Johnson & Johnson (NYSE:JNJ) Announces Quarterly Earnings Results

Johnson & Johnson (NYSE:JNJ) posted its earnings results on Tuesday. The company reported $2.42 EPS for the quarter, topping the consensus estimate of $2.21 by $0.21, Briefing.com reports. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The firm had revenue of $22.47 billion during the quarter, compared to analysts’ expectations of $22.17 billion. During the same quarter in the prior year, the firm earned $2.66 EPS. Johnson & Johnson’s quarterly revenue was up 5.2% on a year-over-year basis. Johnson & Johnson updated its FY 2024 guidance to 9.880-9.980 EPS and its FY24 guidance to $9.88-9.98 EPS.

Johnson & Johnson Trading Up 0.4 %

Shares of NYSE:JNJ traded up $0.61 during mid-day trading on Thursday, hitting $164.89. The stock had a trading volume of 1,003,243 shares, compared to its average volume of 7,016,341. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 1.07. The company has a market cap of $396.84 billion, a PE ratio of 10.24, a P/E/G ratio of 2.65 and a beta of 0.52. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $168.85. The company’s 50 day moving average is $162.81 and its 200-day moving average is $154.59.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be paid a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio is presently 30.92%.

Insider Activity at Johnson & Johnson

In related news, VP Robert J. Decker sold 5,635 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $165.06, for a total value of $930,113.10. Following the completion of the sale, the vice president now owns 18,973 shares in the company, valued at approximately $3,131,683.38. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is owned by insiders.

Analyst Ratings Changes

JNJ has been the subject of several recent analyst reports. Morgan Stanley upped their target price on shares of Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Citigroup upped their price target on shares of Johnson & Johnson from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday. TD Cowen reduced their price target on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. TD Securities reduced their price target on shares of Johnson & Johnson from $195.00 to $185.00 in a research note on Thursday, July 18th. Finally, The Goldman Sachs Group reduced their price target on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a research note on Friday, July 19th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Johnson & Johnson currently has an average rating of “Moderate Buy” and an average target price of $175.93.

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.