Johnson & Johnson (JNJ) early Tuesday reported adjusted earnings of $2.29 per share on $21.4 billion in fourth-quarter sales. JNJ stock inched higher in early trades.

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Analysts polled by FactSet expected Johnson & Johnson to earn $2.28 a share and report $21.02 billion in sales.  During the year-earlier period, J&J earned $2.05 per share on $19.94 billion in sales.

Evercore ISI analyst Vijay Kumar noted medtech sales came in well above forecasts, growing 13.3% to $7.67 billion.

“In general, the beat bodes well for medtech across the board,” he said in a report.

For the year, the health care giant guided to adjusted earnings of $10.55 to $10.75 per share and $87.8 billion to $88.6 billion in sales. JNJ stock analysts forecasted an adjusted $10.67 per share in earnings and $87.88 billion in sales.

In premarket trades on today’s stock market, JNJ stock rose a fraction to 163.

More to follow.

Follow Allison Gatlin on X, the platform formerly known as Twitter, at @IBD_AGatlin.

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