(CercleFinance.com) – Johnson & Johnson announced on Wednesday that its board of directors had approved a share buyback program worth up to five billion dollars.
In a press release, the American pharmaceutical group indicates that this share buyback plan is a sign of its confidence in its activity and in its portfolio of new drug projects (‘pipeline’).
‘The past years have demonstrated all the resistance of Johnson & Johnson’, underlines Joaquin Duato, its managing director, who highlights the solidity of the company’s cash flow and net debt at its lowest for five years.
J&J took the opportunity to reaffirm its objective of sales growth of 6.5% to 7.5% this year, accompanied by earnings per share (EPS) between 10.65 and 10.75 dollars, knowing that the consensus is currently targeting $10.07.
The healthcare giant’s stock gained 0.5% in off-hours trading before the opening of Wall Street in response to the announcements.
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