Johnson & Johnson (NYSE:JNJ) stock rose 1.73% (As on October 15, 11:21:06 AM UTC-4, Source: Google Finance) after the company reported third-quarter earnings and revenue that exceeded analyst expectations, prompting the healthcare giant to raise its full-year operational sales outlook. The company’s Innovative Medicine segment saw operational sales growth of 6.3%, driven by strong performance from drugs like DARZALEX, ERLEADA, and TREMFYA. Darzalex is the most prescribed monoclonal antibody treatment for newly diagnosed multiple myeloma and the treatment continues to gain market share across all regions. The drug generated third-quarter revenue of over $3 billion, increasing 20.7% on a reported basis and 22.9% year over year in constant currency. Meanwhile, the MedTech division reported operational sales growth of 6.4%, boosted by cardiovascular products and contact lenses. Erleada, a prostate cancer treatment, came in strong with 25.4% growth to $790 million. That topped Johnson & Johnson stock analysts view by 3.1%. Cell therapy Carvykti “continues to build momentum.” Sales soared about 88% to $286 million, accelerating from 60% growth in the second quarter. The company has a “robust” pipeline of new products. But it will have to address more than 62,000 lawsuits related to its talc-based products, including baby powders.

JNJ in the third quarter of FY 24 has reported the adjusted earnings per share of $2.42, beating the analysts’ estimates for the adjusted earnings per share of $2.19. The company had reported the adjusted revenue growth of 5.2 percent to $22.5 billion in the third quarter of FY 24, beating the analysts’ estimates for revenue of $22.17 billion.

Additionally, the company has declared a cash dividend for the fourth quarter of 2024 of $1.24 per share on the company’s common stock. The dividend is payable on December 10, 2024 to shareholders of record at the close of business on November 26, 2024. The ex-dividend date is November 26, 2024.

Johnson & Johnson raised its full-year 2024 operational sales guidance. The company now expects operational sales between $89.4 billion and $89.8 billion, up from its prior forecast of $89.2 billion to $89.6 billion. However, Johnson & Johnson adjusted its full-year 2024 adjusted operational EPS guidance to reflect both improved performance and the acquisition of V-Wave. The company now projects adjusted operational EPS between $9.86 and $9.96, down from the previous guidance of $10 to $10.05, as costs associated with the V-Wave acquisition more than offset the improved outlook.