Johnson & Johnson (JNJ) closed at $146.18 in the latest trading session, marking a +1.75% move from the prior day. The stock outpaced the S&P 500's daily loss of 1.11%. Elsewhere, the Dow saw a downswing of 0.42%, while the tech-heavy Nasdaq depreciated by 1.89%.

Heading into today, shares of the world's biggest maker of health care products had lost 3.97% over the past month, outpacing the Medical sector's loss of 6.22% and lagging the S&P 500's loss of 1.7% in that time.

Investors will be eagerly watching for the performance of Johnson & Johnson in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on January 22, 2025. The company is predicted to post an EPS of $2, indicating a 12.66% decline compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $22.54 billion, indicating a 5.37% upward movement from the same quarter last year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Johnson & Johnson. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.03% higher. Currently, Johnson & Johnson is carrying a Zacks Rank of #2 (Buy).

From a valuation perspective, Johnson & Johnson is currently exchanging hands at a Forward P/E ratio of 13.62. This denotes a premium relative to the industry's average Forward P/E of 12.34.

One should further note that JNJ currently holds a PEG ratio of 2.33. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Large Cap Pharmaceuticals industry was having an average PEG ratio of 1.26.

The Large Cap Pharmaceuticals industry is part of the Medical sector. With its current Zacks Industry Rank of 191, this industry ranks in the bottom 24% of all industries, numbering over 250.