5 Stocks Making Big Moves After Releasing Their Financial Results

3. Johnson & Johnson (NYSE:JNJ)

Number of Hedge Fund Holders: 83

Shares of Johnson & Johnson (NYSE:JNJ) hit a new 52-week high of $185.94 on Tuesday, April 19, 2022, following its upbeat profit for the first quarter. The New Jersey-based healthcare giant reported adjusted earnings of $2.67 per share, up from $2.59 per share in the year-ago period and above the consensus of $2.58 per share.

On the downside, Johnson & Johnson (NYSE:JNJ) posted revenue of $23.4 billion, below analysts’ average estimate of $23.6 billion. If we look at the performance of its flagship segments, its pharmaceutical revenue rose 6.3 percent to $12.87 billion, while medical devices revenue increased 5.9 percent to $6.97 billion in the quarter. In comparison, revenue from its consumer health segment slipped 1.5 percent to $3.59 billion.

Johnson & Johnson (NYSE:JNJ) also updated its earnings outlook for 2022. It now expects adjusted earnings in the range of $10.15 – $10.35 per share, down from its previous guidance between $10.40 – $10.60 per share.