Why Johnson & Johnson Shares Sold Off Today - Apple Latest
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Why Johnson & Johnson Shares Sold Off Today

Mixed quarterly results and narrower guidance did not satisfy investors.
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The recent earnings season has begun, and the latest quarterly business results from some of the largest economic companies are starting to come in.

Tuesday morning, a mainstay of the healthcare industryJohnsonfirms(NYSE: JNJ)The company has been in the spotlight, but investors have not been very happy with its performance. After the company's first-quarter results were released, the stock price fell more than 2%.Standard & Poor's 500The index lost 0.2% during the day.

The company's first-quarter performance was a mixed bag.

For the first quarter, Johnson & Johnson reported sales of $21.38 billion, an increase of more than 21 TP3T year-over-year. non-GAAP (adjusted) net income also increased, rising nearly 41 TP3T to $6.58 billion, and carries earnings per share of $2.71.

It was a mixed quarter for the medicinal healthcare giant, as its sales fell slightly short of the analysts' consensus estimate of $21.40 billion, but its adjusted net income per share topped the average estimate of $2.64.

In Johnson & Johnson's investor presentation on its industry merit, the company quotes mat executive Joaquin Duato as saying that this "reflects the progress we have made in sharpening our focus on our product groups and product lines."

Guidance narrows

Johnson & Johnson narrowed its full-year guidance slightly; the lowering of the upper end of the guidance range may have also contributed to the sell-off in the stock. The company now forecasts aggregate sales of $88 billion to $88.4 billion, compared with previous guidance of $87.8 billion to $88.6 billion. Adjusted earnings estimates have also been revised. The new range is $10.57 to $10.72 per share; the previous range was $10.55 to $10.75.

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Eric Volkman does not own any of the aforementioned stocks.The Motley Fool recommends Johnson & Johnson.The Motley Fool has a disclosure policy.

Why Johnson & Johnson Stock Sold Off Today was originally published by The Motley Fool.

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