Johnson & Johnson tops quarterly profit estimates as medical device sales jump
CNBC - 2024-04-16T10:24:08.000Z

The company is benefiting from a rebound in demand for nonurgent surgeries among older adults, who deferred those procedures during the Covid pandemic.

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Abbott Laboratories beat Wall Street estimates for quarterly profit on Wednesday and raised the lower end of its annual forecast on robust sales of its medical devices, including glucose-monitoring products. Sales of Abbott's medical devices have been strengthened in recent quarters due to a resurgence in the demand for joint replacements as well as other surgeries delayed during the COVID-19 pandemic. Industry bellwether and rival Johnson & Johnson said on Tuesday it continues to expect...
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Johnson & Johnson’s stock fell 0.4% early Tuesday, after the healthcare company posted better-than-expected profit for the first quarter but sales that fell
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Johnson & Johnson's bet on heart devices boosted sales — but it still missed analysts' expectations
Johnson & Johnson’s recent investments in medical devices helped boost sales, but the company’s total revenue in the first quarter of the year failed to beat Wall Street expectations. Its stock fell 2%to about $144 on Tuesday, following the healthcare giant’s recent quarterly earnings report. The company’s medical device segment experienced the biggest growth in the company during the three months ending March 31, up 4.5% year-over-year to $7.8 billion. Johnson & Johnson said the growth was...
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In related news

Abbott beats quarterly profit estimates on strong medical device sales

Johnson & Johnon’s Q1 profit beats as sales fall slightly short of estimates

Johnson & Johnson's bet on heart devices boosted sales — but it still missed analysts' expectations