Johnson & Johnson Ups Forecast, Beats On EPS—But Wall Street Is Cautious

Shares of Johnson & Johnson (NYSE:JNJ) are under pressure Thursday, despite a strong second-quarter earnings report.

Here are some key analyst takeaways.

• BofA Securities analyst Tim Anderson reiterated a Neutral rating, while raising the price target from $161 to $175.
• Guggenheim Securities analyst Vamil Divan maintained a Neutral rating, while lifting the price target from $164 to $167.
• RBC Capital Markets analyst Shagun Singh reaffirmed an Outperform rating, while raising the price target from $181 to $185.

Check out other analyst stock ratings.

BofA Securities: Johnson & Johnson earnings came in 3% higher than consensus. The company's operating leverage was "slightly diluted by higher tax," Anderson said in a note.

The company delivered a strong quarter and raised its full-year guidance, due to both its underlying performance and better forex impact, the analyst stated. In 2026, JNJ expects sales growth to be higher, but defers on margin accretion given tariff uncertainty.

Guggenheim Securities: Johnson & Johnson reported second-quarter sales of $23.74 billion. It beat the consensus of $22.87 billion. Earnings of $2.77 per share came in higher than estimates of $2.68 per share, Divan said.

Management raised their 2025 sales guidance from $91.0-$91.8 billion to $93.2-$93.6 billion and earnings outlook by 25 cents per share at the midpoint to $10.80-$10.90 per share.

RBC Capital Markets: The stock climbed after Johnson & Johnson reported results, mainly due to "the quality of earnings," Singh said. Innovative Medicine gained market share while MedTech executed better than expected.

The company’s gross margin came in better than consensus by around 130 basis points. "JNJ lowered its expectations for tariffs ($200MM or 0.6% of MedTech sales, no pharma) and is committed to $55B U.S. investment over next four years to mitigate future tariff risks," the analyst wrote.

JNJ Price Action: Shares of Johnson & Johnson had declined by 1.46% to $162.38 at the time of publication on Thursday.

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