Johnson & Johnson to Post Q2 2024 Earnings of $2.73 Per Share, Leerink Partnrs Forecasts (NYSE:JNJ)

Johnson & Johnson (NYSE:JNJ) – Analysts at Leerink Partnrs reduced their Q2 2024 earnings per share (EPS) estimates for Johnson & Johnson in a research report issued to clients and investors on Wednesday, April 17th. Leerink Partnrs analyst D. Risinger now forecasts that the company will post earnings of $2.73 per share for the quarter, down from their previous forecast 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.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $21.39 billion. During the same quarter in the previous year, the firm earned $2.68 earnings per share. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year.

A number of other brokerages have also weighed in on JNJ. HSBC upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and boosted their price target for the stock from $169.00 to $170.00 in a research note on Thursday. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 6th. Royal Bank of Canada dropped their price target on Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating on the stock in a research note on Wednesday. Bank of America decreased their target price on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a report on Monday, April 15th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $175.86.

Johnson & Johnson Price Performance

Shares of JNJ stock opened at $147.93 on Thursday. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $175.97. The firm has a market capitalization of $356.48 billion, a price-to-earnings ratio of 9.22, a PEG ratio of 2.39 and a beta of 0.53. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.91 and a current ratio of 1.16. The stock’s 50-day simple moving average is $156.15 and its 200-day simple moving average is $155.63.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. DORCHESTER WEALTH MANAGEMENT Co increased its position in shares of Johnson & Johnson by 0.6% during the third quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 75,495 shares of the company’s stock worth $11,758,000 after purchasing an additional 414 shares in the last quarter. OneAscent Financial Services LLC increased its position in shares of Johnson & Johnson by 82.8% during the fourth quarter. OneAscent Financial Services LLC now owns 9,838 shares of the company’s stock worth $1,542,000 after purchasing an additional 4,457 shares in the last quarter. TrueMark Investments LLC purchased a new stake in shares of Johnson & Johnson during the fourth quarter worth approximately $1,458,000. RAM Investment Partners LLC increased its position in shares of Johnson & Johnson by 4.5% during the fourth quarter. RAM Investment Partners LLC now owns 1,688 shares of the company’s stock worth $265,000 after purchasing an additional 73 shares in the last quarter. Finally, RFG Advisory LLC grew its holdings in Johnson & Johnson by 12.6% in the 3rd quarter. RFG Advisory LLC now owns 18,758 shares of the company’s stock valued at $2,921,000 after buying an additional 2,102 shares in the last quarter. 69.55% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 59,397 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 141,416 shares of the company’s stock, valued at approximately $22,099,078.32. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, EVP Jennifer L. Taubert sold 59,397 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 141,416 shares of the company’s stock, valued at approximately $22,099,078.32. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder & Johnson Johnson sold 3,725 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at $105,810,030.75. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by corporate insiders.

Johnson & Johnson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st will be issued a $1.24 dividend. The ex-dividend date of this dividend is Monday, May 20th. 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 3.35%. 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.