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Johnson & Johnson's stock climbs after company beats earnings estimates and raises profit guidance

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Johnson & Johnson raised its full year EPS guidance and lifted the midpoint of its sales range

Johnson & Johnson’s stock rose 1.5% in premarket trade Tuesday, after the medtech and drug company posted better-than-expected third-quarter earnings and raised its profit guidance.

Sales rose 6.8% to $21.351 billion from $19.996 billion a year ago, also ahead of the $21.036 billion FactSet consensus. The company spun off its consumer health business earlier this year into a separate company called Kenvue KVUE, +0.88%. Kenvue houses the company’ consumer health business which includes a host of household name brands, including Tylenol, Listerine, Band-Aid, Neutrogena and Nicorette.

It expects full-year EPS to range from $10.02 to $10.08, compared with prior guidance of $9.90 to $10.00. The company expects adjusted EPS to range from $10.07 to $10.13, compared with prior guidance of $10.00 to $10.10.

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