NEW YORK (TheStreet) -- Johnson & Johnson (JNJ - Get Report) stock is declining by 0.68% to $95.34 in early morning trading on Tuesday, after the company reported revenue that missed estimates for the third quarter of 2015 due to a negative currency impact.

Earnings per share, however, beat estimates for the most recent quarter.

The company reported earnings of $1.49 per share on revenue of $17.1 billion for the latest quarter, while analysts were expecting earnings of $1.45 per share on revenue of $17.45 billion.

"New and core products drove solid underlying growth for Johnson & Johnson in the quarter," CEO Alex Gorsky said in a statement. "Consistent with the plans we've laid out for the year, we're focusing our portfolio and are advancing our innovation agenda to expand our leadership position in key categories while seeking new opportunities for growth."

Additionally, Johnson & Johnson's board approved a plan to buy back up to $10 billion in shares.

TheStreet's Jim Cramer, portfolio manager of the Action Alerts PLUS charitable trust portfolio, had this to say about Johnson & Johnson: "The lower tax rate sure helped as did the buyback, but I want more growth and think that Eli Lilly (LLY) with its recent comedown makes more sense to buy."

Separately, TheStreet Ratings team rates JOHNSON & JOHNSON as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:

We rate JOHNSON & JOHNSON (JNJ) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, notable return on equity, reasonable valuation levels, expanding profit margins and growth in earnings per share. We feel its strengths outweigh the fact that the company has had lackluster performance in the stock itself.

You can view the full analysis from the report here: JNJ

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