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J&J medical device sales increase 4.1% in Q4

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Johnson & JohnsonJohnson & Johnson (NYSE: JNJ) this week posted fourth-quarter results that beat the earnings consensus on Wall Street but missed revenue estimates.

The New Brunswick, New Jersey-based company reported profits of $4.7 billion, or $1.77 per share, on sales of $24.8 billion for the three months ended Dec. 31, 2021, for a bottom-line gain of 172.5% on sales growth of 10.4% compared with Q4 2020.

Adjusted to exclude one-time items, earnings per share were $2.13, 1¢ ahead of The Street, where analysts were looking for sales of $25.2 billion.

Medical device sales increased by 4.1% to $6.9 billion in Q4. Pharmaceutical sales rose 16.5% to $14.3 billion and consumer health product sales were up 1.1% to $3.7 billion over the same quarter of 2021, the company reported.

“Our 2021 performance reflects continued strength across all segments of our business. Guided by Our Credo, I am honored to assume the role of CEO, leading our global teams in continuing our work to deliver life-changing solutions to consumers, patients, and health care providers,” CEO Joaquin Duato said in a news release. “Given our strong results, financial profile, and innovative pipeline we are well-positioned for success in 2022 and beyond.”

Investors reacted by sending shares in JNJ up 0.75% to $164.18 apiece at market open.

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