Forecast Of The Day: Johnson & Johnson’s Surgical Devices Revenue
What?
Johnson & Johnson’s (NYSE:JNJ) Surgical Devices Revenue declined from around $9.5 billion in 2019 to $8.23 billion in 2020. We expect the number to rise to around $9.71 billion in 2021 and around $10.5 billion in 2022.
Why?
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The sales decline in 2020 was largely due to the Covid-19 pandemic. However, we expect longer-term growth to be driven by higher demand for minimally invasive surgery (MIS) procedures and J&J’s advanced positioning in the global sterilization market.
So What?
We think J&J stock remains undervalued. We value Johnson & Johnson at $200 per share, marking a premium of 25% over the current market price.
See Our Complete Analysis For Johnson & Johnson
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