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

Johnson & Johnson (NYSE:JNJ) released its quarterly earnings data on Tuesday. The company reported $2.71 EPS for the quarter, beating the consensus estimate 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 company had revenue of $21.38 billion for the quarter, compared to analyst estimates of $21.39 billion. During the same period last year, the company posted $2.68 earnings per share. The firm’s revenue was up 2.3% compared to the same quarter last year. 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

JNJ opened at $144.45 on Wednesday. The business’s 50 day moving average is $156.80 and its 200-day moving average is $155.82. The stock has a market cap of $348.09 billion, a PE ratio of 10.46, a price-to-earnings-growth ratio of 2.45 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 twelve month low of $143.39 and a twelve month high of $175.97.

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 issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date of this dividend is Monday, May 20th. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s payout ratio is 34.47%.

Analyst Ratings Changes

A number of equities analysts recently commented on JNJ shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research note on Monday. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 6th. Raymond James lifted their price target on Johnson & Johnson from $172.00 to $175.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 3rd. Morgan Stanley decreased their price target on Johnson & Johnson from $170.00 to $169.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 24th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $181.00 price target on shares of Johnson & Johnson in a research note on Wednesday, February 28th. 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $177.31.

Insider Activity

In related 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 sale, the executive vice president now owns 141,416 shares of the company’s stock, valued at $22,099,078.32. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related 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 sale, the executive vice president now owns 141,416 shares of the company’s stock, valued at $22,099,078.32. The sale was disclosed in a filing with the SEC, which is available 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 stock was sold at an average price of $25.81, for a total value of $96,142.25. Following the sale, 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. Corporate insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Grayhawk Investment Strategies Inc. grew its position in Johnson & Johnson by 528.6% during the 4th quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock worth $48,000 after purchasing an additional 259 shares in the last quarter. Aspect Partners LLC purchased a new position in Johnson & Johnson during the 4th quarter worth approximately $91,000. Groupama Asset Managment purchased a new position in Johnson & Johnson during the 4th quarter worth approximately $98,000. Mango Five Family Inc. purchased a new position in Johnson & Johnson during the 4th quarter worth approximately $110,000. Finally, Pacific Center for Financial Services purchased a new position in Johnson & Johnson during the 1st quarter worth approximately $116,000. Institutional investors own 69.55% of the company’s stock.

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.