PREVIEW: Johnson & Johnson down ahead of quarterly earnings report

Shares of Johnson & Johnson JNJ.N down 0.1% to $218.39 ahead of quarterly earnings due before the opening bell on Wednesday

Wall Street analysts expect JNJ to report ~7.3% growth in rev to ~$24.16 bln as well as a ~20% jump in adj EPS to $2.44

JNJ's rev and adj EPS have met or exceeded analyst expectations every time over the last 8 quarters

JNJ won exemption from U.S. tariffs after reaching an agreement with the Trump administration to lower drug prices

In November, JNJ said it would buy Halda Therapeutics for $3.05 billion in cash, expanding its presence in solid tumors and prostate cancer treatments

Among 28 analysts covering JNJ, avg rating is "BUY" and median PT is $211.04

JNJ options imply a 3.3% swing for the shares, in either direction, by Friday; that's higher than the stock's avg move, on the day of results, of 2.2%, over the last eight qtrs, according to Trade Alert

JNJ is up 5.6% YTD vs 0.2% rise in S&P 500 healthcare index .SPXHC