Q2 2024 Earnings Estimate for Johnson & Johnson (NYSE:JNJ) Issued By Leerink Partnrs

Johnson & Johnson (NYSE:JNJ) – Leerink Partnrs decreased their Q2 2024 EPS estimates for shares of Johnson & Johnson in a report issued on Wednesday, April 17th. Leerink Partnrs analyst D. Risinger now anticipates that the company will earn $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 quarterly earnings results on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, beating the consensus estimate of $2.64 by $0.07. The company had revenue of $21.38 billion for the quarter, compared to analyst estimates 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 period in the prior year, the company earned $2.68 earnings per share.

A number of other equities research analysts have also recently commented on the stock. Raymond James raised their price objective on shares of Johnson & Johnson from $172.00 to $175.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 3rd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a report on Monday. Royal Bank of Canada lowered their target price on shares of 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 dropped their target price on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Morgan Stanley reduced their price target on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a report on Wednesday. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Johnson & Johnson currently has an average rating of “Moderate Buy” and an average price target of $175.86.

Johnson & Johnson Stock Up 0.7 %

Johnson & Johnson stock opened at $145.74 on Thursday. The business’s 50-day moving average price is $156.32 and its 200 day moving average price is $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. The firm has a market cap of $351.20 billion, a price-to-earnings ratio of 9.09, a price-to-earnings-growth ratio of 2.40 and a beta of 0.53. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $175.97.

Institutional Trading of Johnson & Johnson

Hedge funds and other institutional investors have recently modified their holdings of the stock. Hibernia Wealth Partners LLC acquired a new position in Johnson & Johnson in the 3rd quarter valued at about $27,000. FNY Investment Advisers LLC acquired a new position in Johnson & Johnson in the third quarter valued at approximately $37,000. Tower View Wealth Management LLC grew its position in Johnson & Johnson by 183.3% in the third quarter. Tower View Wealth Management LLC now owns 255 shares of the company’s stock worth $40,000 after acquiring an additional 165 shares during the period. Keener Financial Planning LLC acquired a new stake in Johnson & Johnson during the fourth quarter worth $40,000. Finally, WFA Asset Management Corp raised its position in Johnson & Johnson by 61.4% in the fourth quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock valued at $40,000 after purchasing an additional 97 shares during the period. 69.55% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Johnson & Johnson news, major shareholder & Johnson Johnson sold 3,725 shares of the firm’s stock in a transaction 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 owns 4,099,575 shares in the company, valued at approximately $105,810,030.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $9,281,969.19. Following the completion of the sale, the executive vice president now directly owns 141,416 shares in the company, valued at $22,099,078.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $96,142.25. Following the transaction, the insider now 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 company insiders.

Johnson & Johnson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st will be paid a $1.24 dividend. The ex-dividend date of this dividend is Monday, May 20th. 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 dividend yield of 3.40%. Johnson & Johnson’s payout ratio is currently 29.68%.

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.