Johnson & Johnson (NYSE:JNJ) Forecasted to Earn Q2 2024 Earnings of $2.73 Per Share

Johnson & Johnson (NYSE:JNJ) – Leerink Partnrs lowered their Q2 2024 earnings per share (EPS) estimates for Johnson & Johnson in a research note issued on Wednesday, April 17th. Leerink Partnrs analyst D. Risinger now anticipates that the company will earn $2.73 per share for the quarter, down from their prior forecast of $2.75. The consensus estimate for Johnson & Johnson’s current full-year earnings is $10.65 per share. Leerink Partnrs also issued estimates for Johnson & Johnson’s FY2027 earnings at $12.21 EPS.

Several other analysts have also commented on JNJ. Raymond James increased their price objective on Johnson & Johnson from $172.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, January 3rd. Royal Bank of Canada decreased their price objective on Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating for the company in a report on Wednesday. Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a report on Monday. Bank of America cut their target price on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 6th. Eight investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned 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 $176.36.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $144.77 on Thursday. Johnson & Johnson has a 12 month low of $143.39 and a 12 month high of $175.97. The stock has a fifty day moving average price of $156.54 and a 200-day moving average price of $155.74. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.38. The firm has a market cap of $348.86 billion, a PE ratio of 9.03, a P/E/G ratio of 2.40 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, beating the consensus estimate of $2.64 by $0.07. Johnson & Johnson had a return on equity of 36.43% and a net margin of 45.26%. The firm had revenue of $21.38 billion during the quarter, compared to analyst estimates of $21.39 billion. During the same quarter in the prior year, the business posted $2.68 EPS. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year.

Institutional Investors Weigh In On Johnson & Johnson

Hedge funds have recently modified their holdings of the company. DORCHESTER WEALTH MANAGEMENT Co boosted its stake in shares of Johnson & Johnson by 0.6% during the 3rd quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 75,495 shares of the company’s stock worth $11,758,000 after acquiring an additional 414 shares in the last quarter. OneAscent Financial Services LLC boosted its stake in shares of Johnson & Johnson by 82.8% during the 4th quarter. OneAscent Financial Services LLC now owns 9,838 shares of the company’s stock worth $1,542,000 after acquiring an additional 4,457 shares in the last quarter. TrueMark Investments LLC purchased a new stake in shares of Johnson & Johnson during the 4th quarter worth about $1,458,000. RAM Investment Partners LLC lifted its stake in Johnson & Johnson by 4.5% in the 4th quarter. RAM Investment Partners LLC now owns 1,688 shares of the company’s stock valued at $265,000 after buying an additional 73 shares in the last quarter. Finally, RFG Advisory LLC lifted its stake in Johnson & Johnson by 12.6% in the 3rd quarter. RFG Advisory LLC now owns 18,758 shares of the company’s stock valued at $2,921,000 after buying an additional 2,102 shares in the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Johnson & Johnson news, major shareholder & Johnson Johnson sold 3,725 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $25.81, for a total transaction of $96,142.25. Following the sale, the insider now directly owns 4,099,575 shares of the company’s stock, valued at approximately $105,810,030.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 59,397 shares of the 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 sale, 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. Also, major shareholder & Johnson Johnson sold 3,725 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $25.81, for a total transaction of $96,142.25. Following the sale, the insider now directly owns 4,099,575 shares in the company, valued at $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 business also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders 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 yield of 3.43%. The ex-dividend date is Monday, May 20th. Johnson & Johnson’s dividend payout ratio (DPR) is currently 29.68%.

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.