Johnson & Johnson Beats Q1 Estimates, Premarket Not Doing Well

Johnson & Johnson (NYSE: JNJ) on Tuesday reported better-than-expected Q1 results and lifted its sales forecast for the full year.

Johnson & Johnson (NYSE: JNJ), together with its subsidiaries, engages in the research and development, manufacture, and sale of various products in the healthcare field worldwide, operating in two segments, Innovative Medicine and MedTech. Posted adjusted earnings per share (EPS) of $2.77 on revenue of $21.89 billion.

However, analysts had expected $2.56 and $21.56 billion, respectively, according to estimates compiled by Visible Alpha.

Price Action
Shares of Johnson & Johnson (NYSE: JNJ) were up about 1% immediately following the report, but the uptick was shortlived as the stock is down -0.54% in premarket trading. They entered the day up about 7% since the start of the year.

The company lifted its projected sales range to $91.0 billion to $91.8 billion, up from $89.2 billion to $90.0 billion previously. It also held its adjusted EPS forecast steady at $10.50 to $10.70, "including tariff costs, dilution from the Intra-Cellular Therapies acquisition, and updated foreign exchange."

Since reporting a disappointing 2025 sales outlook in January, the company closed its nearly $15 billion acquisition of Intra-Cellular Therapies and announced plans to lift its U.S. investment to more than $55 billion over the next four years.23

Technical Outlook
Shares of JNJ closed Monday's session up 1.73% and despite the Q1 Earnings beat, the premarket session tells a different story as the asset is down 0.54% in Tuesday's session.

The asset is trading within an enclosed rectangular formation with a perfectly formed support and resistant zones as indicated in the chart. A break above the the key moving averages could cement a bullish breakout that may resort to a break above the $169 resistant point.

With the RSI at 45.35, JNJ is well positioned for a bullish campaign once traders digest the earnings news.