Christine Short and William Soliman break down Johnson & Johnson’s (JNJ) earnings, with revenue and EPS beats plus raised guidance overshadowed by another MedTech miss. Pharma remains the key growth engine, led by Tremfya, though competition from AbbVie (ABBV), Eli Lilly (LLY) and others remains a concern. They also discuss a potential hips-and-knees spinoff, international MedTech headwinds and JNJ’s M&A strategy, while Solomon calls the stock a long-term buy and hold.