PREVIEW: Johnson & Johnson earnings expected to decline in Q3

By Reuters News

** Johnson & Johnson JNJ.N shares up 0.6% at $263.00 on Mon ahead of qtrly results before the bell, with investors watching for a rebound in its medtech unit

** The healthcare conglomerate is expected to post Q3 rev of $25.28 bln and adj EPS of $2.54, down from EPS of $2.80 but up from revenue of $23.99 bln a year ago, per LSEG

** Last qtr, co beat estimates on strong pharma sales but its Abiomed heart pump business saw sales decline following a critical UK study

** In Sept, an experimental depression drug co-developed with Contineum Therapeutics CTNM.O failed to meet the main goal of a mid-stage study

** JNJ has met or surpassed EPS and revenue estimates for at least past 8 qtrs

** Of the 26 analysts covering Johnson & Johnson, the breakdown of recommendations is 19 "strong buy" or "buy" and 7 "hold" ratings

** Median price target of $282 is unchanged over the past month

** JNJ shares up ~27% YTD, outperforming ~8% gain in Dow Industrials .DJI

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