Johnson & Johnson (JNJ) reported a 4.2% increase in the quarterly dividend that would be paid to $1.24 per share, marking confidence in their financial strength. The healthcare behemoth had been reporting strong profits into the first quarter of the year, although they slightly missed high expectations regarding sales.
J&J reported in Q1 sales of $21.383 billion against analysts' earnings forecast, as net income of $5.354 billion or $2.71 per adjusted share. Sales ticked up by 2.3%, reaching $21.383 billion, but still falling slightly below the projected $21.390 billion. In particular, the growth was underpinned by the solid performance in the medtech division, up 4.5%, while for innovative medicine, it was up by 1.1%.
Concurrently, it updated the full-year guidance, which it now expects to come in the range of $88.0 billion to $88.4 billion for sales and at $10.60 to $10.75 for adjusted EPS. This has increased the perception that J&J feels confident to easily navigate the changing market environment while maintaining their financial strength.
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