Johnson & Johnson (JNJ) shares fell significantly after its third-quarter results, even though the company beat expectations and slightly raised its full-year guidance. Revenue reached $25.4 billion, up 5.9%, while adjusted EPS of $2.59 fell 7.5%, a decline the company attributed mostly to acquisitions. Innovative medicine sales rose 7.7% to $16.8 billion, led by Darzalex and Tremfya, but medtech revenue of $8.6 billion, up 2.5%, fell short of expectations and drove the post-earnings dip, with the cardiovascular unit hurt by safety and efficacy concerns about the Impella heart pumps. The article points to new drugs such as ICOTYDE and Imaavy as medium-term growth drivers and says the Ottava robotic surgery device could help medtech recover. The author argues investors should hold the stock for the long term, citing JNJ's 64 consecutive years of dividend increases.
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