Johnson & Johnson (NYSE:JNJ) Forecasted to Post Q3 2023 Earnings of $2.56 Per Share

Johnson & Johnson (NYSE:JNJ) – Equities research analysts at Leerink Partnrs issued their Q3 2023 EPS estimates for shares of Johnson & Johnson in a research note issued on Tuesday, September 12th. Leerink Partnrs analyst D. Risinger forecasts that the company will post earnings per share of $2.56 for the quarter. The consensus estimate for Johnson & Johnson’s current full-year earnings is $10.03 per share. Leerink Partnrs also issued estimates for Johnson & Johnson’s Q4 2023 earnings at $2.48 EPS, FY2023 earnings at $10.00 EPS, Q1 2024 earnings at $2.70 EPS, Q2 2024 earnings at $2.79 EPS, Q3 2024 earnings at $2.85 EPS, Q4 2024 earnings at $2.68 EPS, FY2024 earnings at $11.02 EPS, FY2025 earnings at $11.28 EPS, FY2026 earnings at $11.39 EPS and FY2027 earnings at $11.84 EPS.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Thursday, July 20th. The company reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.62 by $0.18. The firm had revenue of $25.53 billion during the quarter, compared to analyst estimates of $24.63 billion. Johnson & Johnson had a net margin of 13.35% and a return on equity of 36.72%. Johnson & Johnson’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.59 EPS.

Several other equities analysts have also weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research report on Thursday, August 31st. Credit Suisse Group raised their price objective on shares of Johnson & Johnson from $170.00 to $175.00 and gave the company a “neutral” rating in a research report on Friday, July 21st. Raymond James dropped their price target on shares of Johnson & Johnson from $184.00 to $179.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 5th. Barclays lowered their price objective on shares of Johnson & Johnson from $175.00 to $158.00 and set an “equal weight” rating on the stock in a research note on Friday, September 8th. Finally, Atlantic Securities raised their price objective on shares of Johnson & Johnson from $167.00 to $170.00 and gave the stock a “neutral” rating in a research note on Friday, August 4th. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $170.65.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $163.74 on Thursday. Johnson & Johnson has a one year low of $150.11 and a one year high of $181.04. The company has a 50-day moving average of $166.12 and a two-hundred day moving average of $161.66. The stock has a market cap of $425.56 billion, a price-to-earnings ratio of 33.15, a PEG ratio of 3.47 and a beta of 0.54. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.12 and a quick ratio of 0.88.

Institutional Investors Weigh In On Johnson & Johnson

A number of hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. increased its position in shares of Johnson & Johnson by 1.4% in the first quarter. BlackRock Inc. now owns 201,491,567 shares of the company’s stock worth $31,231,193,000 after purchasing an additional 2,688,798 shares during the period. State Street Corp lifted its stake in shares of Johnson & Johnson by 1.1% in the second quarter. State Street Corp now owns 141,833,756 shares of the company’s stock worth $23,476,323,000 after acquiring an additional 1,568,633 shares during the period. Moneta Group Investment Advisors LLC lifted its stake in shares of Johnson & Johnson by 90,144.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 54,386,720 shares of the company’s stock worth $9,607,414,000 after acquiring an additional 54,326,454 shares during the period. Geode Capital Management LLC lifted its stake in Johnson & Johnson by 2.0% in the second quarter. Geode Capital Management LLC now owns 49,697,798 shares of the company’s stock valued at $8,203,608,000 after buying an additional 990,298 shares during the period. Finally, Morgan Stanley lifted its stake in Johnson & Johnson by 12.0% in the fourth quarter. Morgan Stanley now owns 42,224,521 shares of the company’s stock valued at $7,458,962,000 after buying an additional 4,521,062 shares during the period. Institutional investors and hedge funds own 68.40% of the company’s stock.

Insider Transactions at Johnson & Johnson

In other news, VP Peter Fasolo sold 20,000 shares of the stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $170.32, for a total value of $3,406,400.00. Following the completion of the sale, the vice president now owns 102,696 shares of the company’s stock, valued at approximately $17,491,182.72. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Johnson & Johnson news, VP Peter Fasolo sold 20,000 shares of the firm’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $170.32, for a total transaction of $3,406,400.00. Following the completion of the sale, the vice president now owns 102,696 shares of the company’s stock, valued at approximately $17,491,182.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William Hait sold 14,698 shares of the firm’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $172.00, for a total value of $2,528,056.00. Following the sale, the insider now directly owns 87,747 shares of the company’s stock, valued at approximately $15,092,484. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 7th. Stockholders of record on Monday, August 28th were paid a dividend of $1.19 per share. The ex-dividend date was Friday, August 25th. This represents a $4.76 annualized dividend and a dividend yield of 2.91%. Johnson & Johnson’s dividend payout ratio is currently 96.36%.

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 Consumer Health segment provides skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR. CI:LABO, NEUTROGENA, and OGX brands; baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; TYLENOL acetaminophen products; SUDAFED cold, flu, and allergy products; BENADRYL and ZYRTEC allergy products; MOTRIN IB ibuprofen products; NICORETTE smoking cessation products; and PEPCID acid reflux products.