Johnson & Johnson (NYSE:JNJ) to Post FY2024 Earnings of $10.57 Per Share, Cantor Fitzgerald Forecasts

Johnson & Johnson (NYSE:JNJ - Free Report) - Cantor Fitzgerald raised their FY2024 EPS estimates for shares of Johnson & Johnson in a research report issued on Wednesday, April 17th. Cantor Fitzgerald analyst L. Chen now forecasts that the company will post earnings of $10.57 per share for the year, up from their previous estimate of $10.55. Cantor Fitzgerald currently has a "Overweight" rating and a $215.00 target price on the stock. The consensus estimate for Johnson & Johnson's current full-year earnings is $10.65 per share.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, topping the consensus estimate of $2.64 by $0.07. The company had revenue of $21.38 billion for the quarter, compared to analyst estimates of $21.39 billion. Johnson & Johnson had a return on equity of 36.43% and a net margin of 45.26%. The firm's revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.68 earnings per share.

Other equities research analysts have also recently issued reports about the stock. Morgan Stanley reduced their target price on shares of Johnson & Johnson from $168.00 to $167.00 and set an "equal weight" rating for the company in a report on Wednesday. Royal Bank of Canada lowered their target price on Johnson & Johnson from $181.00 to $175.00 and set an "outperform" rating on the stock in a research note on Wednesday. StockNews.com upgraded Johnson & Johnson from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, February 6th. HSBC upgraded shares of Johnson & Johnson from a "hold" rating to a "buy" rating and lifted their price objective for the company from $169.00 to $170.00 in a research report on Thursday. Finally, Raymond James raised their target price on shares of Johnson & Johnson from $172.00 to $175.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 3rd. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Johnson & Johnson has an average rating of "Moderate Buy" and an average price target of $175.86.

Johnson & Johnson Stock Performance

JNJ stock traded up $2.19 on Friday, hitting $147.93. The company's stock had a trading volume of 9,747,684 shares, compared to its average volume of 7,287,224. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $175.97. 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 stock has a market cap of $356.48 billion, a price-to-earnings ratio of 9.22, a price-to-earnings-growth ratio of 2.39 and a beta of 0.53. The firm has a 50 day moving average of $156.15 and a two-hundred day moving average of $155.63.

Johnson & Johnson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st will be paid a $1.24 dividend. 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 3.35%. The ex-dividend date is Monday, May 20th. Johnson & Johnson's dividend payout ratio (DPR) is presently 30.92%.

Insider Buying and Selling

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 59,397 shares of the company's stock in a transaction on Friday, February 9th. The stock was sold at an average price of $156.27, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, major shareholder & Johnson Johnson sold 3,725 shares of Johnson & Johnson 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 completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jennifer L. Taubert sold 59,397 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $156.27, for a total value of $9,281,969.19. Following the sale, the executive vice president now owns 141,416 shares in the company, valued at approximately $22,099,078.32. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Johnson & Johnson

A number of institutional investors have recently made changes to their positions in the stock. 4J Wealth Management LLC boosted its stake in shares of Johnson & Johnson by 2.2% in the 4th quarter. 4J Wealth Management LLC now owns 2,835 shares of the company's stock valued at $444,000 after purchasing an additional 62 shares during the last quarter. My Personal CFO LLC boosted its stake in Johnson & Johnson by 1.4% in the fourth quarter. My Personal CFO LLC now owns 4,550 shares of the company's stock valued at $713,000 after acquiring an additional 62 shares during the last quarter. Eagle Strategies LLC grew its holdings in Johnson & Johnson by 1.8% during the 4th quarter. Eagle Strategies LLC now owns 3,589 shares of the company's stock worth $563,000 after acquiring an additional 63 shares during the period. FIDELIS iM LLC raised 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 acquiring an additional 64 shares during the last quarter. Finally, Clearview Wealth Advisors LLC lifted its stake in shares of Johnson & Johnson by 1.5% in the 4th quarter. Clearview Wealth Advisors LLC now owns 4,373 shares of the company's stock valued at $685,000 after purchasing an additional 64 shares during the period. 69.55% of the stock is owned by institutional investors and hedge funds.

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.