Analysts on Wall Street project that Johnson & Johnson (JNJ Quick QuoteJNJ - Free Report) will announce quarterly earnings of $2.19 per share in its forthcoming report, representing a decline of 17.7% year over year. Revenues are projected to reach $22.19 billion, increasing 3.9% from the same quarter last year.

The consensus EPS estimate for the quarter has been revised 0.1% higher over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.

Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.

While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.

In light of this perspective, let's dive into the average estimates of certain Johnson & Johnson metrics that are commonly tracked and forecasted by Wall Street analysts.

Analysts expect 'Sales- MedTech- Total' to come in at $8.07 billion. The estimate indicates a year-over-year change of +8.2%.

Analysts predict that the 'Sales- Innovative Medicine- WW' will reach $14.12 billion. The estimate suggests a change of +1.7% year over year.

It is projected by analysts that the 'Sales- Innovative Medicine- Neuroscience- WW' will reach $1.80 billion. The estimate indicates a year-over-year change of +3.5%.

The average prediction of analysts places 'Sales- MedTech- Surgery- WW' at $2.54 billion. The estimate indicates a change of +2.6% from the prior-year quarter.

The collective assessment of analysts points to an estimated 'Sales- Innovative Medicine- Oncology- CARVYKTI- WW' of $236.90 million. The estimate indicates a change of +55.9% from the prior-year quarter.

The combined assessment of analysts suggests that 'Sales- Innovative Medicine- Neuroscience- SPRAVATO- WW' will likely reach $278.67 million. The estimate indicates a year-over-year change of +52.3%.

Analysts' assessment points toward 'Sales- MedTech- Orthopaedics- Hips- US' reaching $253.57 million. The estimate indicates a year-over-year change of +6.1%.

Analysts forecast 'Sales- MedTech- Orthopaedics- Hips- International' to reach $141.08 million. The estimate points to a change of +3.7% from the year-ago quarter.

Based on the collective assessment of analysts, 'Sales- MedTech- Orthopaedics- Knees- US' should arrive at $214.95 million. The estimate indicates a change of +3.8% from the prior-year quarter.

According to the collective judgment of analysts, 'Sales- MedTech- Orthopaedics- Knees- International' should come in at $143.70 million. The estimate suggests a change of +9.7% year over year.

The consensus estimate for 'Sales- MedTech- Orthopaedics- Trauma- US' stands at $500.29 million. The estimate indicates a change of +2.5% from the prior-year quarter.

The consensus among analysts is that 'Organic Sales Growth (Operational growth)' will reach 4.8%. The estimate is in contrast to the year-ago figure of 6.4%.

View all Key Company Metrics for Johnson & Johnson here>>>

Over the past month, Johnson & Johnson shares have recorded returns of -2.5% versus the Zacks S&P 500 composite's +5.9% change. Based on its Zacks Rank #4 (Sell), JNJ will likely underperform the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>