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

Johnson & Johnson (NYSE:JNJ) posted its quarterly earnings data on Tuesday. The company reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.64 by $0.07, RTT News reports. The company had revenue of $21.38 billion during the quarter, compared to analysts’ expectations of $21.39 billion. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.43%. Johnson & Johnson’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the company 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 Stock Performance

Shares of NYSE JNJ opened at $145.74 on Friday. The stock has a market cap of $351.20 billion, a price-to-earnings ratio of 9.09, a P/E/G ratio of 2.39 and a beta of 0.53. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.38. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $175.97. The stock’s 50-day moving average is $156.32 and its 200 day moving average is $155.68.

Johnson & Johnson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st will be given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date of this dividend is Monday, May 20th. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s dividend payout ratio (DPR) is 29.68%.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 59,397 shares of Johnson & Johnson 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 transaction, the executive vice president now directly owns 141,416 shares of the company’s stock, valued at approximately $22,099,078.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder & Johnson Johnson sold 3,725 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $25.81, for a total transaction of $96,142.25. Following 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 Securities & Exchange Commission, which is available through this link. Also, EVP Jennifer L. Taubert sold 59,397 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $156.27, for a total value of $9,281,969.19. Following the transaction, the executive vice president now directly owns 141,416 shares in the company, valued at $22,099,078.32. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Johnson & Johnson

Several hedge funds have recently made changes to their positions in the business. Delap Wealth Advisory LLC bought a new stake in shares of Johnson & Johnson during the third quarter valued at approximately $231,000. Vantage Financial Partners LLC bought a new stake in shares of Johnson & Johnson during the fourth quarter valued at approximately $218,000. Private Capital Management LLC bought a new stake in shares of Johnson & Johnson during the first quarter valued at approximately $213,000. Arkos Global Advisors bought a new stake in shares of Johnson & Johnson during the second quarter valued at approximately $206,000. Finally, MayTech Global Investments LLC bought a new stake in shares of Johnson & Johnson during the fourth quarter valued at approximately $170,000. 69.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

JNJ has been the subject of a number of research reports. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a report on Monday. Raymond James upped their target price on Johnson & Johnson from $172.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, January 3rd. Bank of America decreased their price objective on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a report on Wednesday. Morgan Stanley decreased their price objective on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a report on Wednesday. Finally, HSBC raised Johnson & Johnson from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $169.00 to $170.00 in a report on Thursday. 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $175.86.

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.