Healthcare giant Johnson & Johnson (JNJ:NYSE) is expected to report first-quarter earnings on 16 April before the market open. Consensus forecasts call for EPS (earnings per share) of $2.63, a slight fall of 2% compared with the same period in 2023.

Over the prior four quarters the company has bested consensus estimates by an average of around 5% according to Nasdaq.com.

Fourth-quarter 2023 earnings topped expectations helped by strong sales of J&J’s blockbuster psoriasis treatment Stelara, but the drug faces fresh competition this year from biosimilar versions as J&J loses exclusivity.

The company said it expected volumes of surgical procedures to remain above pre-Covid levels during 2024. In February, medical devices maker Becton Dickinson (BDX:NASDAQ) raised its full year earnings guidance after seeing strong demand for surgical equipment.

On 5 April, J&J boosted its medical devices portfolio after agreeing to purchase Shockwave Medical (SWAV:NASDAQ) for about $12.5 billion or $335 per share, representing a 5% premium to the prior closing price.

News of J&J’s interest surfaced on 26 March, sending shares in Shockwave up 11% on the day.

California-based Shockwave makes devices which use shockwaves to break down calcified plaque in heart vessels. 

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