Sales for Johnson & Johnson‘s (NYSE:JNJ) medical device business, the world’s largest medtech operation, slid for the 4th quarter and 2015, the healthcare conglomerate said today.
J&J’s medical devices business put up sales of $6.43 billion for the 3 months ended Dec. 31, 2015, down -3.3%. Full-year sales were $25.14 billion, down -8.7%.
New Brunswick, N.J.-based Johnson & Johnson posted overall profits of $3.22 billion, or $1.15 per share, on sales of $17.81 billion for the quarter. That amounts to a 27.5% bottom-line increase on a -2.4% sales decline.
Full-year profits were $19.20 billion, or $5.48 per share, on sales of $70.07 billion, for a -6.6% profit slide on a -5.7% sales decline.
Still, Johnson & Johnson managed to beat the consensus earnings forecast on Wall Street for both periods. Adjusted to exclude 1-time items, Q4 earnings per share were $1.44, 2¢ ahead of The Street. Full-year adjusted EPS came in at $6.18 each, also 2¢ above the consensus.
Johnson & Johnson said it expects 2016 sales of $70.8 billion to $71.5 billion; analysts were looking for a forecast of $71.88 billion.
JNJ shares were up slightly in pre-market trading at $96.76 apiece today; the stock was up 2.1% to $98.40 in early activity.
