Johnson & Johnson to Post FY2024 Earnings of $10.57 Per Share, Cantor Fitzgerald Forecasts (NYSE:JNJ)

Johnson & Johnson (NYSE:JNJ) – Equities research analysts at Cantor Fitzgerald increased their FY2024 earnings per share estimates for shares of Johnson & Johnson in a research report issued to clients and investors on Wednesday, April 17th. Cantor Fitzgerald analyst L. Chen now forecasts that the company will earn $10.57 per share for the year, up from their prior estimate 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.

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

Several other equities research analysts also recently issued reports on the stock. HSBC upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and raised their price objective for the stock from $169.00 to $170.00 in a research report on Thursday. Raymond James lifted their price target 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 dropped their price target on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday. Morgan Stanley dropped their price target on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company 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 research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.86.

Johnson & Johnson Trading Up 1.5 %

Shares of JNJ stock opened at $147.93 on Friday. The firm has a 50 day moving average price of $156.15 and a two-hundred day moving average price of $155.63. 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 has a market capitalization of $356.48 billion, a PE ratio of 9.22, a price-to-earnings-growth ratio of 2.39 and a beta of 0.53. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $175.97.

Hedge Funds Weigh In On Johnson & Johnson

A number of hedge funds have recently modified their holdings of the business. Maryland State Retirement & Pension System lifted its holdings in shares of Johnson & Johnson by 0.6% during the first quarter. Maryland State Retirement & Pension System now owns 188,638 shares of the company’s stock worth $27,204,000 after purchasing an additional 1,204 shares during the period. Cohen Investment Advisors LLC lifted its holdings in Johnson & Johnson by 10.0% in the first quarter. Cohen Investment Advisors LLC now owns 19,483 shares of the company’s stock valued at $3,082,000 after buying an additional 1,773 shares during the period. Kesler Norman & Wride LLC lifted its holdings in Johnson & Johnson by 6.3% in the first quarter. Kesler Norman & Wride LLC now owns 48,533 shares of the company’s stock valued at $7,678,000 after buying an additional 2,864 shares during the period. FORVIS Wealth Advisors LLC lifted its holdings in Johnson & Johnson by 28.7% in the first quarter. FORVIS Wealth Advisors LLC now owns 55,050 shares of the company’s stock valued at $8,708,000 after buying an additional 12,286 shares during the period. Finally, GenTrust LLC acquired a new position in Johnson & Johnson in the first quarter valued at $230,000. Institutional investors and hedge funds own 69.55% of the company’s stock.

Insiders Place Their Bets

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 owns 4,099,575 shares of the company’s stock, valued at $105,810,030.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, major shareholder & Johnson Johnson sold 3,725 shares of Johnson & Johnson 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 transaction, the insider now owns 4,099,575 shares in the company, valued at $105,810,030.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Jennifer L. Taubert sold 59,397 shares of Johnson & Johnson 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 transaction, the executive vice president now owns 141,416 shares in the company, valued at approximately $22,099,078.32. The disclosure for this sale can be found here. Insiders own 0.16% of the company’s stock.

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 dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend is Monday, May 20th. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s payout ratio is presently 30.92%.

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.