J&J’s stock slightly higher as company offers guidance for 2024 and longer term

Johnson & Johnson’s stock
JNJ,
+0.66%
was slightly higher premarket Tuesday, after the healthcare company set guidance for 2024 and for the longer term, ahead of an investor day at the New York Stock Exchange. The company said it expects 2024 sales to grow 5% to 6% and for adjusted EPS to range from $10.55 to $10.75, including the recently announced acquisition of medical tech company Laminar Inc. , which will shave 15 cents off earnings. The FactSet consensus is for EPS of $10.78. The company expects at least 3% operational sales growth in 2025 for its enterprise division, even as Stelara, a treatment for plaque psoriasis and psoriatic arthritis, will see competition in the U.S. from a biosimilar. It expects 5% to 7% operational sales compound annual growth rate from 2025 to 2030. At the medtech segment, it expects operational sales to be at the upper range of its markets, which are expected to grow 5% to 7% through 2027. Innovative medicine is expected to see 5% to 7% operational sales growth from 2025 to 2030. The stock has fallen 10% in the year to date, while the S&P 500
SPX,
+0.59%
has gained 19%.