Johnson & Johnson board approves $10 billion buyback plan

The tepid quarterly and full-year projections notwithstanding, the New Brunswick, NJ.-based health-care conglomerate knows how to execute, having beaten the average analysts earnings-per-share (EPS) estimate in 18 straight quarters.

The company had already bought back $5-billion of shares in a program it announced in July past year. Revenue slid 7.4% to $17.10 billion. During the same quarter in the previous year, Johnson & Johnson posted $1.50 EPS. The highest estimate sees the stock going to $115 while the lowest has a $100 target.

Johnson & Johnson (NYSE:JNJ): 9 Brokerage firm Analysts have agreed with the mean estimate for the short term price target of $107 in Johnson & Johnson (NYSE:JNJ). This would show a 1.85% decrease from the Q215 revenue of $17.8 billion, and a decrease of 5.57% from the same period in Q314.

Shares of Johnson & Johnson (NYSE:JNJ) opened at 95.37 on Monday.

In the last quarter, Fastenal reported EPS of $0.48, which exceeded the estimates of $0.465.

J&J shares were up 1.31% at $97.25 in pre-market trading after the announcement.

Johnson & Johnson is a holding company.

Excluding fluctuations foreign exchange rates, which hurt revenue because of the stronger USA dollar, sales would have increased 0.8 percent, J&J said. The Company is engaged in the research and development, fabrication and sale of a range of products in the healthcare field. The Company has more than 265 managing businesses conducting business all over the world. The Companys primary focus has been on products related to human health and well-being.

The declining revenues can largely be expected to come on the back of deteriorating sales for the company’s medical devices segment. The Organization ‘s subsidiaries manage 134 manufacturing facilities occupying approximately 21.5 million square feet of floor space.