Equities Analysts Issue Forecasts for Johnson & Johnson’s Q2 2024 Earnings (NYSE:JNJ)

Johnson & Johnson (NYSE:JNJ) – Equities researchers at Leerink Partnrs lowered their Q2 2024 earnings per share (EPS) estimates for shares of Johnson & Johnson in a research report issued on Wednesday, April 17th. Leerink Partnrs analyst D. Risinger now expects that the company will post earnings of $2.73 per share for the quarter, down from their prior 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 announced its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $0.07. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.43%. The firm had revenue of $21.38 billion during the quarter, compared to analyst estimates of $21.39 billion. During the same period in the previous year, the business posted $2.68 EPS. The business’s quarterly revenue was up 2.3% on a year-over-year basis.

A number of other equities research analysts have also weighed in on the company. Royal Bank of Canada lowered their target price on Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating for the company in a research note on Wednesday. Morgan Stanley dropped their price objective on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a research note on Wednesday. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 6th. 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. Finally, Raymond James boosted their price objective 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. Seven investment 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 stock. According to MarketBeat, Johnson & Johnson has an average rating of “Moderate Buy” and an average price target of $175.86.

Johnson & Johnson Stock Performance

NYSE JNJ opened at $145.74 on Thursday. The company has a 50-day simple moving average of $156.32 and a two-hundred day simple moving average of $155.68. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $175.97. The firm has a market cap of $351.20 billion, a price-to-earnings ratio of 9.09, 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.

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 issued a dividend of $1.24 per share. 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. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.40%. Johnson & Johnson’s dividend payout ratio is 29.68%.

Insider Activity

In related news, 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 value of $9,281,969.19. Following the sale, the executive vice president now directly owns 141,416 shares of the company’s stock, valued at $22,099,078.32. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, major shareholder & Johnson Johnson sold 3,725 shares of Johnson & Johnson stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $25.81, for a total transaction of $96,142.25. Following the completion of the transaction, 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 filing with the SEC, which is available at 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 sale, 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. 0.16% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Johnson & Johnson

Several large investors have recently made changes to their positions in JNJ. DORCHESTER WEALTH MANAGEMENT Co grew its position in Johnson & Johnson by 8.6% during the 1st quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 67,618 shares of the company’s stock valued at $14,975,000 after purchasing an additional 5,327 shares during the last quarter. Cantor Fitzgerald Investment Advisor L.P grew its holdings in shares of Johnson & Johnson by 88.9% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 175,194 shares of the company’s stock valued at $31,049,000 after buying an additional 82,429 shares during the last quarter. AMI Investment Management Inc. increased its position in shares of Johnson & Johnson by 8.8% during the first quarter. AMI Investment Management Inc. now owns 18,305 shares of the company’s stock valued at $3,244,000 after acquiring an additional 1,475 shares in the last quarter. Equitable Holdings Inc. lifted its position in Johnson & Johnson by 4.9% in the 1st quarter. Equitable Holdings Inc. now owns 45,673 shares of the company’s stock valued at $8,095,000 after acquiring an additional 2,119 shares in the last quarter. Finally, USS Investment Management Ltd boosted its stake in Johnson & Johnson by 2.4% during the 1st quarter. USS Investment Management Ltd now owns 860,371 shares of the company’s stock valued at $152,488,000 after purchasing an additional 20,528 shares during the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

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.