Health
J&J to Wall Street: We Warned You Exchange Rates Would Hit Forecast
- CEO Duato called out 2025 threat at JPMorgan conference
- Less than half of analysts updated projections, company says
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Johnson & Johnson warned Wall Street about the perils of the strong dollar. Now the drug and device maker is saying analysts failed to hear the message.
The shares fell by as much as 4.1% on Wednesday after J&J’s 2025 forecast, dragged down by the strong dollar, came in short of expectations. That’s because less than half of the analysts who cover the company updated their estimates to reflect the dollar’s surging value, according to executives.