Johnson & Johnson (NYSE:JNJ) stock rose 0.32% (As on Oct 20, 11:46:18 AM UTC-4, Source: Google Finance) after the company posted mixed results for the third quarter of FY 21. However, the company has raised its 2021 earnings forecast after the net income climbed 3% to $3.67 billion. The sales of the cancer treatment Darzalex helped Johnson & Johnson deliver beaten the third-quarter earnings, while COVID-19 fueled vaccine revenue and had more customers reaching for Tylenol. Jonhson & Johnson’s coronavirus vaccine booster shot was recently recommended for emergency use authorization by U.S. FDA Advisory Committee.

Moreover, Consumer Health worldwide operational sales, excluding the net impact of acquisitions and divestitures, increased 5.7% mainly due to the over-the-counter (OTC) products. Major contributors to growth were TYLENOL and MOTRIN analgesics, upper respiratory products, and digestive health in OTC, and AVEENO in Skin Health / Beauty. Pharmaceutical worldwide operational sales, excluding the net impact of acquisitions and divestitures, grew 13.8% driven by DARZALEX (daratumumab), for the treatment of multiple myeloma, STELARA (ustekinumab), a biologic for the treatment of a number of immune-mediated inflammatory diseases, TREMFYA (guselkumab), a biologic for the treatment of adults living with moderate to severe plaque psoriasis, and for adults with active psoriatic arthritis, ERLEADA (apalutamide), a next-generation androgen receptor inhibitor for the treatment of patients with prostate cancer, INVEGA SUSTENNA/XEPLION/INVEGA TRINZA/TREVICTA (paliperidone palmitate), long-acting, injectable atypical antipsychotics for the treatment of schizophrenia in adults, and OPSUMIT (macitentan) an oral endothelin receptor antagonist indicated for the treatment of pulmonary arterial hypertension to delay disease progression. Medical Devices worldwide operational sales, excluding the net impact of acquisitions and divestitures, grew 7.6%, driven by electrophysiology products in Interventional Solutions, wound closure products in General Surgery, surgical vision products and contact lenses in Vision, trauma, hips, and knees in Orthopaedics, and energy, endocutters, and biosurgicals in Advanced Surgery.

JNJ in the third quarter of FY 21 has reported the adjusted earnings per share of $2.60, beating the analysts’ estimates for the adjusted earnings per share of $2.37, according to the Zacks Consensus Estimate. The company had reported the adjusted revenue growth of 10.7 percent to $23.34 billion in the third quarter of FY 21, missing the analysts’ estimates for revenue by 1.21%.

Johnson & Johnson has increased its 2021 reported sales guidance from $93.8 billion – $94.6 billion to $94.1 billion – $94.6 billion. Adjusted EPS guidance is also increased from $9.50 – $9.60 to $9.77 – $9.82.