Zacks Research Research Analysts Decrease Earnings Estimates for Johnson & Johnson (NYSE:JNJ)

Johnson & Johnson (NYSE:JNJ) – Stock analysts at Zacks Research dropped their Q3 2024 earnings per share (EPS) estimates for Johnson & Johnson in a research note issued on Tuesday, May 7th. Zacks Research analyst K. Shah now anticipates that the company will post earnings per share of $2.70 for the quarter, down from their prior forecast of $2.74. The consensus estimate for Johnson & Johnson’s current full-year earnings is $10.65 per share.

JNJ has been the topic of several other research reports. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 6th. Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research note on Monday, May 6th. Bank of America dropped their price objective on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. HSBC raised Johnson & Johnson from a “hold” rating to a “buy” rating and raised their target price for the company from $169.00 to $170.00 in a report on Thursday, April 18th. Finally, Royal Bank of Canada cut their price target on shares of Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating for the company in a report on Wednesday, April 17th. Seven research 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.86.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $149.91 on Friday. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $175.97. The stock has a market capitalization of $360.79 billion, a P/E ratio of 9.35, a P/E/G ratio of 2.45 and a beta of 0.55. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.94 and a current ratio of 1.17. The company’s fifty day moving average is $153.22 and its two-hundred day moving average is $154.89.

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

Johnson & Johnson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st will be given a dividend of $1.24 per share. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 annualized dividend and a dividend yield of 3.31%. The ex-dividend date is Monday, May 20th. Johnson & Johnson’s payout ratio is currently 29.68%.

Insider Activity at Johnson & Johnson

In other news, major shareholder & Johnson Johnson sold 3,725 shares of the business’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 completion of the transaction, the insider now directly owns 4,099,575 shares of the company’s stock, valued at $105,810,030.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.16% of the stock is owned by corporate insiders.

Institutional Trading of Johnson & Johnson

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in JNJ. Christopher J. Hasenberg Inc purchased a new stake in shares of Johnson & Johnson during the first quarter worth about $31,000. Tower View Wealth Management LLC grew 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 acquiring an additional 165 shares during the period. Keener Financial Planning LLC acquired a new position in Johnson & Johnson in the 4th quarter valued at $40,000. WFA Asset Management Corp boosted its holdings in shares of Johnson & Johnson by 61.4% during the fourth quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock worth $40,000 after purchasing an additional 97 shares during the last quarter. Finally, Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Johnson & Johnson in the fourth quarter valued at $44,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

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.