Johnson & Johnson (NYSE:JNJ) Posts Earnings Results, Beats Expectations By $0.07 EPS

Johnson & Johnson (NYSE:JNJ) issued its quarterly earnings data on Tuesday. The company reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $0.07, RTT News reports. The business had revenue of $21.38 billion during the quarter, compared to the consensus estimate of $21.39 billion. Johnson & Johnson had a return on equity of 37.27% and a net margin of 37.79%. The business’s revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.68 earnings per share. Johnson & Johnson updated its FY 2024 guidance to 10.570-10.720 EPS and its FY24 guidance to $10.57-10.72 EPS.

Johnson & Johnson Trading Down 0.0 %

NYSE:JNJ opened at $147.49 on Tuesday. The stock’s 50-day moving average is $157.07 and its two-hundred day moving average is $155.90. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.16 and a quick ratio of 0.91. The stock has a market cap of $355.42 billion, a PE ratio of 10.68, a price-to-earnings-growth ratio of 2.48 and a beta of 0.53. Johnson & Johnson has a fifty-two week low of $144.95 and a fifty-two week high of $175.97.

Johnson & Johnson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st will be paid a $1.24 dividend. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 annualized dividend and a yield of 3.36%. The ex-dividend date is Monday, May 20th. Johnson & Johnson’s dividend payout ratio is currently 34.47%.

Insider Transactions at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 59,397 shares of the business’s stock in a transaction 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 transaction, the executive vice president now directly owns 141,416 shares in the company, valued at approximately $22,099,078.32. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other 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 sale, the executive vice president now directly owns 141,416 shares of the company’s stock, valued at approximately $22,099,078.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder & Johnson Johnson sold 3,725 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 4,099,575 shares of the company’s stock, 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.

Institutional Investors Weigh In On Johnson & Johnson

A number of large investors have recently bought and sold shares of the business. Grayhawk Investment Strategies Inc. increased its holdings in shares of Johnson & Johnson by 528.6% during the 4th quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock valued at $48,000 after acquiring an additional 259 shares during the last quarter. Aspect Partners LLC acquired a new stake in shares of Johnson & Johnson in the fourth quarter worth $91,000. Groupama Asset Managment acquired a new position in Johnson & Johnson during the 4th quarter worth $98,000. Sanctuary Wealth Management L.L.C. bought a new stake in Johnson & Johnson during the 4th quarter valued at approximately $116,000. Finally, Mango Five Family Inc. bought a new position in Johnson & Johnson during the fourth quarter worth $110,000. 69.55% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

JNJ has been the topic of a number of recent analyst reports. Morgan Stanley dropped their price target on shares of Johnson & Johnson from $170.00 to $169.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 24th. Raymond James increased their price target on Johnson & Johnson from $172.00 to $175.00 and gave the company an “outperform” rating in a research note on Wednesday, January 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $181.00 target price on shares of Johnson & Johnson in a research note on Wednesday, February 28th. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research report on Monday. Finally, StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 6th. Seven investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $177.31.

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.