Johnson & Johnson's orthopedic sales bounced back in the first quarter, increasing 1.2 percent year over year, according to the company's financial report.
Six notes:
1. Although the orthopedic segment saw a return to growth overall, the recovery was mixed among procedures types.
2. First-quarter hip sales increased 3.2 percent year over year to $357 million.
3. Spine, sports and other sales decreased 2.2 percent to $706 million, and knee sales declined 9.9 percent to $317 million, compared to the first quarter of 2020.
4. The medical device segment, which saw four consecutive quarters of declines in 2020, reported $6.6 billion in first-quarter sales in 2021, representing 8 percent year-over-year growth.
5. The company expects orthopedic sales in the second and third quarters "to be on good trends" based on "surgical planning reports that we saw, especially through the end of first quarter," CEO Alex Gorsky said in an April 20 earnings call transcribed by The Motley Fool.
6. Johnson & Johnson posted $100 million in first-quarter sales of its COVID-19 vaccine.