billion.
Adjusted earnings for 2016 were $6.73 per share, above the Zacks Consensus Estimate of $6.71 and up 8.5% year over year. Earnings were in line with the guidance range of $6.68–$6.73 per share.
2017 Guidance
J&J expects adjusted earnings per share in the range of $6.93 to $7.08 in 2017. The Zacks Consensus Estimate is pegged at $7.06 per share. The earnings guidance reflects expected operational growth in the range of 4.8% to 7.0%.
The revenue guidance is in the range of $74.1 billion to $74.8 billion, reflecting operational growth in the range of 4.0% to 5.0%. The Zacks Consensus Estimate is $74.61 billion.
Possible Divesture of Diabetes Business
J&J announced that it is evaluating “potential strategic options” for its diabetes care unit. The suitors include LifeScan, Inc., Animas Corporation, and Calibra Medical, Inc. It may form partnerships, joint ventures or strategic alliances, or sell these businesses either separately or together.
Johnson & Johnson Price, Consensus and EPS Surprise
The company carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Our Take
This was the first sales miss for J&J in the past one year. Though the Pharmaceutical segment is performing well, the Medical Device segment continues to lag due to slowing demand. However, Consumer segment sales improved in the quarter. Nonetheless, we believe contribution from new as well as core products, share buybacks and the restructuring initiative will drive results going forward.
However, J&J made no mention of a possible transaction with Swiss biotechnology company Actelion Ltd. (ALIOF - Free Report) . In Dec 2016, J&J said it approached Actelion with a takeover offer.
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Johnson & Johnson (NYSE:JNJ) Shares Declines -1.57% Tuesday’s Premarket
Jan 24, 2017 | Benchmark Monitor
Johnson & Johnson (NYSE:JNJ) reported Q4 EPS of $1.58, $0.02 better than the analyst estimate of $1.56. Revenue for the quarter came in at $18.1 billion versus the consensus estimate of $18.28 billion.
Johnson & Johnson (NYSE:JNJ) traded 7.3 Million shares and was closed at $113.91 per share. The current share price indicates that stock is -8.41% away from its one year high and is moving 24.24% ahead of its one year low. Stock monthly performance is recorded as -1.51% while its performance in last 5 sessions is -0.60%.
Analyst’s Analysis on Johnson & Johnson (NYSE:JNJ)
At the movement stock is under coverage by number of analysts. 5 given Buy rating to the stock whereas no analyst given UNDERPERFORM rating to stock and 14 analysts given HOLD rating. The consensus recommendation by Thomson Reuters analysts is Outperform and their mean rating for the stock is 2.39 on scale of 1-5. Analysts mean target price for Johnson & Johnson (NYSE:JNJ) is $125.16 while their mean recommendation is 2.50 (1=Buy, 5=sell).
Marathon Petroleum Corporation (NYSE:MPC) announced a series of steps to increase its stock price, including the possible separation of its Speedway retail business, amid pressure from hedge fund Elliott Management.
Marathon Petroleum Corporation (NYSE:MPC) shares moved to $48.72 after starting the day at $48.56 on Monday. Weekly volatility of MPC is 2.01% and monthly volatility is 2.31%. Stock performance in last five sessions is recorded as 0.70% while year to date (YTD) performance is -3.24%. MPC Gross Margin is 10.10% and its return on assets is 2.60%. Stock 3 months performance is recorded as 14.11%.
Analyst Rating on Marathon Petroleum Corporation (NYSE:MPC)
Number of analysts are covering this stock and currently stock has got OUTPERFORM rating from 7 analysts of Thomson Reuters, 3 analysts given HOLD rating to the stock and 0 given UNDERPERFORM rating. Analyst’s mean target price for MPC is $62.00 while analysts mean recommendation is 1.70.
Steel Dynamics, Inc. (NASDAQ:STLD) traded 4.07 Million shares and was closed at $35.50 per share. The current share price indicate that stock is -11.29% away from its one year high and is moving 132.55% ahead of its one year low. Stock monthly performance is recorded as -5.18% while its performance in last 5 sessions is -0.92%.
Analyst’s Analysis on Steel Dynamics, Inc. (NASDAQ:STLD)
At the movement stock is under coverage by number of analysts. At the movement stock is under coverage by number of analysts. 5 given Buy rating to the stock whereas no analyst given UNDERPERFORM rating to stock and 4 analysts given HOLD rating. The consensus recommendation by Thomson Reuters analysts is Outperform and their mean rating for the stock is 1.94 on scale of 1-5. Analysts mean target price for Steel Dynamics, Inc. (NASDAQ:STLD) is $39.00 while their mean recommendation is 2.10 (1=Buy, 5=sell).
Microsoft Corporation (NASDAQ:MSFT) shares moved to $62.96 after starting the day at $62.70 on Monday. Weekly volatility of MSFT is 0.97% and monthly volatility is 1.15%. Stock performance in last five sessions is recorded as 0.41% while year to date (YTD) performance is 1.32%. MSFT Gross Margin is 60.90% and its return on assets is value missing. Firm quarterly performance is 10.72%.
Analyst Recommendation on Microsoft Corporation (NASDAQ:MSFT)
Number of analysts are covering this stock and currently stock has got OUTPERFORM rating from 15 analysts of Thomson Reuters, 8 analysts given HOLD rating to the stock and 2 given UNDERPERFORM rating to Microsoft Corporation (NASDAQ:MSFT) stock. Analyst’s mean target price for MSFT is $66.33 while analysts mean recommendation is 2.10.
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Johnson & Johnson plans more price transparency; eyes U.S. tax, healthcare changes
Jan 24, 2017 | Reuters
By Bill Berkot
Johnson & Johnson's (JNJ.N) chief executive officer said on Tuesday that responsible drug pricing is a priority and discussed changes he would like to see on the U.S. tax code and healthcare policy, one day after meeting with President Donald Trump.
The diversified healthcare group got off to a rocky start to the year, forecasting 2017 sales and profit below Wall Street estimates and reporting 2016 fourth-quarter sales short of expectations. J&J shares fell 2.1 percent to $111.52
It also said it was reviewing strategic options, including the possible sale, for some diabetes care businesses.
High prices for prescription medicines have come under extreme criticism from health insurers and politicians, and J&J was the first major healthcare company to report results since Trump's scathing remarks on the subject.
J&J said it has generally limited annual product price increases to the single digits in percentage terms, something other companies have begun to pledge to do.
"It's important to price responsibly. We believe that has been our practice," CEO Alex Gorsky said on a conference call.
The company is planning to release what it is calling a pharmaceutical transparency report. It will include expanded disclosures on U.S. pricing, research and development expenses, and compassionate care programs, Gorsky said.
Lack of transparency in how companies price medicines has been a major sore point among industry critics.
'DEGREE OF CONSERVATISM'
Gorsky was among business leaders who met with Trump on Monday in Washington, and on Tuesday outlined his priorities, including lower taxes to help U.S. companies better compete with overseas rivals and being allowed to bring back cash held abroad at a lower tax rate.
With Congress and Trump determined to repeal and replace the Affordable Care Act (ACA), Gorsky said he hoped any new plan would retain health coverage for people with pre-existing conditions. He would also like to see a continued move toward value-based care and a focus on wellness and preventive care.
J&J said it did not see a significant business uptick as a result of former President Barack Obama's health care law, commonly referred to as Obamacare, and does not expect changes to have a negative effect.
It said current fees and costs associated with the law were included in its 2017 forecasts.
J&J forecast 2017 adjusted earnings of $6.93 to $7.08 per share on revenue of $74.1 billion to $74.8 billion, below the average analyst estimate for a profit of $7.11 per share on revenue of $75.10 billion.
"We think the outlook reflects a degree of conservatism rather than a reflection of caution on fundamentals," Barclays analyst Geoff Meacham said in a research note.
The company said it expected a slower growth rate for pharmaceuticals this year.
Gorsky declined to comment on J&J's exclusive talks to buy Actelion Ltd (ATLN.S), Europe's biggest biotech, but said the $4.3 billion acquisition of Abbott Laboratories' (ABT.N) eye-care business would likely close this quarter.
The company is looking into a potential sale, partnerships or other options for LifeScan Inc, Animas Corp and Calibra Medical Inc, units that sell blood glucose monitoring and insulin delivery devices. Diabetes devices had sales of $462 million for the quarter and were down 7.2 percent in 2016.
The review does not involve J&J's big-selling diabetes drugs.
Fourth-quarter sales rose 1.7 percent to $18.11 billion, shy of the average analyst estimate of $18.28 billion, according to Thomson Reuters I/B/E/S.
Excluding items, J&J earned $1.58 per share, beating the average estimate by 2 cents.
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(UPDATE-2) Johnson & Johnson CEO says some Obamacare provisions should be kept
Jan 24, 2017 | Bloomberg
By Jared S Hopkins
Johnson & Johnson Chief Executive Officer Alex Gorsky, the head of world's largest health-care company, called for keeping some provisions of Obamacare intact as President Donald Trump and Republicans move to repeal the law.
Gorsky, who was among a dozen top business leaders who met with Trump Monday on his first full working day as president, said Tuesday he will advocate to keep coverage of pre-existing conditions and people staying on their parents' insurance until they are 26, as well as a competitive individual insurance market.
J&J also supports moving toward value-based health care, whereby prices for drugs and services are based on the quality of care.
"We hope lawmakers take the same cooperative spirit, putting patients first as we move through debate about the future of our health-care system," Gorsky said on a conference call about the drugmaker's fourth-quarter results.
The call was the first opportunity for analysts and investors to question a major drugmaker on its priorities under the new administration, after Trump surprisingly attacked the industry on high drug prices and moved toward undoing the health-care law created by his predecessor. Gorsky said it's important that the industry explains how its products help lower the overall cost of health care.
Earlier in the day, J&J gave a 2017 profit forecast that was lower than analysts anticipated, blaming the impact of the stronger dollar, as negotiations drag into weeks with Swiss biotechnology company Actelion, potentially its largest deal ever. J&J is in exclusive talks with Actelion, a maker of drugs for pulmonary arterial hypertension that has a market value of about $24 billion.
While the companies tentatively agreed on a price, people with knowledge of the matter said earlier this month that the discussions continued on valuing a new unit that would house Actelion's research and development assets. J&J said the talks are ongoing, declining to comment specifically on the deal.
J&J shares fell as much as 2.4 percent, the biggest intraday drop since Dec. 7.
Trump has suggested the government should negotiate for better drug prices, a move long opposed by the industry and Republican lawmakers.
"It's incumbent upon us as an industry to price responsibly," Gorsky said on the call. "We have attempted to do that. We believe that has in fact been our practice."
New Brunswick, New Jersey-based company -- whose businesses include consumer brands like Johnson's baby care and Neutrogena as well as medical devices -- didn't see an uptick in business after the Affordable Care Act was passed in 2010, according to Chief Financial Officer Dominic Caruso. A reversal won't hurt the company's margins, the CFO said.
Without clarity on what will replace Obamacare, there are concerns that the 20 million people who gained insurance under the program may lose coverage. J&J incurred about $1.4 billion in costs related to the ACA, including drug fees and rebates. While J&J is waiting to see if these costs, as well as a deferred medical device tax, will remain under any policy changes, they have been factored into the 2017 guidance, Caruso said.
The CEO meeting with Trump on Monday wasn't focused on health care but rather on growing the economy, Gorsky said, adding he is optimistic that tax reform will happen.
While talks with Actelion are ongoing, Gorsky said he will continue to pursue opportunities to deploy capital that would improve shareholder value. In recent years, J&J has been expanding its pharmaceuticals business to offset slower growth in consumer products and medical devices. As its blockbuster arthritis treatment Remicade faces new competition in the U.S. from a cheaper version of the product, called a biosimilar, J&J has been looking to expand into new drug categories.
Larger deals of more than $1 billion have generally been more challenging and J&J has preferred to focus on smaller ones. J&J also said Tuesday it is exploring potential opportunities for its diabetes device units, which Caruso said in a phone interview have been hit by price declines in recent years.
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Johnson & Johnson CFO Caruso: 'Pleased With the Results'
Jan 24, 2017 | The Street
By Giovanni Bruno
Shares of Johnson and Johnson (JNJ) were sinking Tuesday afternoon, after the company reported fiscal 2016 fourth quarter earnings results prior to Tuesday's open.
Johnson and Johnson posted earnings of $1.58 per share on revenue of $18.11 billion. While beating analysts' projections for EPS of $1.56), the company missed on revenue of $18.26 billion.
"We thought our earnings were very strong for the year and we are very pleased with the results. We grew our top line at an accelerated rate vs. the prior year," Johnson & Johnson CFO Dominic Caruso told CNBC's "Squawk Box" Tuesday morning. "We had very strong EPS growth of about 8.5%, and we delivered very strong total shareholder return for 2016, in excess of 15%."
Furthermore, Caruso said the company is "excited" about the momentum Johnson & Johnson has moving into 2017. However, despite Caruso's excitement, the stock has been in decline during Tuesday's session.
"If you look at consensus estimates, we noticed that not many of the analysts that follow us have updated their projections for 2016 based on the recent currency movement," Caruso noted. "We are reporting based on real currency movements. We think that is the only area of any significant difference between our results and expectations."
Entering 2017, Caruso noted that Johnson and Johnson has revised its models to reflect the current currency rates. "Not all of the investment community has done that," he said. "We think that is really the only difference between our expectations and theirs."
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Key J&J key meds disappoint in Q4, triggering a top-line miss
Jan 24, 2017 | FiercePharma
By Arlene Weintraub
Johnson & Johnson is facing a variety of strong headwinds across its business lines, from currency fluctuations to generic competition on some of its previous blockbusters. But perhaps more alarming to investors is that in Q4, its newer pharma products—including Invokana and Imbruvica—couldn't bail the company out.
J&J said Tuesday that its sales in the quarter rose 1.7% to $18.1 billion, missing the consensus analyst estimate of $18.2 billion. Earnings came in at $4.4 billion excluding some amortization expenses and special items, or $1.58 per share. That figure slightly exceeded expectations, though the company seems to have benefited from a lower-than-expected tax rate in the U.S. The company’s shares fell 2% when the market opened to $111.58.
Sales in the company’s Diabetes Care unit dropped 3.8% year-over-year during the quarter to $462 million and were down 7.2% for the year to $1.8 billion—no doubt contributing to the company’s announcement that it has launched “a process to evaluate potential strategic options” for the business. The unit includes blood-glucose meter maker LifeScan, insulin pump developer Animas and Calibra Medical, which developed an insulin patch.
During a conference call with analysts after the earnings release, CFO Dominic Caruso said the decision to consider alternatives for the diabetes unit was part of a regular business review that J&J routinely does to “look at various aspects of the business we think are either better in someone else’s hands or we can get more value from our shareholders through a divestiture. Of course we’ll reinvest as appropriate in the business.”
J&J’s willingness to pull back on diabetes devices is a bit surprising, considering its recent investments there, particularly in Calibra. The company bought Calibra in 2012 and had been preparing to launch its Finesse mealtime insulin patch.
The company remains committed to diabetes, the company’s executives said during the call, mentioning products such as Invokana for the treatment of the type 2 form of the disease. But sales of that product came in flat in the fourth quarter at $371 million. That was disappointing to analysts such as Geoffrey Porges at Leerink, who released a note to investors on Tuesday naming the drug as one of many underperformers leading to “tepid Q4 sales” and a prediction that investors in biopharma “are unlikely to be very encouraged by this announcement.” The company’s cancer drugs Imbruvica and Velcade also came in below expectations.
The diabetes industry is becoming increasingly competitive, and proving to be a continuing challenge for several companies, not just J&J. Eli Lilly, for example, failed to live up to expectations in the third quarter last year after sales of its diabetes blockbuster Humalog slipped 9%.
J&J investors are counting on strategic mergers and acquisitions to help drive growth going forward. The company confirmed it is still in takeover discussions with Swiss drugmaker Actelion Pharmaceuticals, which makes drugs to treat pulmonary arterial hypertension. J&J declined to discuss particulars, but investors in Actelion are expecting J&J’s bid to exceed $26 billion, despite disappointing clinical trial news Monday on Actelion’s drug Opsumit.
During the conference call, J&J CEO Alex Gorsky also mentioned his participation in a meeting between business executives and President Donald Trump that happened Monday. “We had a productive conversation about accelerating growth in jobs in the United States. We look forward to continuing that dialogue,” he said. He added that J&J plans to advocate for a replacement to the Affordable Care Act that maintains coverage for people with pre-existing conditions and adult children who are under their parents’ insurance plans. J&J will also advocate for value-based healthcare and reforms that encourage wellness and provide incentives for consumers to engage in healthy behaviors, he said.
Gorsky said J&J will also advocate for modernizing the U.S. tax code. “The U.S. tax code for business is outdated,” he said. “In many cases it makes the U.S. a more costly place to do business, leaving U.S. workers and the U.S. economy at a disadvantage. We are very encouraged by the proposals currently in discussion and will support business tax policy that’s competitive with most developed countries and encourages innovation and growth.” The company is also in favor of allowing companies to bring cash that’s held abroad back into the U.S. at “a more competitive tax rate,” he said.
But Gorsky knows it’s too soon to count on Trump and the new administration to champion business-friendly tax changes. At the J.P. Morgan Healthcare Conference earlier this month, Gorsky warned biopharma executives that their tax rates might actually go up, depending on how any changes are implemented.
When asked during the earnings call what Trump might be planning to do to resolve controversies over high drug prices, Gorsky said J&J has already made promises to be more transparent about its pricing practices. “I remain confident that in the long run, the most important thing we can do is continue to bring innovative products to market to make a big difference for patients and consumers, and that’s what we’re going to be focused on doing,” he said. J&J recently signed on for a Medicare project that focuses on value-based pricing.
J&J’s goal is to return to above-market growth by the second half of the year, executives said during the call. No doubt disappointed investors will be watching closely to see how changes in Washington impact the pharma giant’s efforts to get its growth back on track.
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(UPDATE-1) The Street: Johnson & Johnson CEO Talks Trump, M&A After Mixed Earnings
Jan 24, 2017 | The Street
By Alicia McElhaney
Johnson & Johnson's (JNJ) shares are down 2% Tuesday at $111.50 after the company released mixed end-of-year earnings for fiscal year 2016.
The pharmaceutical and medical device company had announced better-than-expected earnings but worse-than-expected revenue and a review of strategic options for its diabetes care unit.
The company's CEO, Alex Gorsky, also discussed his Monday meeting with President Donald Trump, which he said focused more on overall economic growth than the future of health care.
He called the conversation with Trump "productive" and noted that it focused on jobs in the U.S. and abroad. Gorsky also reiterated his support for a more competitive tax rate for repatriation of cash from abroad to the U.S. J&J, which is working to complete a $26 billion acquisition of Actelion (ALIOF) , could benefit hugely from repatriation. Gorsky previously voiced support a change in the tax rate during the J.P. Morgan Healthcare Conference earlier this month.
Additionally, Gorsky highlighted investments in manufacturing within the United States during the call, likely a nod to the president's staunch stance on U.S.-made products.
Gorsky also provided further guidance on the company's plans for M&A in the coming months. He declined to comment on the company's acquisition of Actelion.
However, he was willing to chat about the company's strategic review of its diabetes care unit. The strategic review includes its LifeScan, Animas and Calibra Medical divisions. In 2016, the units drew in $462 million in revenue, down from $480 million in 2015. "These are very good businesses but perhaps they're better in someone else's portfolio," Gorsky said.
He added that J&J is still very interested in diabetes but the company just needs to determine if these three specific divisions still fit in with JNJ's mission. JNJ divested eight business segments in 2016.
Gorsky said J&J plans to work on bolt-on, early licensing deals, which in the past have been successful for the company.
"We do look at large opportunities," Gorsky said. "We have broad discussions about that with the board. The large transactions by their very nature tend to be more challenging...We've found it to be more successful to take the early stage, smaller companies."
J&J said earnings for the three months ended in December, excluding special items, came in at $1.58 a share, compared to consensus estimate of $1.56 per share. Revenue for the quarterly period came in at $18.1 billion, the company said, below estimates of $18.26 billion for the quarter.
Adjusted 2017 earnings forecasts were set at between $6.93 and $7.08 a share, well shy of analysts' estimates of $7.11. Revenue forecasts were set at $74.1 billion to $74.8 billion, short of forecasts of $75.1 billion.
"We thought our earnings were very strong for the year and we are very pleased with the results. We grew our top line at an accelerated rate vs. the prior year," Johnson & Johnson CFO Dominic Caruso told CNBC's "Squawk Box" Tuesday morning. "We had very strong EPS growth of about 8.5%, and we delivered very strong total shareholder return for 2016, in excess of 15%."
Furthermore, Caruso said the company is "excited" about the momentum Johnson & Johnson has moving into 2017. However, despite Caruso's excitement, the stock has been in decline during Tuesday's session.
"If you look at consensus estimates, we noticed that not many of the analysts that follow us have updated their projections for 2016 based on the recent currency movement," Caruso noted. "We are reporting based on real currency movements. We think that is the only area of any significant difference between our results and expectations."
Entering 2017, Caruso noted that Johnson and Johnson has revised its models to reflect the current currency rates. "Not all of the investment community has done that," he said. "We think that is really the only difference between our expectations and theirs."
Johnson & Johnson has a market cap of $303.67 billion as of Tuesday.
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J&J earnings disappoint, with no word on Actelion deal
Jan 24, 2017 | BioPharma Dive
By Ned Pagliarulo
Johnson & Johnson will expand its disclosures on drug pricing and R&D expenses, sketching the outlines of a planned transparency report to be released later this year on a fourth-quarter earnings call with analysts Tuesday morning.Company CEO Alex Gorsky touted J&J's "responsible approach" to pricing, noting it has generally increased prices at a rate lower than its peers and restricted hikes to single digits.
The pharma giant offered no comments on ongoing negotiations with Swiss biotech Actelion over a potential takeover, leaving investors to focus on fourth-quarter revenue figures which came in below market expectations at $18.1 billion.
Dive Insight:
Big pharma seems to have coalesced around limiting annual drug price increases to below 10%, with a number of companies such as Allergan and AbbVie announcing pledges to limit hikes to single digits. While the optics of such increases are certainly better than the double-digit hikes commonly seen before, critics have questioned whether the limits will win pharma any friends in an economy still stuck around 2% inflation.
"We have maintained a responsible approach to pharmaceutical pricing, generally limiting aggregate annual price increases to single digit percentages, below those of our competitive set," said company CEO Alex Gorsky.
J&J's planned report will include further details on the company's pricing practices, R&D expenses and clinical data underpinning the value the company sees in its medicines, Gorsky said on Tuesday's call.
As the first major pharma to report earnings each quarter, J&J is often looked to as a barometer of the industry as a whole. Lower-than-expected top-line revenue and softer sales from J&J's pharmaceutical unit did not spark any market enthusiasm, however, with the company stock falling over 2% in early trading.
Total pharmaceutical revenues increased by 2.1% to $8.2 billion, driven by stronger performance in oncology and immunology. Higher sales of the anti-inflammation drugs Stelara (ustekinumab) and Simponi (golimumab) helped to offset slightly lower sales of top-earner Remicade (infliximab).
J&J said it hasn't yet seen a significant competitive impact from Pfizer and Celltrion's biosimilar of Remicade, which could steal market share from J&J over time.
Elsewhere, cancer drugs Darzalex (daratumumab) and Imbruvica (ibrutinib) continued to grow strongly.
But declining sales from J&J's infectious disease, neuroscience and cardiovascular segments weighed on overall pharma unit growth.
J&J also announced it is considering strategic options for its diabetes care division, which includes LifeScan, Inc., Animas Corp., and Calibra Medical, Inc. The subsidiaries make a number of diabetes-related devices, including glucose monitoring systems and insulin pumps. While Gorsky emphasized J&J's continued interest in diabetes (such as with Invokana), he said broader market dynamics including pricing prompted a hard look at the division.
J&J forecast 2017 sales between $74.1 billion and $74.8 billion, which again came in below market consensus for the company.
Sealing a deal for Actelion would certainly give a lift to revenues, although J&J would have to pay up. Reports from Reuters have indicated a deal could value Actelion (or some portion of it) at over $250 per share.
J&J said it had roughly $15 billion in net cash, with $27 billion in debt offsetting $42 billion in cash, equivalents and short-term marketable securities.
Deal or no deal, Gorsky indicated on the call that J&J would continue to look for other potential M&A opportunities. Yet, he seemed to downplay the idea of more "transformative" M&A in response to an analyst question, saying large transactions tend to be more challenging.
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J&J Needs a Fix for a Pharma Slowdown
Jan 24, 2017 | Bloomberg Gadfly
By Max Nisen
Anyone in biopharma hoping for Johnson & Johnson's fourth-quarter earnings to dispel their Trump-related gloom was disappointed Tuesday morning.
J&J's revenue missed expectations, and its 2017 profit guidance fell short. It's no time to panic; J&J's CFO chalked the guidance disappointment up to foreign-exchange issues. But the warning highlights how hard it is for a company of J&J's size to generate growth and why it is considering a big, complicated deal for Swiss biotech Actelion Ltd.
J&J PHARMA UNIT 2016 SALES GROWTH
6.5%
J&J declined to give an update on that deal -- which has been tottering short of the finish line for weeks -- during its earnings call Tuesday. Actelion shares fell 3.5 percent. But J&J's quarterly results suggest the deal will ultimately get done, if for no other reason than that J&J needs the growth.
Out Front
Johnson & Johnson's conglomerate model has served it well in a rocky year for the pharma industry
Despite already generating more than $8 billion in revenue per quarter, J&J's pharma business typically grows sales faster than its largest peers, only two of which generate more pharma revenue. It grew 6.5 percent for the full year. But the pharma unit's fourth quarter was the worst of the year in terms of growth; sales grew just 2.1 percent from a year earlier and fell sequentially for the second consecutive quarter. J&J acknowledged Tuesday that the unit's growth is likely to remain slow in 2017.Sales of Remicade, J&J's best-selling drug, fell 3.3 percent in the quarter from a year ago. A biosimilar competitor entered the U.S. market for the first time in November, and analysts expect its sales to decline from almost $7 billion in 2016 to $4.5 billion in 2020. Headwinds are set to grow for other mature drugs, such as Concerta and Invega. J&J's consumer and device units are important sources of diversification, making up a combined 53.5 percent of 2016 revenue. But consumer revenue fell and device sales were flat in 2016. And J&J announced Tuesday it is considering selling its diabetes-care businesses. The company expects better from its other units in 2017, but pharma is the crown jewel.
Ahead
Johnson & Johnson may have a tough time outgrowing the rest of its biggest peers in 2017. Year-over-year pharmaceutical unit sales growth
&J has some potential growth engines in medicines such as the recently approved Darzalex and Imbruvica, which recently had its approval expanded. It also has one of the healthiest pipelines in the business, with potential blockbusters guselkumab and sirukumab expected to launch this year. But these newer drugs will take time to gain traction.
Until then, J&J faces an unappealing period of softer growth. One potential fix? Get Actelion, with its $2.4 billion worth of rare-disease drug sales, to sign on the dotted line.
It won't be easy. The deal's delays have been driven partly by its size and complicated structure. But J&J has the motivation to get it done.
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Johnson & Johnson Takes A Hit After Mixed Q4 Report
Jan 24, 2017 | Benzinga
By Joel Elconin
Johnson & Johnson JNJ 2.1% shares are trading lower by $2.34 at $111.57 in Tuesday's session.
Investors are exiting the issue after a mixed Q4 report that had a Q4 EPS beat of $0.02 but with a slight miss for revenues. The company lowered FY 2017 EPS to $6.93-$7.08 versus estimates of $7.11.
After a lower open, it managed a brief bounce to $113.30 before continuing its move lower. So far, the ensuing decline has taken the issue to $111.15 and is attempting to rebound. That low coincides with its December 9 low $111.20.
Since making its all-time high in July 2016, the lowest level it has reached was in December at $109.32.
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3 ETFs to Buy If You're Impressed With Johnson & Johnson's Fourth Quarter
Jan 24, 2017 | The Street
By Chris Ciaccia
Johnson & Johnson's (JNJ) fourth-quarter results largely came in-line with Wall Street expectations, but investors were looking to see whether its Medical Devices unit can begin to provide growth in 2017.
The New Brunswick, N.J.-based company earned $1.58 a share, excluding items on $18.11 billion in revenue. Analysts surveyed by Yahoo! Finance expected the company to earn $1.56 a share on $18.28 billion in revenue for the fourth quarter.
In addition, J&J said it would divest its diabetes care option, as it looks to reconfigure its portfolio for future growth.
Shares were falling 2.3% to $111.28 in early Tuesday trading, following the results.
Barclays Capital Markets analyst Geoff Meacham expected to see a sequential uptick in the unit for the fourth-quarter at $6.4 billion, down 0.6% from the year ago quarter. That would've been up 3.7% from the third quarter, "as deductibles have typically been met at this point," Meacham noted. The analyst has a $125 price target on shares.
Investors have been looking for further clues on a potential acquisition of Swiss biopharmaceutical company Actelion Pharmaceuticals, following months of press reports.
Morgan Stanley analyst David R. Lewis noted that while the market for Actelion's key drug, Uptravi, which is used to treat pulmonary arterial hypertension (PAH), may be seen as having a limited market, that may not be the case.
"Further, J&J thinks long-term and management may see this market and asset as having a longer tail than investors perceive," Lewis wrote in a note to clients. "We see evidence this market is under penetrated but are mixed on the deal because break-even 4-year returns require aggressive cuts to justify the $28BN valuation cited in the recent media report - that would be a lot of capital to commit without addressing near-term growth concerns."
As was the case with the third-quarter, investors wanted to see any impact to Remicade (its rheumatoid arthritis and Crohn's disease drug) from competition, Wells Fargo analyst Larry Biegelsen noted.
Over the past 12 months, shares of Johnson & Johnson gained nearly 18% excluding dividends, compared to the near 19% gain in the S&P 500.
Here are three ETFs that may benefit if investors decide they ultimately like Johnson & Johnson's fourth-quarter results.
Health Care Select Sector SPDR Fund
The $13.5 billion Health Care Select Sector SPDR Fund ETF (XLV) has J&J make up 11.59% of its portfolio, charging investors an expense ratio of 0.15%.
Wells Fargo's Biegelsen wondered whether the company's earnings guidance for 2017 reaches high single digits. "We expect 2017 EPS guidance will reflect mid- to high-single digit growth, including both FX headwind and biosimilar Remicade competition," Biegelsen wrote to clients ahead of earnings.
Biegelsen has an outperform rating on J&J and a price target range between $127 and $129.
iShares U.S. Healthcare ETF
The $1.82 billion iShares U.S. Healthcare ETF (IYH) has J&J make up 11.04% of its portfolio, charging investors an expense ratio of 0.43%.
Morgan Stanley's Lewis noted that Actelion is a surprise potential target for J&J, citing its potential valuation and limited growth impact. However, with a potential deal looming, Lewis noted J&J's thinking might include "passable financial returns; an under diagnosed market and more meaningful clinical intersection." The firm has an equal weight rating and a $125 price target on shares.
Vanguard Health Care ETF
The $5.45 billion Vanguard Health Care ETF (VHT) has J&J make up 10.64% of its portfolio, charging investors an expense ratio of 0.10%.
Jefferies analyst Dr. Jeffrey Holford wanted to hear more on the company's acquisition strategy as it goes forward.
"With biosimilars and generics expected to drag the next few years, we expect JNJ will continue look to M&A to augment growth," Holford wrote in a note to clients. "Whilst this should ultimately drive better growth, we believe that investors will not reward the shares for this initially." Jefferies has a $110 price target and a hold rating on shares of J&J.
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Jan 24, 2017 | Barron's
By Ben Levisohn
Last month, Barron’s Reshma Kapadia argued that Johnson & Johnson (JNJ) “deserves more respect from Wall Street.” There’s no way that will happen if Johnson & Johnson keeps offering guidance like it did this morning. Leerink’s Geoffrey Porges and Bradley Canino explain why investors were disappointed today:
Drug industry bellwether, Johnson & Johnson, reported Q4 results today and provided initial financial guidance for 2017. Their top line results missed consensus by 1%, and their initial guidance is just under current consensus. On the drug side, Q4 revenue in the US grew by only 2% y/y, and by 3.7% outside the US, net of the effect of currency which was 1.5% negative…Overall the drug picture from Johnson & Johnson is one of tepid Q4, sales, and presumably cautious guidance for the segment. Most of the disappointments and weakness came from the US market, and the overall growth performance for the US business lagged the performance from international markets, both before and after currency. Investors in drug and biotech stocks are unlikely to be very encouraged by this announcement, although an associated restructuring could offer some encouragement.
Shares of Johnson & Johnson have dropped 2.3% to $$111.31 at 11:54 a.m. today.
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Johnson & Johnson (JNJ) Issues Quarterly Earnings Results
Jan 24, 2017 | Community Financial News
By Carolyn Dwyer
Johnson & Johnson (NYSE:JNJ) posted its quarterly earnings data on Tuesday. The company reported $1.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.56 by $0.02. The business had revenue of $18.10 billion for the quarter, compared to the consensus estimate of $18.28 billion. Johnson & Johnson had a net margin of 22.03% and a return on equity of 25.30%. The company’s revenue was up 1.7% compared to the same quarter last year. During the same period last year, the firm posted $1.44 earnings per share. Johnson & Johnson updated its FY17 guidance to $6.93-7.08 EPS.
Johnson & Johnson (NYSE:JNJ) opened at 113.91 on Tuesday. The stock has a 50 day moving average of $114.83 and a 200-day moving average of $118.00. The firm has a market capitalization of $309.90 billion, a PE ratio of 19.99 and a beta of 0.72. Johnson & Johnson has a one year low of $97.14 and a one year high of $126.07.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 14th. Stockholders of record on Tuesday, February 28th will be issued a $0.80 dividend. The ex-dividend date is Friday, February 24th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.81%. Johnson & Johnson’s payout ratio is 56.64%.
Hedge funds have recently bought and sold shares of the company. Arthur M. Cohen & Associates LLC acquired a new stake in Johnson & Johnson during the fourth quarter worth about $4,944,000. Russell Investments Group Ltd. purchased a new stake in shares of Johnson & Johnson during the fourth quarter valued at about $549,377,000. First Bank & Trust purchased a new stake in shares of Johnson & Johnson during the fourth quarter valued at about $773,000. Aveo Capital Partners LLC purchased a new stake in shares of Johnson & Johnson during the fourth quarter valued at about $1,101,000. Finally, Robinson Value Management Ltd. purchased a new stake in shares of Johnson & Johnson during the fourth quarter valued at about $1,825,000. 64.03% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts recently issued reports on JNJ shares. Vetr cut shares of Johnson & Johnson from a “buy” rating to a “hold” rating and set a $117.54 price objective for the company. in a research report on Monday, November 7th. RBC Capital Markets set a $133.00 price objective on shares of Johnson & Johnson and gave the stock a “buy” rating in a research report on Wednesday, November 9th. Barclays PLC cut shares of Johnson & Johnson from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $130.00 to $125.00 in a research report on Tuesday, November 29th. They noted that the move was a valuation call. Zacks Investment Research cut shares of Johnson & Johnson from a “hold” rating to a “sell” rating in a research report on Tuesday, January 3rd. Finally, Bank of America Corp. restated a “hold” rating and set a $126.00 price objective on shares of Johnson & Johnson in a research report on Monday, November 28th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $122.70.
About Johnson & Johnson
Johnson & Johnson is a holding company, which is engaged in the research and development, manufacture and sale of a range of products in the healthcare field. The Company’s segments include Consumer, Pharmaceutical and Medical Devices. The Consumer segment includes a range of products used in the baby care, oral care, skin care, over-the-counter pharmaceutical, women’s health and wound care markets.
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J&J Guides Lower for 2017 Despite Fourth-Quarter Beat (Video)
Jan 24, 2017 | The Street
By Gregg Greenberg
Johnson & Johnson (JNJ) posted better-than-expected fourth-quarter 2016 earnings amid lower 2017 forecasts. It also reiterated its aim to look at strategic options that could include mergers or asset sales.
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J&J Reports Full Year and Q4 Results
Jan 24, 2017 | Happi
Johnson & Johnson today announced sales of $18.1 billion for the fourth quarter of 2016, an increase of 1.7% as compared to the fourth quarter of 2015. Operational sales results increased 2.3% and the negative impact of currency was 0.6%. Domestic sales increased 2.6%. International sales increased 0.6%, reflecting operational growth of 1.9% and a negative currency impact of 1.3%.
Excluding the net impact of acquisitions, divestitures, hepatitis C, Venezuela, and the additional shipping days in 2015, on an operational basis, worldwide sales increased 7.6%, domestic sales increased 9.5% and international sales increased 5.6%, the company said.
J&J's worldwide sales for the full-year 2016 were $71.9 billion, an increase of 2.6% versus 2015.
"We are pleased to report that we accelerated our adjusted growth for 2016 over the prior year, and delivered a strong total shareholder return of greater than 15 percent. The strong adjusted sales and EPS growth was driven by the impressive performance of our Pharmaceutical business and continued momentum in our Medical Device business and share gains while improving profitability in our Consumer business," said Alex Gorsky, chairman and CEO. "Looking forward to 2017, we expect to continue driving sustainable, long-term growth through the new products, science and innovation that our talented colleagues and partners of Johnson & Johnson are advancing to positively impact human health."
Worldwide consumer sales of $13.3 billion for the full-year 2016 represented a decrease of 1.5% versus the prior year, consisting of an operational increase of 1.5% and a negative impact from currency of 3.0%. Domestic sales increased 3.8%; international sales decreased 4.8%, which reflected an operational increase of 0.1% and a negative currency impact of 4.9%. Excluding the net impact of acquisitions, divestitures, Venezuela, and the additional shipping days in 2015, on an operational basis, worldwide sales increased 4.3%, domestic sales increased 5.6% and international sales increased 3.4%, the firm said.
Worldwide operational results, excluding the net impact of acquisitions and divestitures, were driven by over-the-counter products, including Tylenol analgesics, digestive health products and anti-smoking aids; Neutrogena and Aveeno beauty products and Listerine oral care products. -
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J&J exploring strategic options for LifeScan unit
Jan 24, 2017 | Drug Store News
By Michael Johnsen
Johnson and Johnson on Tuesday announced it will be evaluating "potential strategic options" for its LifeScan diabetes business, as well as other J&J diabetes banners including Animas Corp. and Calibra Medical.
The news was announced in conjunction with the company's fourth quarter earnings call, and is part of the company's ongoing portfolio management.
"Strategic options may include the formation of operating partnerships, joint ventures or strategic alliances, a sale of the businesses or other alternatives either separately or together," J&J stated. "All options will be evaluated to determine the best opportunity to drive future growth and maximize shareholder value. There can be no assurance that this process will result in any transaction or other strategic alternative of any kind."
For the quarter, Johnson & Johnson posted sales of $18.1 billion, an increase of 1.7% as compared to the fourth quarter of 2015. Worldwide, J&J sales for the full-year 2016 were $71.9 billion, an increase of 2.6% versus 2015. -
Jim Cramer Says J&J's Quarter Wasn't That Bad, but He Can't Jump on Pharma Stocks Right Now (VIDEO)
Jan 24, 2017 | The Street
By Rhonda Schaffler
TheStreet's Jim Cramer says Johnson & Johnson's ( JNJ) results weren't bad, but he's still cautious on pharma stocks given the political environment.
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Johnson & Johnson tumbles into pricing debate after lackluster fourth-quarter drug sales
Jan 24, 2017 | MarketWatch
By Emma Court
Lackluster fourth-quarter drug sales have quickly propelled Johnson & Johnson square into a debate about drug pricing that the company has sought to head off.
Nearly half of Johnson & Johnson sales are in pharmaceutical drugs, which increased U.S. revenue in the latest quarter by only 2% year-over-year, according to Leerink analyst Geoffrey Porges. Growth was slightly better outside the U.S., at 3.5% net of the effect of currency, Porges said.
Pharmaceuticals were “the primary culprit” in the fourth-quarter sales miss, Leerink analyst Danielle Antalffy said, which sent the company’s stock down 2.0% in morning trade Tuesday.
This “could heighten investor anxiety around JNJ’s dependence on Pharma,” said Antalffy, given new competitive forces for key drugs such as anti-inflammatory medicine Remicade and concerns about drug pricing.
Scrutiny of Johnson & Johnson, considered a health-care bellwether, could have implications for other pharmaceutical companies, with many scheduled to report earnings this week. Companies are expected to have far less pricing power this year, in contrast with recent years’ headline-making price hikes.
The issue of drug pricing has maintained momentum with the election of President Donald Trump, who said he plans to allow the government to negotiate Medicare and Medicaid drug prices with pharmaceutical companies. The practice is currently illegal.
Johnson & Johnson has sought to emphasize itself as a “responsible actor” in this new political environment.
In mid-January, the company announced plans to release a report in February on average list price increases on its prescription drugs.
On its fourth-quarter earnings call on Tuesday, Chief Executive Officer Alex Gorsky said the company has “maintained a responsible approach to pharmaceutical pricing, generally limiting aggregate annual price increases to single-digit percentages below of those of our competitive set,” according to the FactSet transcript.
He also said the company invests more in research and development than in sales and marketing, and that incremental research and development dollars since 2010 have outpaced its profit from price increases.
Johnson & Johnson also said Tuesday it was evaluating strategic options for its diabetes care companies.
The decision was prompted at least in part by the difficult diabetes pricing environment, the company said in its earnings call, since “it’s been challenging to generate strong profits in the business where there is significant price decline year after year.”
Asked if drug pricing was discussed at his recent meeting with President Trump, Gorsky said that health care wasn’t a significant topic of discussion.
This area is worth watching “to assess the company’s ability to drive sustainable mid-single-digit sales growth and even faster EPS growth,” Antalffy said.
Still, the company has positive sales trends in several core drugs, she said.
“We believe one quarter doesn’t make a trend,” she said.
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Johnson & Johnson Opens 2017 on a Cautious Note
Jan 24, 2017 | Motley Fool
By Dan Caplinger
Investors look to Johnson & Johnson (NYSE:JNJ) to provide a complete picture of the healthcare industry. With its pharmaceutical, medical device, and consumer products businesses, Johnson & Johnson covers a wide swath of the healthcare space, and the blue-chip giant has done a good job of producing solid returns for investors over the long run. Coming into Tuesday's fourth-quarter financial report, J&J investors wanted to see signs that the company's forward momentum would carry into 2017, but some were disappointed when Johnson & Johnson gave guidance for the coming year that indicated a somewhat less rosy outlook than hoped. Let's look more closely at how Johnson & Johnson did and what it sees in its future.
J&J produces strong earnings despite sluggish sales
Johnson & Johnson's fourth-quarter financial results were mixed from most investors' perspective. Sales climbed 1.7% to $18.11 billion, which represented slower growth than the nearly 3% rate that those following the stock had wanted to see. However, after making allowances for special items like amortization of intangible assets, adjusted earnings came in at $1.58 per share. That was $0.02 per share higher than the consensus forecast among investors.
Interestingly, in looking at J&J's sector results, the healthcare conglomerate saw a changing of the guard in the fourth quarter. The long-lagging consumer products segment actually led the way higher with sales gains of 3.4%, as the domestic business soared by nearly 13% to offset weakness internationally. The key pharmaceutical segment also posted growth of 2.1%, while medical devices inched higher by just 0.2%. Currency impacts played a role in holding back Johnson & Johnson's revenue gains, but overall, the impact was small, amounting to just six-tenths of a percentage point. The biggest currency hit came from the international consumer space, which took a 2.3-percentage-point hit and reversed what would have been a small gain on an operational basis. Currency pressures were especially strong in Europe, but J&J actually got some favorable benefits on the currency front in its Asia-Pacific and Africa region.
For the full year, Johnson & Johnson pointed to the best-performing products in each segment. For over-the-counter products, Tylenol, Neutrogena, Aveeno, and Listerine were top brands. New pharmaceutical products included blood and lymph node cancer fighter Imbruvica and Darzalex for multiple myeloma, while existing stalwarts Stelara and Remicade contributed positively to J&J's results. In medical devices, cardiovascular electrophysiology products and Acuvue contact lenses were among the top drivers of growth.
What's ahead for Johnson & Johnson in 2017?
CEO Alex Gorsky was pleased with the performance of Johnson & Johnson's businesses, and he has high hopes for the coming year. "Looking forward to 2017," Gorsky said, "we expect to continue driving sustainable, long-term growth through the new products, science, and innovation that our talented colleagues and partners of Johnson & Johnson are advancing to positively impact human health."
In addition, J&J said that it's looking at strategic options in relation to its diabetes care units. In particular, the company believes that it might seek joint ventures, strategic alliances, or a sale of businesses like LifeScan, Animas, and Calibra Medical.
Johnson & Johnson's guidance for 2017, however, fell short of the high expectations that shareholders had for the company. J&J said that it anticipated sales of $74.1 billion to $74.8 billion, which would work out to growth of 4% to 5%. Earnings should come in between $6.93 and $7.08 per share. That's less than the $75.1 billion in revenue and $7.11 per share in earnings that marked the consensus among investors going into the report.
In response, Johnson & Johnson investors showed their disappointment, sending the stock down about 2% in morning trading following announcement. It's not surprising to see J&J holding back somewhat in an uncertain environment for the healthcare industry right now. However, in terms of long-term prospects, Johnson & Johnson signaled that it's prepared to move forward aggressively to capitalize on opportunities as they arise.
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J&J earnings beat estimates, but sales come up short
Jan 24, 2017 | NJ Biz
By Eric Strauss
New Brunswick-based Johnson & Johnson said Tuesday that earnings beat estimates in the fourth quarter of 2016, but higher revenue nevertheless fell short of expectations.
The health care giant said adjusted diluted earnings came in at $1.58 per share for the quarter, up 9.7 percent from the year-ago period and above the consensus analyst estimate of $1.56, according to Yahoo! Finance.
J&J reported net earnings in Q4 came in at $3.8 billion, with diluted EPS at $1.38. Excluding items, adjusted net earnings were $4.4 billion for the quarter.
Sales for the quarter came in at $18.1 billion, up 1.7 percent from Q4 in 2015, but below the analyst estimate of $18.28 billion.
Excluding items, worldwide sales were up 7.6 percent, the company said, with domestic sales up 9.5 percent and international sales up 5.6 percent.
For the full year, net earnings came in at $16.5 billion, with diluted earnings at $5.93 per share. Adjusted net earnings for the year were $18.8 billion, and adjusted diluted earnings were $6.73 per share. Those figures were up 7.6 percent and 8.5 percent, respectively, from 2015.
Full-year sales were $71.9 billion, up 2.6 percent from 2015.
“We are pleased to report that we accelerated our adjusted growth for 2016 over the prior year, and delivered a strong total shareholder return of greater than 15 percent,” Chairman and CEO Alex Gorsky said in a prepared statement. “The strong adjusted sales and EPS growth was driven by the impressive performance of our pharmaceutical business and continued momentum in our medical device business, and share gains while improving profitability on our consumer business.”
The company said its 2017 full-year guidance suggests sales of $74.1 billion to $74.8 billion, and adjusted earnings of $6.93 to $7.08 per share.
“Looking forward to 2017, we expect to continue driving sustainable, long-term growth through the new products, science and innovation that our talented colleagues and partners of Johnson & Johnson are advancing to positively impact human health,” Gorsky said.
The company added that it is considering potential strategic options for its diabetes care companies, including LifeScan Inc., Animas Corp. and Calibra Medical Inc.
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Johnson & Johnson Reports Gains in Full-Year and Fourth-Quarter Sales, Earnings
Jan 25, 2017 | Vision Monday
Johnson & Johnson (NYSE: JNJ) reported Tuesday that its worldwide sales totaled $71.9 billion in fiscal 2016, an increase of 2.6 percent compared to 2015, and its adjusted earnings per share (EPS) totaled $6.73, an increase of 8.5 percent.
The pharmaceutical and vision care company also noted that its “strong” adjusted full-year 2016 operational sales and EPS increased 7 percent and 9 percent, respectively. In its vision care segment, J&J reported full-year sales of $2.79 billion in 2016, an increase of 6.4 percent.
In a breakdown of business results, J&J noted that the vision care segment’s sales growth was driven by “U.S. category growth and market-share gains driven by core and new products” during 2016. The company also cited the success of Acuvue contact lenses as a key contributor to overall sales gains in the vision care business.
J&J chairman and chief executive officer Alex Gorsky said in a statement that the company “accelerated our adjusted growth for 2016 over the prior year, and delivered a strong total shareholder return of greater than 15 percent.”
He added, “The strong adjusted sales and EPS [earnings per share] growth was driven by the impressive performance of our pharmaceutical business and continued momentum in our medical device business and share gains while improving profitability in our consumer business,”
Looking ahead at 2017, Gorsky said J&J expects to “continue driving sustainable, long-term growth through the new products, science and innovation” that J&J is developing.
In a breakout of fourth-quarter results, J&J’s overall sales increased 1.7 percent to $18.1 billion, while adjusted earnings per share totaled $1.58, an increase of 9.7 percent. In the vision care segment, the fourth quarter of 2016 was particularly strong, with sales climbing 10.3 percent to $721 million. The company cited such factors as U.S. inventory build, “net price and consumption growth driven by new products.”
In its 2017 full-year guidance, J&J said it expects to report sales of $74.1 billion to $74.8 billion at the end of this year, which would reflect expected operational growth in the range of 4 to 5 percent. Additionally, as part of ongoing portfolio management, J&J said it is “engaging in a process to evaluate potential strategic options” for the Johnson & Johnson Diabetes Care Companies, specifically LifeScan. -
Verizon, Johnson & Johnson Sink, Kimberly-Clark Gains
Jan 24, 2017 | Associated Press
Stocks that moved substantially or traded heavily Tuesday:
Johnson & Johnson, down $2.15 to $111.76
The giant health care company issued a lower-than-expected 2017 forecast and said it will start shopping its diabetes care businesses.
D.R. Horton Inc., up $1.90 to $30.64
The homebuilder delivered higher earnings as home closings and net home orders increased.
Kimberly-Clark Corp., up $4.81 to $121.79
The maker of Kleenex and other paper products reported earnings that beat analysts' forecasts.
Verizon Communications Inc., down $2.29 to $50.12
The company added fewer new cellphone or tablet customers in the last three months of 2016 than it did in the same period a year earlier.
Lockheed Martin Corp., down $4.57 to $252.91
The defense contractor released a full-year earnings forecast that fell short of what analysts were expecting.
Alibaba Group Holding Ltd., up $3.02 to $101.43
The Chinese e-commerce giant reported earnings and revenue that came in well ahead of analysts' forecasts.
3M Co., down $2.54 to $175.97
The maker of Post-it Notes, industrial coatings and ceramics posted revenue that fell short of estimates.
E.I. du Pont de Nemours & Co., up $3.27 to $76.05
The chemical maker reported earnings that easily beat Wall Street's estimates.
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J&J Sales Increase 1.7% But Miss Estimates
Jan 24, 2017 | CFO
By Matthew Heller
Johnson & Johnson on Tuesday reported a smaller-than-expected rise in fourth-quarter sales and forecast 2017 sales and profit below Wall Street estimates.
For the final quarter of 2016, J&J’s earnings jumped 19% to $3.81 billion with adjusted earnings of $1.58 per share, topping average analyst expectations by two cents. Revenue grew 1.7% to $18.11 billion from $17.81 billion, missing the FactSet consensus of $18.26 billion.
According to CNBC, sales were hurt by slowing demand for J&J’s medical devices and a stronger dollar.
Full-year sales rose 2.6% to $71.9 billion, with domestic sales up 6.0% and international sales down 0.9%. Excluding non-recurring items, worldwide sales rose 7.4%.
“We are pleased to report that we accelerated our adjusted growth for 2016 over the prior year, and delivered a strong total shareholder return of greater than 15 percent,” CEO Alex Gorsky said in a news release.
“The strong adjusted sales and EPS growth was driven by the impressive performance of our pharmaceutical business and continued momentum in our medical device business and share gains while improving profitability in our consumer business,” he added.
The consumer segment was boosted in the fourth quarter by a surge in beauty product sales, growing 3.4% percent to $3.43 billion in revenue. Pharmaceutical revenue climbed 2.1% to $8.23 billion even though sales of the biologic immune disorder drug Remicade dropped 3.3% to $1.62 billion.
For 2017, J&J is now forecasting adjusted earnings of $6.93 to $7.08 per share on revenue of $74.1 billion to $74.8 billion, below the average analyst estimate for a profit of $7.11 per share on revenue of $75.10 billion.
“We think the outlook reflects a degree of conservatism rather than a reflection of caution on fundamentals,” Barclays analyst Geoff Meacham said in a research note.
Gorsky said the company expects to “continue driving sustainable, long-term growth through the new products, science and innovation that our talented colleagues and partners of Johnson & Johnson are advancing to positively impact human health.”
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UPDATE: Johnson & Johnson's lackluster sales shove it into drug-pricing debate
Jan 25, 2017 | Morningstar
By Emma Court
The issue of drug pricing has at minimum maintained its momentum since the election of President Trump.
Lackluster fourth-quarter drug sales have pushed Johnson & Johnson squarely into a debate about drug pricing that the company has sought to head off.
Nearly half of Johnson & Johnson sales are in pharmaceutical drugs, which increased U.S. revenue in the latest quarter by only 2% on a year-over-year basis, according to Leerink analyst Geoffrey Porges. Growth was slightly better outside the U.S., at 3.5% net of the effect of currency, Porges said.
Pharmaceuticals were "the primary culprit" in the fourth-quarter sales miss, Leerink analyst Danielle Antalffy said, which sent the company's stock down 2% in morning trade Tuesday.
This could "heighten investor anxiety" about J&J dependence on pharmaceuticals, said Antalffy, given new competitive forces for key drugs such as the anti-inflammatory medicine Remicade and concerns about drug pricing.
Scrutiny of Johnson & Johnson, considered a health-care bellwether, could have implications for other pharmaceutical companies, with many scheduled to report earnings this week. Companies are expected to have far less pricing power this year (http://www.marketwatch.com/story/big-pharmas-new-playbook-for-a-scandal-free-2017-2016-12-19), in contrast with recent years' headline-making price hikes.
The issue of drug pricing has at minimum maintained its momentum with the election of President Donald Trump, who said he plans to allow the government to negotiate Medicare and Medicaid drug prices with pharmaceutical companies. The practice is currently illegal.
(http://www.marketwatch.com/story/president-elect-trumps-promise-to-bring-down-drug-prices-sends-biotech-etfs-slumping-2016-12-07)See: If Trump tries to lower drug prices, 'God help him,' says top Medicare official (http://www.marketwatch.com/story/if-trump-tries-to-lower-drug-prices-god-help-him-says-top-medicare-official-2017-01-09)
Johnson & Johnson has sought to present itself as a "responsible actor" in this new political environment.
In mid-January, the company announced plans to release a report in February on average list price increases on its prescription drugs.
On its fourth-quarter earnings call Tuesday, Chief Executive Officer Alex Gorsky said the company has "maintained a responsible approach to pharmaceutical pricing, generally limiting aggregate annual price increases to single-digit percentages below of those of our competitive set," according to the FactSet transcript.
Related: Big pharma won't stop raising prices in 2017 -- it'll just do it smarter (http://www.marketwatch.com/story/big-pharmas-new-playbook-for-a-scandal-free-2017-2016-12-19)
He also said the company invests more in research and development than in sales and marketing, and that incremental R&D dollars since 2010 have outpaced profit from price increases.
Johnson & Johnson also said Tuesday it was evaluating strategic options for its diabetes-care companies.
The decision was prompted at least in part by the difficult diabetes pricing environment, the company said in its earnings call, since "it's been challenging to generate strong profits in the business where there is significant price decline year after year."
Asked if drug pricing was discussed at a recent meeting with President Trump, Gorsky said that health care wasn't a significant topic of discussion.
This area is worth watching "to assess the company's ability to drive sustainable mid-single-digit sales growth and even faster EPS growth," Antalffy said.
Still, the company has positive sales trends in several core drugs, she said.
"We believe one quarter doesn't make a trend," she said.
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How Will Johnson & Johnson Fare Under President Trump?
Jan 25, 2017 | MotleyFool
By Keith Speights
"Excited" -- but with a "lot of uncertainty."
Those words were used by Johnson & Johnson (NYSE:JNJ) CEO Alex Gorsky in describing his take on the healthcare industry going into 2017. President Donald Trump could deliver both excitement and uncertainty for the giant healthcare company that Gorsky leads. What impact might four to eight years of a Trump presidency have on J&J? Obamacare repeal
On his first day in office, President Trump signed an executive order taking a swing at Obamacare. The executive order allows federal agencies to waive or delay enforcement of provisions in the health reform legislation that "impose a fiscal burden on any state or a cost, fee, tax, penalty, or regulatory burden on individuals, families, healthcare providers, health insurers, patients, recipients of healthcare services, purchasers of health insurance, or makers of medical devices, products, or medications."
President Trump promised in his campaign that he would repeal and replace Obamacare. Republicans in Congress have already taken the first steps to repeal the legislation, although details aren't available yet on what will replace it.
How might a repeal of Obamacare impact Johnson & Johnson? A permanent removal of the medical device tax included in the legislation would help the company. But anyone thinking that a loss of Obamacare could mean bad news for J&J with lower hospital utilization of its products might be surprised.
Alex Gorsky stated at the J. P. Morgan Healthcare Conference on Jan. 9 that his company hasn't seen a significant increase in hospital volumes under Obamacare. It's possible that J&J won't feel much of an effect from repeal of the healthcare reform law.Trade policies
President Trump's trade policies, however, could make a big difference for Johnson & Johnson. Nearly half of the company's revenue stems from international markets.
Perhaps the most important effect on J&J could be what happens between the U.S. and China. President Trump took a hard stance against China's trade policies during his campaign. His nominee for commerce secretary, Wilbur Ross, referred to China as "the most protectionist country of very large countries" in his confirmation hearing. Ross also said that the U.S. "should not put up with" unfair trading policies.
A trade skirmish with China would hurt Johnson & Johnson. Although the company doesn't detail how much of its revenue comes from the country, J&J has specifically cited growth in China as a big driver for the success of several of its products, including Dabao cosmetics and prostate cancer drug Zytiga. Drug pricing
President Trump wants to allow Medicare to negotiate drug prices with pharmaceutical companies. Should he succeed in making this a reality, it could cause heartburn for many drugmakers. How could this change impact J&J?
Medicare spent over $5.7 billion in 2015 on seven of J&J's drugs: Imbruvica, Invega Sustena, Prezista, Remicade, Velcade, Xarelto, and Zytiga. That represented 35% of the company's combined revenue from the drugs and over 18% of J&J's total pharmaceutical sales in 2015.
The financial effect on Johnson & Johnson from negotiating with Medicare will depend on how significant any price concessions are. It's fair to say, though, that the company's top and bottom lines could be negatively impacted from the proposed change.Tax reform
So far, we've only looked at potential negative effects on J&J from potential actions by President Trump. However, there are a couple of the president's proposals that could help Johnson & Johnson tremendously.
First, President Trump has proposed reducing the corporate tax rate from 35% to 15%. We can relatively easily calculate the potential effect of such a reduction on J&J. The company expects to make around $72 billion for 2016. Assuming that roughly 52% of that total will be generated in the U.S., J&J would pay federal taxes of $13.1 billion under the current rate. With President Trump's proposed rate, the company would pay $5.6 billion. That's an additional $7.5 billion per year for Johnson & Johnson based on its 2016 performance.
Second, the president has also floated the idea of a one-time repatriation of corporate cash parked overseas at a lower tax rate of 10%. Johnson & Johnson reported $38.2 billion in cash, cash equivalents, and marketable securities held by its foreign subsidiaries at the beginning of 2016. Using that amount as a guide, the company could potentially free up around $3.4 billion after taxes for use in the U.S. under President Trump's proposed repatriation plan. Overall impact
What's the overall impact of President Trump's policies on Johnson & Johnson? The potential positives from the corporate tax reform proposals should outweigh any negatives from allowing Medicare to negotiate drug prices. Repeal of Obamacare probably won't be a huge factor for the company. The big wild card, though, is the prospect of retaliatory trade policies with China.
Overall, it seems likely that Johnson & Johnson will do well under the Trump Administration. After all, the company has managed to perform well under the previous 22 presidencies. I think that J&J CEO Alex Gorsky is right, though: There's a lot of uncertainty.
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Uh-Oh: This Could Be Johnson & Johnson's Biggest Risk in 2017
Jan 25, 2017 | Motley Fool
By Todd Campbell
Johnson & Johnson (NYSE:JNJ) released its fourth-quarter 2016 financials and the numbers show that the launch of a Remicade biosimilar by Pfizer, Inc.(NYSE:PFE) could pose a big threat to the company's growth in 2017.A massive market
The market for autoimmune disease drugs like Remicade is huge. Every year, billions of dollars are spent on these drugs, which can cost thousands of dollars per dose.
Remicade is one of the oldest biologics used to treat autoimmune disease, including rheumatoid arthritis, and it's a complex biologic that can't be copied identically. However, patent expiration has led to the launch of biosimilars that deliver similar safety and efficacy.
These biosimilars are already available in abroad markets, including Europe, but they're only now launching in the United States. In November, Pfizer became the first company to launch a Remicade biosimilar in the U.S. when it rolled out Inflectra.
Although Inflectra has only been on the market for weeks, not months, Johnson & Johnson's fourth-quarter financials suggest Remicade's best days are behind it.
In the fourth quarter, Remicade's U.S. sales slipped 1.7% to $1.17 billion. That's a big swing from its third-quarter performance, when Remicade's U.S. sales climbed 9.4% year over year to $1.22 billion. It also suggests tough sledding may be ahead for the company's sales in 2017, given that U.S. Remicade sales totaled $4.84 billion in 2016, up 8.7% from 2015.What's on deck
Pfizer launched Inflectra with a price tag that's only about 15% less than Remicade, which can cost between $1,300 and $2,500 per dose.
While that's not as big of a discount to the brand name price as typical generic small molecule drugs tend to launch with, it could still be enough to convince payers and doctors to prescribe it to newly diagnosed patients and cost-conscious patients. If so, then Inflectra could carve meaningful market share away from Remicade.
Abroad, where Remicade is marketed by Merck & Co. (NYSE:MRK), biosimilars are already taking a toll on Remicade, and the experience in those markets offers insight into how the U.S. market could play this year.
Merck & Co. hasn't disclosed its fourth-quarter figures yet, but Remicade sales in the third quarter fell 30% to $311 million versus the third quarter of 2015. When Merck reported those figures, management cited biosimilars as the reason behind Remicade's revenue drop.Protecting its moat
Johnson & Johnson will likely compete on price with Inflectra by offering greater discounts to payers. That could help it maintain market share against Inflectra, but it will cause headwinds to Remicade's sales and the drug's contribution to Johnson & Johnson's bottom line.
The company hopes to make-up some of the negative drag on its financials caused by biosimilars by expanding the use of other autoimmune disease drugs in its line-up, including Stelara. Stelara is approved for use in psoriasis, and in September, the FDA expanded the drug's label to include its use in Crohn's disease. Johnson & Johnson thinks that could add $500 million in annual sales, or more.
Johnson & Johnson is also working on next-generation drugs that could help sure-up the company's market share in rheumatoid arthritis. Recently, Johnson & Johnson and co-developer GlaxoSmithKline filed for FDA approval of sirukumab, a rheumatoid arthritis drug that industry analysts think could have peak sales potential of $1 billion, or more.
Although Johnson & Johnson's efforts may help it absorb Remicade weakness, Remicade's the company's best selling drug, and that means that it could pose the biggest risk to sales in 2017.
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Jan 24, 2017 | CNBC
View Clip Here: http://app.criticalmention.com/app/#clip/view/25811912?token=dd700d2e-9144-4e64-8c3e-1a680e9dc8b5
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Jan 24, 2017 | Bloomberg
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Squawk Box - Dominic Caruso Interview
Jan 24, 2017 | CNBC
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Jan 24, 2017 | CNBC
Squawk Box
CNBC
January 24, 2017
View Clip Here: http://app.criticalmention.com/app/#clip/view/25811927?token=7ae14a68-d262-4c7f-89c9-cd97f5e2ff9a
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Jan 24, 2017 | Bloomberg
View Clip Here: http://app.criticalmention.com/app/#clip/view/25811929?token=7ae14a68-d262-4c7f-89c9-cd97f5e2ff9a
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Bloomberg Daybreak: Americas (Caruso Interview)
Jan 24, 2017 | Bloomberg
View Clip Here: http://app.criticalmention.com/app/#clip/view/25812008?token=dd700d2e-9144-4e64-8c3e-1a680e9dc8b5
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Jan 24, 2017 | CNBC
View Clip Here: http://app.criticalmention.com/app/#clip/view/25812015?token=7ae14a68-d262-4c7f-89c9-cd97f5e2ff9a
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Fox News - Mornings with Maria Bartiromo
Jan 24, 2017 | Fox News
View Clip Here: http://app.criticalmention.com/app/#clip/view/25812165?token=7ae14a68-d262-4c7f-89c9-cd97f5e2ff9a
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Jan 24, 2017 | CNBC
View Clip Here: http://app.criticalmention.com/app/#clip/view/25812557?token=7ae14a68-d262-4c7f-89c9-cd97f5e2ff9a
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Jan 24, 2017 | CNBC
View Clip Here: http://app.criticalmention.com/app/#clip/view/25813253?token=dd700d2e-9144-4e64-8c3e-1a680e9dc8b5
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Jan 24, 2017 | CNBC
View Clip Here: http://app.criticalmention.com/app/#clip/view/25815403?token=7ae14a68-d262-4c7f-89c9-cd97f5e2ff9a
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Bloomberg Markets: Americas (Included Caruso Interview)
Jan 24, 2017 | Bloomberg
View Clip Here: http://app.criticalmention.com/app/#clip/view/25815447?token=7ae14a68-d262-4c7f-89c9-cd97f5e2ff9a
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Jan 25, 2017 | Bloomberg TV
View Clip Here: http://app.criticalmention.com/app/#clip/view/25821515?token=a1d92c01-dc58-4acd-b08a-00265b60ec13
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Jan 25, 2017 | Bloomberg TV
View Clip Here: http://app.criticalmention.com/app/#clip/view/25821528?token=a1d92c01-dc58-4acd-b08a-00265b60ec13
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