Johnson & Johnson's Innovative Medicines Momentum Offsets MedTech Headwinds, RBC Capital Markets Says
MT newswire2026/10/06 15:2111:21 AM EDT, 10/06/2026 (MT Newswires) -- Johnson & Johnson's (JNJ) Innovative Medicines segment acceleration is helping overcome persistent headwinds in its MedTech business, RBC Capital Markets said in a Tuesday note. The investment firm said it expects fiscal Q3 sales to come in 1% ahead of estimates, driven by a 1.3% beat in the Innovative Medicines segment anchored by Tremfya, Icotyde, and Darzalex, while projecting EPS of $2.55, below consensus of $2.81. Analysts said the Firefly and Sail deals are not fully reflected in the consensus. Management noted about 17,000 patients were treated with Icotyde in fiscal Q3, with 60% being treatment-naive and full US insurance coverage achieved, according to the note. In MedTech, lingering competitive dynamics in electrophysiology and pulsed field ablation, along with persistent geopolitical drag, have softened the H2 recovery thesis, though procedure volumes remain intact, the firm said. The company is set to report its Q3 financial results on Oct. 13. RBC Capital Markets maintained its outperform rating on Johnson & Johnson, and raised its price target to $290 from $287. Price: 252.33, Change: -0.60, Percent Change: -0.24
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Jensen Huang's influence surpasses that of Nvidia— and that's exactly the problem
Jensen Huang has been the key driving force behind the massive expansion of AI infrastructure, with his personal credibility and authoritative decision-making deeply embedded in the narrative of the global tech market’s rise over the past three years. Now, as scandals emerge, Nvidia’s trading team is expected to become more conservative and slow down external financing commitments, which undoubtedly worsens the situation for neoclouds already facing tight funding.
Deutsche Bank made significant Q3 purchases of midstream AI application stocks: the three major cloud giants saw increased holdings, with Palantir (PLTR.US) and Salesforce (CRM.US) also favored.
Deutsche Bank has submitted its third quarter 13F holdings report for the period ending September 30, 2026.
Crypto prices
More
