Barclays analyst Matt Miksic says Johnson & Johnson reported a strong Q3 earnings beat on pharma upside, partially offset by medical technology. The firm sees a positive initial read-though to medical technology cardio names Edwards Lifesciences (EW), Boston Scientific (BSX), Abbott (ABT) and Medtronic (MDT) and a potentially negative initial read for ortho names Stryker (SYK) and Zimmer Biomet (ZBH). Barclays keeps an Equal Weight rating on J&J.
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