Blue-Chip Pharma Stock Inches Higher After Q3 Win

A stronger U.S. dollar forced the company to narrow its earnings outlook

Deputy Editor
Oct 18, 2022 at 9:23 AM
facebook twitter linkedin

Johnson & Johnson (NYSE:JNJ) took to the earnings confessional earlier to report a third-quarter earnings and revenue beat, thanks to growing pharmaceutical sales. The company narrowed its earnings outlook, however, issuing caution amid the strengthening U.S. dollar. Ahead of the open, JNJ is up 1.2% at $168.54.

After hitting an April 25, record high of $186.69, Johnson & Johnson stock took a step back on the charts, though it's now trading back above its descending 60-day moving average. In addition, the shares lost 7.6% in August, and JNJ is now trading 2.6% lower year-to-date. 

Analysts have yet to weigh in on the results, but they were split coming into today. While there's not a "sell" on the books, eight members of the brokerage bunch rate Johnson & Johnson stock a "hold" versus eight that recommend a "buy" or better. Meanwhile, the 12-month consensus target price of $185.40 is a 10% premium to last night's close. 


Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 



Special Offers from Schaeffer's Trading Partners