Johnson & Johnson is among the most diverse and large healthcare companies in the world. Interestingly, the company has recently been in the news for its single-dose COVID vaccine. Johnson & Johnson is known for its diverse product line, its scale and distribution prowess, and its research & development track record. If you are in search of the best health care stocks to invest in, then Johnson & Johnson might be a good option to consider. Wall Street Journal ranked the company as the 9th best managed in the year 2020, while Fortune magazine ranked it #1 in the pharmaceutical category. Johnson & Johnson has business verticals in pharmaceuticals, consumer health, and medical devices.
Johnson & Johnson Reports Q12021 Earnings Results
On 20th April 2021, Johnson & Johnson reported its first-quarter 2021 earnings results. Sales rose 7.9% year-on-year to $22.3 billion, while earnings per share on a diluted basis also grew 6.9% year-on-year. The US sales were up 3.9% year-on-year, while international sales were up 12%. The consumer health segment sales were down 2.3% year-on-year, while the pharmaceutical segment sales were up 9.6%. Meanwhile, the medical device segment also delivered a strong performance, with sales rising 10.9%.
Company CFO Joe Wolk said, “We are stronger as a business than before the pandemic, and our first-quarter 2021 results give us even more confidence in our ability to continue delivering compelling performance in the future.” Johnson & Johnson is counted as one of the best health care stock by investors.
Johnson & Johnson’s stock had been unable to break the $156 level in 2020 after testing it once in April 2020. In early 2021, the price did break out, and then re-tested the $156 level a couple of times. However, the resistance level turned into support, and now the price has moved back up to $170.