Johnson & Johnson (NYSE:JNJ) Forecasted to Earn Q2 2024 Earnings of $2.73 Per Share

Johnson & Johnson (NYSE:JNJ) – Investment analysts at Leerink Partnrs reduced their Q2 2024 earnings per share estimates for shares of Johnson & Johnson in a research note issued on Wednesday, April 17th. Leerink Partnrs analyst D. Risinger now anticipates that the company will post earnings per share of $2.73 for the quarter, down from their previous estimate of $2.75. The consensus estimate for Johnson & Johnson’s current full-year earnings is $10.65 per share. Leerink Partnrs also issued estimates for Johnson & Johnson’s FY2027 earnings at $12.21 EPS.

A number of other research firms have also recently commented on JNJ. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research note on Monday. Bank of America reduced their price objective on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday. Morgan Stanley reduced their price objective on Johnson & Johnson from $170.00 to $169.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 24th. Raymond James raised their price objective on Johnson & Johnson from $172.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, January 3rd. Finally, StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 6th. Eight equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $176.36.

Johnson & Johnson Trading Up 0.2 %

JNJ opened at $144.77 on Thursday. The stock has a market cap of $348.86 billion, a PE ratio of 9.03, a PEG ratio of 2.40 and a beta of 0.53. 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 business has a 50 day moving average of $156.54 and a 200-day moving average of $155.74. Johnson & Johnson has a 52 week low of $143.39 and a 52 week high of $175.97.

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

Hedge Funds Weigh In On Johnson & Johnson

Several institutional investors and hedge funds have recently bought and sold shares of JNJ. Moneta Group Investment Advisors LLC lifted its position in 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 purchased a new position in Johnson & Johnson during the fourth quarter valued at $4,609,399,000. Morgan Stanley lifted its position in 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 lifted its position in 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 lifted its position in 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 hedge funds and other institutional investors.

Insider Transactions at Johnson & Johnson

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

Johnson & Johnson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders 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 dividend yield of 3.43%. The ex-dividend date is Monday, May 20th. Johnson & Johnson’s dividend payout ratio (DPR) is 29.68%.

About Johnson & Johnson

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.