From Nasdaq, Inc.:

Johnson & Johnson will report fourth-quarter 2023 results on Jan 23, before market open. Factors to consider include strong demand trends for products in the Innovative Medicines segment, which are expected to drive sales. However, lower sales of key medicine Imbruvica, and the COVID-19 vaccine are likely to have hurt the top line in the fourth quarter. The impact of volume-based procurement issues in China, supply challenges in some categories and headwinds from international sanctions in Russia might have hurt sales in the MedTech segment. In August, J&J completely separated its Consumer Health business into Kenvue, which now operates as a separate company. The company has a 9.5% stake in Kenvue’s common stock. Despite a history of earnings surprises, our proven model does not conclusively predict an earnings beat for J&J this time around. The company’s stock has declined by 4.4% in the past year.

J&J stock has declined 4.4% in the past year, and our proven model does not predict an earnings beat. Large drug/biotech stocks with potential for an earnings beat include Novartis and AstraZeneca. Novartis has an Earnings ESP of +3.11% and a Zacks Rank #2, while AstraZeneca has an Earnings ESP of +3.17% and a Zacks Rank #3. Both companies have topped earnings estimates in the last four quarters, and are scheduled to release their fourth-quarter results soon. You can see the complete list of today’s Zacks #1 Rank stocks here. Only $1 to See All Zacks’ Buys and Sells – we’re offering 30 day access to all our picks for only $1. To read this article on Zacks.com click here.



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