Johnson & Johnson to Post Q2 2024 Earnings of $2.73 Per Share, Leerink Partnrs Forecasts (NYSE:JNJ)

Johnson & Johnson (NYSE:JNJ) – Research analysts at Leerink Partnrs reduced their Q2 2024 earnings estimates for Johnson & Johnson in a research note issued to investors on Wednesday, April 17th. Leerink Partnrs analyst D. Risinger now forecasts that the company will post earnings per share of $2.73 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.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $0.07. The firm had revenue of $21.38 billion during the quarter, compared to analyst estimates of $21.39 billion. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.43%. The company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the business earned $2.68 earnings per share.

A number of other equities analysts have also commented on the stock. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 6th. Morgan Stanley cut their price objective on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a research report on Wednesday. Raymond James raised their price objective on shares of Johnson & Johnson from $172.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, January 3rd. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research report on Monday, April 15th. Finally, Bank of America cut their price objective on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $175.86.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ opened at $147.93 on Thursday. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $356.48 billion, a PE ratio of 9.22, a P/E/G ratio of 2.39 and a beta of 0.53. Johnson & Johnson has a twelve month low of $143.13 and a twelve month high of $175.97. The company has a 50-day moving average price of $156.15 and a two-hundred day moving average price of $155.63.

Johnson & Johnson Increases Dividend

The firm 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 $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.35%. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date of this dividend is Monday, May 20th. Johnson & Johnson’s payout ratio is presently 30.92%.

Insider Transactions at Johnson & Johnson

In other news, 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 completion of the sale, the insider now directly owns 4,099,575 shares in the company, valued at approximately $105,810,030.75. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Jennifer L. Taubert sold 59,397 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $156.27, for a total transaction of $9,281,969.19. Following the completion of the sale, the executive vice president now directly owns 141,416 shares in the company, valued at approximately $22,099,078.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder & Johnson Johnson sold 3,725 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $25.81, for a total transaction of $96,142.25. Following the sale, the insider now owns 4,099,575 shares of the company’s stock, valued at $105,810,030.75. The disclosure for this sale can be found here. Company insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Johnson & Johnson

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hibernia Wealth Partners LLC purchased a new position in Johnson & Johnson during the 3rd quarter valued at $27,000. FNY Investment Advisers LLC purchased a new position in Johnson & Johnson during the 3rd quarter valued at $37,000. Tower View Wealth Management LLC increased its position in Johnson & Johnson by 183.3% during the 3rd quarter. Tower View Wealth Management LLC now owns 255 shares of the company’s stock valued at $40,000 after purchasing an additional 165 shares during the period. Keener Financial Planning LLC purchased a new position in Johnson & Johnson during the 4th quarter valued at $40,000. Finally, WFA Asset Management Corp increased its position in Johnson & Johnson by 61.4% during the 4th quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock valued at $40,000 after purchasing an additional 97 shares during the period. 69.55% of the stock is currently owned by institutional investors.

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.