Johnson & Johnson (NYSE:JNJ) sales down 10%, stock price still hovering around $145 – Idaho Reporter

NYSE

Johnson & Johnson (NYSE:JNJ) sales down 10%, stock price still hovering around $145

Johnson & Johnson (NYSE: JNJ) early on Thursday announced Q2 2020 results.

Sales of $18.3 billion reflecting a decline of 10.8%, operational decline of 9.0%* and adjusted operational decline of 8.8%*, primarily driven by the negative impact of the COVID-19 pandemic

Johnson and Johnson

“Our second quarter results reflect the impact of COVID-19 and the enduring strength of our Pharmaceutical business, where we saw continued growth even in this environment,” said Alex Gorsky, Chairman and CEO.

The estimated impact of the COVID-19 pandemic is included in the guidance below

source

Johnson & Johnson will conduct a conference call with investors to discuss this earnings release today at 8:00 a.m., Eastern Time. A simultaneous webcast of the call for investors and other interested parties may be accessed by visiting the Johnson & Johnson website. A replay and podcast will be available approximately two hours after the live webcast in the Investors section of the Company’s website at events-and-presentations.

On a year-to-date basis JNJ stock did not move a nudge. It opened this year with a $146 price tag while it closed on Wednesday at $148.26

I believe that there is a way for JNJ shares to go further this year, even though this decline is a significant one.

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