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- Johnson & Johnson is Flying Through the Roof
Johnson & Johnson is Flying Through the Roof
Johnson & Johnson, the world's largest seller of personal cleansing, care products and pharmaceuticals, has reported its ever-highest adjusted earnings per share of $2.80 on record revenue of $25.53 billion as well for the three months from April to June, beating consensus ($2.62 and $24.7 billion, consequently).
The stock gave a clear signal to start a new wave of upside trend, when it soared by 6.1% within one day to break through its 15-week technical resistance area, which previously were lying within the range between $165.00 and $167.25. It closed an exciting trading session on Thursday at $168.40, paving a driveway to the next target of around $180 per share, which corresponds to the company's peaking prices in Christmas season 2022. An improved 2023 profit forecast announced by J&J management is now $10.70-$10.80, up from their previous outlook of $10.60-$10.70 a share.
Besides well-known trademarks like Johnson’s Baby, Neutrogena, Carefree, Reach, Clean & Clear, RoC and Acuvue contact lens, which are always in everyday demands, J&J is expanding its cancer drug offerings and medtech sales including devices for surgeries, orthopaedics and vision. A rebound in non-urgent surgeries that were deferred during the pandemic also helps.
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