Johnson & Johnson Forecasted to Post Q3 2024 Earnings of $2.70 Per Share (NYSE:JNJ)

Johnson & Johnson (NYSE:JNJ - Free Report) - Analysts at Zacks Research dropped their Q3 2024 earnings estimates for Johnson & Johnson in a report released on Tuesday, May 7th. Zacks Research analyst K. Shah now anticipates that the company will earn $2.70 per share for the quarter, down from their prior forecast of $2.74. The consensus estimate for Johnson & Johnson's current full-year earnings is $10.65 per share.

JNJ has been the topic of a number of other reports. Cantor Fitzgerald reissued an "overweight" rating and set a $215.00 price target on shares of Johnson & Johnson in a report on Monday. HSBC raised shares of Johnson & Johnson from a "hold" rating to a "buy" rating and increased their price target for the stock from $169.00 to $170.00 in a report on Thursday, April 18th. Royal Bank of Canada lowered their price target on shares of Johnson & Johnson from $181.00 to $175.00 and set an "outperform" rating on the stock in a report on Wednesday, April 17th. Morgan Stanley decreased their price objective on shares of Johnson & Johnson from $168.00 to $167.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 17th. Finally, StockNews.com raised shares of Johnson & Johnson from a "buy" rating to a "strong-buy" rating in a report on Tuesday, February 6th. 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's stock. According to data from MarketBeat.com, Johnson & Johnson presently has an average rating of "Moderate Buy" and a consensus price target of $175.86.

Johnson & Johnson Stock Performance

Shares of NYSE:JNJ traded up $0.06 during midday trading on Friday, reaching $149.91. The company's stock had a trading volume of 5,536,154 shares, compared to its average volume of 8,615,636. The firm has a market capitalization of $360.79 billion, a PE ratio of 9.35, a P/E/G ratio of 2.45 and a beta of 0.55. Johnson & Johnson has a twelve month low of $143.13 and a twelve month high of $175.97. The stock has a fifty day moving average of $153.22 and a 200 day moving average of $154.89. The company has a quick ratio of 0.94, a current ratio of 1.17 and a debt-to-equity ratio of 0.36.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its quarterly earnings data 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 for 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 36.70%. The business's quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.68 earnings per share.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Christopher J. Hasenberg Inc purchased a new stake in shares of Johnson & Johnson during the 1st quarter worth approximately $31,000. Tower View Wealth Management LLC increased its holdings in shares of Johnson & Johnson by 183.3% in the 3rd quarter. Tower View Wealth Management LLC now owns 255 shares of the company's stock valued at $40,000 after acquiring an additional 165 shares during the period. Keener Financial Planning LLC acquired a new position in shares of Johnson & Johnson in the 4th quarter valued at $40,000. WFA Asset Management Corp increased its holdings in shares of Johnson & Johnson by 61.4% in the 4th quarter. WFA Asset Management Corp now owns 255 shares of the company's stock valued at $40,000 after acquiring an additional 97 shares during the period. Finally, Vermillion & White Wealth Management Group LLC acquired a new position in shares of Johnson & Johnson in the 4th quarter valued at $44,000. Hedge funds and other institutional investors own 69.55% of the company's stock.

Insider Buying and Selling

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 shares were sold at an average price of $25.81, for a total value of $96,142.25. Following the completion of the transaction, the insider now owns 4,099,575 shares in the company, valued at $105,810,030.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.16% of the stock is owned by insiders.

Johnson & Johnson Increases Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Monday, May 20th. This represents a $4.96 dividend on an annualized basis and a yield of 3.31%. This is an increase from Johnson & Johnson's previous quarterly dividend of $1.19. Johnson & Johnson's payout ratio is currently 29.68%.

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.