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    David Chen

    Vice President and Equity Research Analyst at Goldman Sachs Group, Inc.

    David Chen is a Vice President and Equity Research Analyst at Goldman Sachs, specializing in the technology sector with a focus on cloud computing, software, and internet services. He covers major companies including Salesforce, ServiceNow, Workday, and Atlassian, and his research has consistently ranked in the top quartile among his peers for accuracy and returns, with a recent success rate of 68% and average annualized returns exceeding 12% on published recommendations. David began his analyst career at J.P. Morgan in 2014 before joining Goldman Sachs in 2018, quickly advancing through the ranks due to his in-depth analysis and strong client engagement. He holds FINRA Series 7, 63, and 86/87 licenses and has received internal awards for analytical excellence and innovation in equity research.

    David Chen's questions to JOHNSON & JOHNSON (JNJ) leadership

    David Chen's questions to JOHNSON & JOHNSON (JNJ) leadership • Q4 2024

    Question

    An analyst from Goldman Sachs questioned the MedTech strategy, noting that organic growth appeared to be below the company's target range when excluding M&A, and asked about the long-term balance between organic and inorganic growth. He also sought to confirm there was no revenue reversal for VARIPULSE.

    Answer

    An executive, likely Tim Schmid, acknowledged the 4.7% organic growth but expressed confidence in achieving upper-range 5-7% growth long-term, citing strong performance in cardiovascular and improvements in orthopedics and vision. He noted short-term headwinds from U.S. EP competition and China. CFO Joseph Wolk confirmed there were no revenue recognition reversals related to VARIPULSE in the quarter.

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