Johnson & Johnson (NYSE:JNJ) Posts Earnings Results

Johnson & Johnson (NYSE:JNJ) posted its quarterly earnings data on Tuesday. The company reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.64 by $0.07, RTT News reports. Johnson & Johnson had a return on equity of 37.27% and a net margin of 37.79%. The firm had revenue of $21.38 billion for the quarter, compared to analysts’ expectations of $21.39 billion. During the same period in the previous year, the firm earned $2.68 EPS. The business’s quarterly revenue was up 2.3% on a year-over-year basis. 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 Down 0.0 %

Shares of JNJ opened at $147.49 on Tuesday. The stock has a market capitalization of $355.42 billion, a price-to-earnings ratio of 10.68, a price-to-earnings-growth ratio of 2.48 and a beta of 0.53. Johnson & Johnson has a 1 year low of $144.95 and a 1 year high of $175.97. The business’s 50 day simple moving average is $157.07 and its 200-day simple 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.

Johnson & Johnson Increases Dividend

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

Insider Transactions at Johnson & Johnson

In other news, major shareholder & Johnson Johnson sold 3,725 shares of the company’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 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 can be accessed through this hyperlink. In other news, EVP Jennifer L. Taubert sold 59,397 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 141,416 shares of the company’s stock, valued at approximately $22,099,078.32. The transaction was disclosed in a filing with the SEC, which is accessible 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 transaction, the insider now directly owns 4,099,575 shares in the company, valued at approximately $105,810,030.75. The disclosure for this sale can be found here. Insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Johnson & Johnson

Several large investors have recently modified their holdings of the stock. FIDELIS iM LLC increased its position in shares of Johnson & Johnson by 3.1% during the 4th quarter. FIDELIS iM LLC now owns 2,117 shares of the company’s stock valued at $374,000 after purchasing an additional 64 shares during the last quarter. Websterrogers Financial Advisors LLC grew its position in Johnson & Johnson by 2.4% in the 4th quarter. Websterrogers Financial Advisors LLC now owns 2,875 shares of the company’s stock valued at $451,000 after acquiring an additional 68 shares during the last quarter. Tatro Capital LLC grew its position in Johnson & Johnson by 2.3% in the 1st quarter. Tatro Capital LLC now owns 3,059 shares of the company’s stock valued at $542,000 after acquiring an additional 69 shares during the last quarter. Palisades Hudson Asset Management L.P. grew its position in Johnson & Johnson by 5.0% in the 2nd quarter. Palisades Hudson Asset Management L.P. now owns 1,721 shares of the company’s stock valued at $284,000 after acquiring an additional 82 shares during the last quarter. Finally, Tradewinds LLC. grew its position in Johnson & Johnson by 0.6% in the 2nd quarter. Tradewinds LLC. now owns 14,866 shares of the company’s stock valued at $2,461,000 after acquiring an additional 90 shares during the last quarter. Institutional investors own 69.55% of the company’s stock.

Wall Street Analyst Weigh In

JNJ has been the topic of a number of analyst reports. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $181.00 price objective on shares of Johnson & Johnson in a research report on Wednesday, February 28th. Morgan Stanley lowered their price objective on 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 lifted their price objective on Johnson & Johnson from $172.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, January 3rd. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a report on Monday. Seven research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Johnson & Johnson 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.