Johnson & Johnson (NYSE:JNJ) Issues Earnings Results, Beats Estimates By $0.07 EPS

Johnson & Johnson (NYSE:JNJ) announced its quarterly earnings data on Tuesday. The company reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $0.07, RTT News reports. Johnson & Johnson had a return on equity of 37.27% and a net margin of 37.79%. The firm had revenue of $21.38 billion for the quarter, compared to the consensus estimate of $21.39 billion. During the same quarter last year, the business posted $2.68 earnings per share. The firm’s revenue was up 2.3% compared to the same quarter last year. Johnson & Johnson updated its FY 2024 guidance to 10.570-10.720 EPS and its FY24 guidance to $10.57-10.72 EPS.

Johnson & Johnson Price Performance

NYSE JNJ opened at $147.49 on Tuesday. The stock has a market capitalization of $355.42 billion, a P/E ratio of 10.68, a P/E/G ratio of 2.48 and a beta of 0.53. Johnson & Johnson has a 1 year low of $144.95 and a 1 year high of $175.97. The business’s fifty day moving average is $157.07 and its two-hundred day moving average is $155.90. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.91 and a current ratio of 1.16.

Johnson & Johnson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st will be given a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 3.36%. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date of this dividend is Monday, May 20th. Johnson & Johnson’s dividend payout ratio is 34.47%.

Wall Street Analysts Forecast Growth

JNJ has been the topic of a number of analyst reports. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 6th. Morgan Stanley reduced their price objective on Johnson & Johnson from $170.00 to $169.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 24th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research note on Monday. Raymond James boosted their target price on Johnson & Johnson from $172.00 to $175.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 3rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $181.00 price objective on shares of Johnson & Johnson in a research report on Wednesday, February 28th. Seven analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $177.31.

Insider Buying and Selling at Johnson & Johnson

In other Johnson & Johnson news, major shareholder & Johnson Johnson sold 3,725 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $25.81, for a total transaction of $96,142.25. Following the sale, the insider now directly owns 4,099,575 shares of the company’s stock, valued at approximately $105,810,030.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, major shareholder & Johnson Johnson sold 3,725 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $25.81, for a total value of $96,142.25. Following the completion of the sale, the insider now directly owns 4,099,575 shares in the company, valued at $105,810,030.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jennifer L. Taubert sold 59,397 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $156.27, for a total transaction of $9,281,969.19. Following the completion of the sale, the executive vice president now owns 141,416 shares of the company’s stock, valued at $22,099,078.32. The disclosure for this sale can be found here. 0.16% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Moneta Group Investment Advisors LLC grew its stake in shares of Johnson & Johnson by 90,144.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 54,386,720 shares of the company’s stock valued at $9,607,414,000 after purchasing an additional 54,326,454 shares during the last quarter. Norges Bank bought a new position in shares of Johnson & Johnson during the fourth quarter worth $4,609,399,000. Morgan Stanley raised its holdings in shares of Johnson & Johnson by 12.0% during the fourth quarter. Morgan Stanley now owns 42,224,521 shares of the company’s stock worth $7,458,962,000 after acquiring an additional 4,521,062 shares during the period. Barclays PLC increased its stake in Johnson & Johnson by 61.0% in the 2nd quarter. Barclays PLC now owns 11,287,765 shares of the company’s stock valued at $1,868,351,000 after buying an additional 4,278,512 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in Johnson & Johnson by 22.2% in the 4th quarter. Legal & General Group Plc now owns 22,104,221 shares of the company’s stock valued at $3,464,617,000 after buying an additional 4,021,883 shares during the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Company Profile

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.