Q3 2024 EPS Estimates for Johnson & Johnson (NYSE:JNJ) Lifted by Analyst

Johnson & Johnson (NYSE:JNJ) – Analysts at Leerink Partnrs boosted their Q3 2024 earnings per share (EPS) estimates for Johnson & Johnson in a report issued on Wednesday, April 17th. Leerink Partnrs analyst D. Risinger now anticipates that the company will post earnings of $2.66 per share for the quarter, up from their previous forecast of $2.65. 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 Q4 2024 earnings at $2.59 EPS, FY2024 earnings at $10.69 EPS, FY2025 earnings at $11.05 EPS and FY2026 earnings at $11.47 EPS.

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

Other equities analysts also recently issued reports about the company. Morgan Stanley decreased their target price on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a research note on Wednesday. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research note on Monday. HSBC raised Johnson & Johnson from a “hold” rating to a “buy” rating and increased their target price for the stock from $169.00 to $170.00 in a research report on Thursday. Raymond James boosted their price target on shares of Johnson & Johnson from $172.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, January 3rd. Finally, Bank of America dropped their price objective on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $175.86.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ opened at $145.74 on Friday. The company has a market cap of $351.20 billion, a PE ratio of 9.09, a P/E/G ratio of 2.39 and a beta of 0.53. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $175.97. The firm has a 50-day simple moving average of $156.32 and a 200 day simple moving average of $155.68. 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 declared 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 is a positive change 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 of this dividend is Monday, May 20th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 29.68%.

Insider Activity

In other 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 completion of the sale, the executive vice president now owns 141,416 shares in the company, valued at $22,099,078.32. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 59,397 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $156.27, for a total value of $9,281,969.19. Following the completion of the sale, 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 Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder & Johnson Johnson sold 3,725 shares of Johnson & Johnson stock in a transaction that occurred on Friday, February 16th. The stock was 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 in the company, valued at approximately $105,810,030.75. The disclosure for this sale can be found here. 0.16% of the stock is owned by insiders.

Institutional Investors Weigh In On Johnson & Johnson

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

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.