Q2 2024 EPS Estimates for Johnson & Johnson Lifted by Zacks Research (NYSE:JNJ)

Johnson & Johnson (NYSE:JNJ) – Zacks Research upped their Q2 2024 earnings estimates for shares of Johnson & Johnson in a research report issued to clients and investors on Tuesday, May 7th. Zacks Research analyst K. Shah now expects that the company will earn $2.74 per share for the quarter, up from their prior forecast of $2.73. The consensus estimate for Johnson & Johnson’s current full-year earnings is $10.65 per share. Zacks Research also issued estimates for Johnson & Johnson’s Q4 2024 earnings at $2.43 EPS, FY2024 earnings at $10.57 EPS, Q2 2025 earnings at $2.71 EPS, Q3 2025 earnings at $2.68 EPS, Q4 2025 earnings at $2.73 EPS, FY2025 earnings at $10.73 EPS, Q1 2026 earnings at $2.77 EPS and FY2026 earnings at $11.38 EPS.

Several other research analysts have also commented on JNJ. Bank of America decreased their price target on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. HSBC raised Johnson & Johnson from a “hold” rating to a “buy” rating and upped their target price for the company from $169.00 to $170.00 in a report on Thursday, April 18th. Royal Bank of Canada reduced their price objective on Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating for the company in a research report on Wednesday, April 17th. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 6th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a report on Monday. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $175.86.

Johnson & Johnson Stock Performance

JNJ stock opened at $148.95 on Thursday. The firm has a market cap of $358.47 billion, a P/E ratio of 9.29, a P/E/G ratio of 2.46 and a beta of 0.55. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $175.97. The stock’s 50 day simple moving average is $153.70 and its 200 day simple moving average is $154.97. The company has a current ratio of 1.17, a quick ratio of 0.94 and a debt-to-equity ratio of 0.36.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $0.07. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. The business had revenue of $21.38 billion during the quarter, compared to the consensus estimate of $21.39 billion. During the same period last year, the firm earned $2.68 earnings per share. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year.

Hedge Funds Weigh In On Johnson & Johnson

A number of hedge funds and other institutional investors have recently modified their holdings of JNJ. Christopher J. Hasenberg Inc purchased a new position in shares of Johnson & Johnson in the first quarter worth approximately $31,000. Tower View Wealth Management LLC boosted its stake in Johnson & Johnson by 183.3% in the 3rd quarter. Tower View Wealth Management LLC now owns 255 shares of the company’s stock worth $40,000 after purchasing an additional 165 shares during the period. Keener Financial Planning LLC acquired a new stake in Johnson & Johnson during the 4th quarter valued at $40,000. WFA Asset Management Corp lifted its holdings in shares of 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 in the last quarter. Finally, Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Johnson & Johnson in the fourth quarter worth $44,000. Institutional investors and hedge funds own 69.55% of the company’s stock.

Insider Activity

In related news, EVP Jennifer L. Taubert sold 59,397 shares of the firm’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 transaction, the executive vice president now owns 141,416 shares of the company’s stock, valued at $22,099,078.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Jennifer L. Taubert sold 59,397 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were 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 directly owns 141,416 shares of the company’s stock, valued at $22,099,078.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder & Johnson Johnson sold 3,725 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $25.81, for a total value 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.

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 3.33%. The ex-dividend date is Monday, May 20th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 30.92%.

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.