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JNJ

Johnson & Johnson

$132.26

-0.34 (-0.26%)

14:23
07/17/17
07/17
14:23
07/17/17
14:23

On The Fly: What to watch in Johnson & Johnson earnings report

Johnson & Johnson (JNJ) is scheduled to report results of its fourth fiscal quarter before the market open on July 18, with a conference call scheduled for 8:30 am EDT. What to watch for: 1. UPBEAT GUIDANCE: Along with its last report, J&J raised its fiscal year 2017 earnings per share view to $7.00-$7.15 from S $6.93-$7.08, versus a consensus at the time of $7.05. Analysts currently see the company reporting EPS of $7.10 this fiscal year. On April 19, the day after J&J's Q1 earnings release, research firm UBS said that the company's quarterly EPS results were a "solid" beat. The firm raised its estimates to reflect the Actelion (ALIOF), deal which is expected to close in Q2. UBS reiterated its Buy rating and $136 price target on Johnson & Johnson shares. Another research firm, Leerink, weighed in on J&J earnings after its last report. Leerink analyst Danielle Antalffy lowered her price target for Johnson & Johnson to $140 from $150 on valuation. The analyst noted that the shares sold off as investors seemed taken aback by weakness in both non-REMICADE Pharma and Consumer, but she pointed out that there were a number of potential drivers for an improving outlook going forward, including Medical Devices growth reacceleration, continued strong double-digit growth of key new drugs, and likely consumer growth reacceleration as the macroeconomic environment improves. The analyst reiterated an Outperform rating on the shares. 2. TOUGH PHARMA ENVIRONMENT: According to a research paper from University of Pennsylvania, out in May, the pharmaceutical industry faces some critical challenges, including the decline in the discovery, approval and marketing of new chemical entities with fewer and fewer blockbuster drugs making it to the market, competition from generics drugs, regulatory pressures and the weak growth in the U.S. market and therefore the need to explore other markets, to name a few. Recently, JPMorgan analyst Michael Weinstein noted the difficult conditions for pharma and their potential impact on J&J's Q2 results." J&J is coming off a disappointing Q1, and Q2 is going to be just as challenging, owing to $340M in Q2 of 2016 gross-to-net adjustments that make for a particularly tough comp. As a result, Q2 is likely to look a lot like the first," wrote Weinstein in a note out in early May. JP Morgan analyst Weinstein and his team called attention to the fact that J&J shares underperformed due to "the prospect of decelerating top-line growth in 2017, owing to increased competition for the Pharmaceutical business. According to JP Morgan's Weinstein deceleration should abate after the current quarter, which him to raise his rating to Overweight and price target to $140 on J&J shares. ACTELION ACQUISITION: In late January, J&J announced it was acquiring Switzerland-based Actelion. Actelion has a "strong" history of innovation to discover and develop new and differentiated products in multiple therapeutic areas, J&J said in a press release on January 26. Actelion has developed oral, inhaled and intravenous formulations of compounds to treat patients at various stages of pulmonary arterial hypertension. It is also developing therapies for multiple sclerosis, digital ulcers, Niemann-Pick type C disease, Gaucher disease, a lymphoma known as mycosis fungoides, and infectious diseases such as Clostridium difficile-associated diarrhea. The transaction closed on June 16 and will now become part of the Janssen Pharmaceutical Companies of Johnson & Johnson. Johnson & Johnson expects the transaction to add approximately $1.3B in sales for 2017 and be accretive to 2017 adjusted EPS by approximately 7c. This impact was already included in the company's full-year sales and adjusted EPS guidance provided in April. Also, as previously disclosed, in the first full year after close, Johnson & Johnson expects the transaction to be accretive to adjusted EPS by 35c-40c.

  • 18

    Jul

  • 09

    Aug

JNJ Johnson & Johnson
$132.26

-0.34 (-0.26%)

07/14/17
WELS
07/14/17
NO CHANGE
WELS
Underperform
J&J approval another negative for Valeant, says Wells Fargo
Wells Fargo analyst David Maris says Valeant Pharmaceuticals (VRX) has a new competitor in the psoriasis space after the FDA yesterday approved Tremfya from Johnson & Johnson (JNJ). The news is another negative for Valeant, which is about to launch its own psoriasis treatment, Siliq, in the second half of 2017, Maris tells investors in a research note. With Talz from Eli Lilly (LLY), Humira from AbbVie (ABBV), Cosentyx from Novartis (NVS) and now J&J as a new competitor, Valeant is unlikely to be competitive in the psoriasis market, Maris contends. He believes his peak sales estimate of $250M for Siliq may prove optimistic given the competition. Maris an Underperform rating on Valeant with a $9 price target. The drugmaker closed yesterday at $17.29.
06/27/17
06/27/17
NO CHANGE

Large cap pharma could benefit from upcoming executive order, says Wells Fargo
Wells Fargo says that, based on press reports, large cap pharma could benefit from President Trump's upcoming executive order on drug pricing. The firm says the articles indicate that the order will not create major reforms or do anything to lower consumers' costs or solve current pricing issues. Publicly traded companies in the space include AstraZeneca (AZN), Bristol-Myers (BMY), Eli Lilly (LLY), GlaxoSmithKline (GSK), Johnson & Johnson (JNJ), Merck (MRK), Novartis (NVS), Pfizer (PFE), Roche (RHHBY) and Sanofi (SNY).
06/20/17
ADAM
06/20/17
NO CHANGE
Target $10
ADAM
Buy
Novadaq competing bids possible if not probable, says Canaccord
Canaccord analyst Jason Mills noted Novadaq (NVDQ) received an acquisition offer from Stryker (SYK) at a much greater equity value than what the company was trading at prior to the bid. Although he thinks Stryker is the most logical buyer of the franchise, he thinks there are several other potential acquirers, including Medtronic (MDT), Johnson & Johnson (JNJ) and Intuitive Surgical (ISRG), in that order. Mills believes this is a good exit for the company and that Stryker is getting a good asset. Mills maintains his Buy rating and $10 price target on Novadaq shares.
06/14/17
RHCO
06/14/17
NO CHANGE
RHCO
Eli Lilly has positive read through from J&J data, says SunTrust
SunTrust analyst John Boris says that data for Johnson & Johnson's (JNJ) Invokana for diabetes represented a best-case scenario for Eli Lilly (LLY). J&J's drug "significantly reduced the combined risk of cardiovascular death, myocardial infarction and nonfatal stroke in diabetes patients at risk for or with a history of CV diseases," and its efficacy on CV death is positive for the SGLT-2 class, to which Eli Lilly's Jardiance also belongs, according to the analyst. But the data leaves Jardiance, which reduced CV death by a statistically significant 38% versus Invokana's non-significant 13%, as the best in the class, wrote the analyst, who reiterates a $101 price target and a Buy rating on Eli Lilly.

TODAY'S FREE FLY STORIES

GSBC

Great Southern Bancorp

$56.80

0.25 (0.44%)

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TERP

TerraForm Power

$13.58

0.62 (4.78%)

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ABT

Abbott

$55.77

0.71 (1.29%)

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AGN

Allergan

$187.15

-10.63 (-5.37%)

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MERC

Mercer

$13.50

-0.05 (-0.37%)

04:58
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04:58
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04:58
Upgrade
Mercer rating change  »

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  • 27

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ADBE

Adobe

04:57
10/19/17
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Adobe analyst commentary  »

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ANGI

Angie's List

04:57
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Angie's List rating change  »

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GWW

Grainger

$208.81

3.39 (1.65%)

04:57
10/19/17
10/19
04:57
10/19/17
04:57
Downgrade
Grainger rating change  »

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MZOR

Mazor Robotics

$58.55

3.57 (6.49%)

, NUVA

NuVasive

$54.18

0.47 (0.88%)

04:55
10/19/17
10/19
04:55
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04:55
Downgrade
Mazor Robotics, NuVasive rating change  »

Mazor Robotics downgraded…

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Mazor Robotics

$58.55

3.57 (6.49%)

NUVA

NuVasive

$54.18

0.47 (0.88%)

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MTCH

Match Group

$25.52

-0.56 (-2.15%)

, IAC

IAC

$124.60

-0.55 (-0.44%)

04:55
10/19/17
10/19
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Conference/Events
Jefferies Internet analysts hold an analyst/industry conference call »

Internet Analysts…

MTCH

Match Group

$25.52

-0.56 (-2.15%)

IAC

IAC

$124.60

-0.55 (-0.44%)

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UBS

UBS

$17.26

0.02 (0.12%)

, CME

CME Group

$136.37

0.18 (0.13%)

04:55
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Conference/Events
Futures Industry Association to hold an expo »

33rd Annual FIA Futures…

UBS

UBS

$17.26

0.02 (0.12%)

CME

CME Group

$136.37

0.18 (0.13%)

NDAQ

Nasdaq

$74.60

-0.11 (-0.15%)

ICE

IntercontinentalExchange

$68.20

0.03 (0.04%)

CBOE

CBOE Holdings

$109.59

0.06 (0.05%)

BAC

Bank of America

$26.48

0.28 (1.07%)

GS

Goldman Sachs

$242.03

5.94 (2.52%)

JPM

JPMorgan

$97.99

0.37 (0.38%)

CS

Credit Suisse

$15.91

-0.11 (-0.69%)

C

Citi

$73.12

0.93 (1.29%)

AMZN

Amazon.com

$997.00

-12.13 (-1.20%)

MS

Morgan Stanley

$50.15

1.03 (2.10%)

WFC

Wells Fargo

$53.41

0.22 (0.41%)

AMTD

TD Ameritrade

$47.54

0.32 (0.68%)

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SNY

Sanofi

$49.53

-0.06 (-0.12%)

, PFE

Pfizer

$35.83

-0.37 (-1.02%)

04:55
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Conference/Events
Drug Information Association to hold a conference »

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SNY

Sanofi

$49.53

-0.06 (-0.12%)

PFE

Pfizer

$35.83

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ALKS

Alkermes

$51.09

-0.39 (-0.76%)

LLY

Eli Lilly

$85.73

-0.33 (-0.38%)

BMY

Bristol-Myers

$63.70

-0.48 (-0.75%)

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VPG

Vishay Precision

$24.40

0.55 (2.31%)

04:55
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04:55
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04:55
Conference/Events
Vishay Precision management to meet with Sidoti »

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  • 19

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SCS

Steelcase

$15.30

0.1 (0.66%)

04:55
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Conference/Events
Steelcase management to meet with Sidoti »

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General news
Philadelphia Fed Business Outlook Survey General Conditions Index to be reported at 08:30 »

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SB

Safe Bulkers

$3.12

-0.01 (-0.32%)

04:55
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  • 19

    Oct

COST

Costco

$157.55

-0.83 (-0.52%)

04:55
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Costco management to meet with Oppenheimer »

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  • 19

    Oct

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PLX

Protalix

$0.83

0.176 (26.91%)

04:55
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Protalix to host special shareholder meeting »

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  • 19

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