Johnson & Johnson shares dropped 0.59% to $173.36 Wednesday. This proved to be an all-around rough trading session for the stock market, with the S&P 500 Index SPX falling 0.46% to 4,402.66 and Dow Jones Industrial Average DJIA falling 0.92% to 34,792.67.
Johnson & Johnson closed $1.14 below its 52-week high ($174.50), which the company reached on August 3rd. The stock demonstrated a mixed performance when compared to some of its competitors Wednesday, as Roche Holding AG Part. Cert. RHHVF rose 4.99% to $388.97, Merck & Co. Inc. MRK fell 1.22% to $75.48, and Pfizer Inc. PFE fell 1.07% to $45.19.
Edward Jones analyst Ashtyn Evans said a settlement in the opioid epidemic and potential deals tied to Johnson & Johnson talcum powder litigation could resolve uncertainty for investors in stock. Meanwhile, the company is recovering nicely from the pandemic. In the second quarter, the company earned $2.48 per share, minus some items, on $23.31 billion in sales. Earnings surged 48.5%, and sales rose 27.1%. Both measures easily beat stock analysts’ forecasts for adjusted profit of $2.28 per share and $22.49 billion in sales. Sales of J&J’s single-shot Covid vaccine brought in $164 million worldwide, including $51 million in the U.S.
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