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Johnson & Johnson (JNJ) Stock Falls Amid Market Uptick: What Investors Need to Know

In the latest market close, Johnson & Johnson (JNJ) reached $145.65, with a -0.21% movement compared to the previous day. This change lagged the S&P 500's 0.25% gain on the day. At the same time, the Dow added 0.15%, and the tech-heavy Nasdaq gained 0.03%.

Shares of the world's biggest maker of health care products witnessed a loss of 3.52% over the previous month, trailing the performance of the Medical sector with its gain of 0.11% and the S&P 500's gain of 3.34%.

The investment community will be closely monitoring the performance of Johnson & Johnson in its forthcoming earnings report. The company is scheduled to release its earnings on July 17, 2024. The company's earnings per share (EPS) are projected to be $2.73, reflecting a 2.5% decrease from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $22.38 billion, indicating a 12.32% decline compared to the corresponding quarter of the prior year.

JNJ's full-year Zacks Consensus Estimates are calling for earnings of $10.63 per share and revenue of $88.38 billion. These results would represent year-over-year changes of +7.16% and -4.99%, respectively.

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It's also important for investors to be aware of any recent modifications to analyst estimates for Johnson & Johnson. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.08% decrease. Johnson & Johnson is currently a Zacks Rank #3 (Hold).

Looking at its valuation, Johnson & Johnson is holding a Forward P/E ratio of 13.73. This represents a discount compared to its industry's average Forward P/E of 14.43.

We can additionally observe that JNJ currently boasts a PEG ratio of 2.43. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Large Cap Pharmaceuticals industry currently had an average PEG ratio of 1.78 as of yesterday's close.

The Large Cap Pharmaceuticals industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 156, positioning it in the bottom 39% of all 250+ industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

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