Johnson & Johnson (NYSE:JNJ) Releases Earnings Results, Beats Estimates By $0.21 EPS

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 business had revenue of $22.47 billion for the quarter, compared to the consensus estimate of $22.17 billion. During the same period last year, the company earned $2.66 EPS. The firm’s revenue was up 5.2% compared to the same quarter last year. 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 Stock Up 0.1 %

Shares of NYSE:JNJ opened at $164.28 on Thursday. The stock has a market cap of $395.37 billion, a P/E ratio of 10.24, a PEG ratio of 2.65 and a beta of 0.52. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. The business has a fifty day moving average of $162.81 and a two-hundred day moving average of $154.59. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $168.85.

Johnson & Johnson Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $4.96 annualized dividend and a yield of 3.02%. Johnson & Johnson’s dividend payout ratio is presently 30.92%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on JNJ shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a research note on Wednesday. Sanford C. Bernstein upped their price objective on shares of Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. TD Cowen decreased their price objective on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Daiwa Capital Markets downgraded shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and cut their price target for the company from $160.00 to $150.00 in a report on Tuesday, July 23rd. Finally, Royal Bank of Canada raised their target price on shares of Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a research note on Wednesday. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $175.93.

Insider Buying and Selling at Johnson & Johnson

In other news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction on Friday, August 30th. The stock was 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 directly owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.16% of the company’s stock.

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.