Following the announcement that Integra LifeSciences (IART) acquired the Codman Neurosurgery Business from Johnson & Johnson (JNJ), Oppenheimer analyst Steven Lichtman says the addition brings complementary products to further strengthen the former's position in the neurosurgery market. Additionally, the analyst notes that the deal also expands Integra LifeSciences' international revenue and adds to the company's international infrastructure that will be supportive primarily of its neurosurgery business, but will also help in the international build-out of other segments. He reiterates an Outperform rating on Integra LifeSciences' shares.

BofA analyst Geoff Meacham lowered the firm's price target on Johnson & Johnson to $170 from $180 and keeps a Neutral rating on the shares. Shares traded down despite a "solid" Q1 and unchanged reported guidance midpoint, which the firm suspects was due to disappointing Carvykti sales and the Vision business, the analyst tells investors. The firm, which thinks commercial execution from key growth franchises remains the focus and investor sentiment can improve on better-than-expected quarterly performance and pipeline readouts, argues that 2024 guidance looks "beatable," but lowers its price target on a lower Carvykti sales outlook.