Cantor Fitzgerald Weighs in on Johnson & Johnson’s FY2024 Earnings (NYSE:JNJ)

Johnson & Johnson (NYSE:JNJ) – Equities researchers at Cantor Fitzgerald increased their FY2024 earnings estimates for shares of Johnson & Johnson in a report issued on Wednesday, April 17th. Cantor Fitzgerald analyst L. Chen now anticipates that the company will post earnings of $10.57 per share for the year, up from their previous forecast of $10.55. Cantor Fitzgerald has a “Overweight” rating and a $215.00 price objective on the stock. The consensus estimate for Johnson & Johnson’s current full-year earnings is $10.65 per share.

Several other analysts have also recently issued reports on the stock. Royal Bank of Canada decreased their target price on shares of Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating on the stock in a research report on Wednesday. Raymond James upped their target price on shares of Johnson & Johnson from $172.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, January 3rd. Bank of America decreased their target price on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research report on Wednesday. Morgan Stanley decreased their target price on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Finally, StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 6th. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Johnson & Johnson has a consensus rating of “Moderate Buy” and a consensus price target of $175.86.

Johnson & Johnson Stock Up 0.7 %

Shares of JNJ stock opened at $145.74 on Friday. The stock has a market cap of $351.20 billion, a P/E ratio of 9.09, a PEG ratio of 2.39 and a beta of 0.53. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $175.97. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.38. The company’s fifty day simple moving average is $156.32 and its two-hundred day simple moving average is $155.68.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, topping the consensus estimate of $2.64 by $0.07. The business had revenue of $21.38 billion for the quarter, compared to analysts’ expectations of $21.39 billion. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.43%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.68 EPS.

Johnson & Johnson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st will be paid a $1.24 dividend. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date is Monday, May 20th. Johnson & Johnson’s dividend payout ratio is currently 29.68%.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Johnson & Johnson

A number of hedge funds and other institutional investors have recently modified their holdings of JNJ. Moneta Group Investment Advisors LLC boosted 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 in the last quarter. Norges Bank bought a new position in shares of Johnson & Johnson during the fourth quarter valued at approximately $4,609,399,000. Morgan Stanley boosted its stake 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 valued at $7,458,962,000 after purchasing an additional 4,521,062 shares in the last quarter. Barclays PLC boosted its stake in shares of Johnson & Johnson by 61.0% during the second quarter. Barclays PLC now owns 11,287,765 shares of the company’s stock valued at $1,868,351,000 after purchasing an additional 4,278,512 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Johnson & Johnson by 22.2% during the fourth quarter. Legal & General Group Plc now owns 22,104,221 shares of the company’s stock valued at $3,464,617,000 after purchasing an additional 4,021,883 shares in the last quarter. 69.55% of the stock is currently owned by institutional investors.

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.