On July 15, Johnson & Johnson declined 3.02% in regular trading, trading at approximately $246.27 per share with turnover of $1.839 billion. The sell-off came despite the company reporting Q2 results that exceeded Wall Street estimates and raising its full-year guidance.

Johnson & Johnson posted Q2 adjusted EPS of $2.90, beating the consensus estimate of $2.85, while revenue of $25.31 billion topped the $25.05 billion forecast, representing 6.6% year-over-year growth. The company raised its fiscal year adjusted EPS guidance to $11.60-$11.75 (midpoint $11.68 vs. $11.58 consensus) and lifted its sales outlook midpoint to $101.1 billion. However, investors focused on decelerating growth in the MedTech segment, which offset strong performance in oncology and innovative medicine. Management noted on the earnings call that surgical volumes remain stable with no broad-based demand slowdown observed. Additionally, the company initiated a supply chain restructuring plan focused on its innovative medicine segment, estimated to cost $650-$750 million through fiscal year-end 2029.

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