JNJ announced an upbeat earnings report
Shares of Johnson & Johnson (NYSE:JNJ) are up 2.4% to trade at $165.43 this morning, after the company posted a third-quarter beat and hiked its full-year revenue guidance. The Cincinnati-based equity also shared a quarterly cash dividend of $1.24 per share, payable on Dec. 10.
On the charts, JNJ is breaking above recent pressure at the 20-day moving average. This morning’s earlier pullback was caught by firm support at the $59 level. Year to date, the equity is up 5.6%.
Analyst sentiment has been lukewarm, with 12 of the 20 covering firms sporting a tepid “hold” recommendation coming into today. However, should some of this sentiment become more optimistic, it could aid the shares in the quest to push higher.