Better Than Expected Numbers For Johnson & Johnson (NYSE:JNJ)
Johnson & Johnson (NYSE:JNJ) reported its Q3 results on Tuesday and these were far better than expected. There has been a healthy growth in the demand for prescription drugs and this offset the weaker contributions from the company’s consumer products and medical devices businesses.
There was a jump of almost 10% in the global drug revenue, to $7.04B and was a good follow-up of the strong performance that the company had in the earlier quarter. There was a significant rise in demand for the company’s rheumatoid treatments- Remicade and Simponi. The other drugs that have also been doing very well is the psoriasis drug, Stelara, the prostrate drug, Zytiga and some other medicines as well.
The economy is what has hurt the company, with patients unwilling to opt for certain expensive surgeries and procedures and there was also a $6.93B drop in division sales. Johnson & Johnson (NYSE:JNJ) reported $2.98B or $1.04/share in net earnings for the quarter.
In Tuesday’s trading, Johnson & Johnson (NYSE:JNJ) ROSE BY 0.14%. The opening price of the shares was $90.33, which climbed to an intraday high of $91.46 and dipped to a close of $89.93. Approximately 11.03 million shares were traded on Tuesday while an average volume of 7.80 million shares were traded over a 30 day period. The 52-week low of Johnson & Johnson (NYSE:JNJ) shares is $68.07 and its 52-week high is $94.42. The company has a market capitalization of $00.00 billion.
About the company
Johnson & Johnson (NYSE:JNJ) is a holding company. It is involved in researching, developing, manufacturing and selling of a variety of products in the health-care field. The company’s businesses are conducted by over 275 operating-companies situated across60 countries, including the U.S, which sell products in almost all the countries across the world.