Johnson & Johnson (NYSE:JNJ) Issues Quarterly Earnings Results

Johnson & Johnson (NYSE:JNJ) posted its earnings results on Tuesday. The company reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.21, Briefing.com reports. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The company had revenue of $22.47 billion for the quarter, compared to analysts’ expectations of $22.17 billion. During the same period last year, the business posted $2.66 earnings per share. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. Johnson & Johnson updated its FY 2024 guidance to 9.880-9.980 EPS and its FY24 guidance to $9.88-9.98 EPS.

Johnson & Johnson Stock Up 0.2 %

NYSE JNJ traded up $0.28 during trading on Thursday, hitting $164.56. The stock had a trading volume of 3,585,287 shares, compared to its average volume of 7,029,188. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $168.85. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 1.07. The company’s 50-day moving average price is $162.81 and its two-hundred day moving average price is $154.59. The company has a market capitalization of $396.04 billion, a PE ratio of 10.26, a P/E/G ratio of 2.65 and a beta of 0.52.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be given a dividend of $1.24 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $4.96 annualized dividend and a dividend yield of 3.01%. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Daiwa Capital Markets cut shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $160.00 to $150.00 in a research note on Tuesday, July 23rd. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 14th. Royal Bank of Canada boosted their price target on shares of Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a research report on Wednesday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research note on Wednesday. Finally, Citigroup raised their target price on shares of Johnson & Johnson from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $175.93.

Insider Activity at Johnson & Johnson

In related news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $165.06, for a total value of $930,113.10. Following the sale, the vice president now owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is owned by insiders.

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.