Johnson & Johnson (NYSE:JNJ) Announces Earnings Results, Beats Estimates By $0.07 EPS

Johnson & Johnson (NYSE:JNJ - Get Free Report) announced its earnings results on Tuesday. The company reported $2.71 EPS for the quarter, topping analysts' consensus estimates of $2.64 by $0.07, RTT News reports. The business had revenue of $21.38 billion during the quarter, compared to the consensus estimate of $21.39 billion. Johnson & Johnson had a net margin of 37.79% and a return on equity of 37.27%. The firm's revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.68 earnings per share. 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

NYSE JNJ traded down $3.14 during trading hours on Tuesday, reaching $144.45. The stock had a trading volume of 12,682,507 shares, compared to its average volume of 7,188,024. The stock has a fifty day moving average of $156.80 and a 200 day moving average of $155.82. The stock has a market cap of $348.09 billion, a P/E ratio of 10.46, a price-to-earnings-growth ratio of 2.48 and a beta of 0.53. Johnson & Johnson has a 52-week low of $143.39 and a 52-week high of $175.97. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.91 and a current ratio of 1.16.

Johnson & Johnson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st will be given 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 3.43%. This is a positive change from Johnson & Johnson's previous quarterly dividend of $1.19. Johnson & Johnson's dividend payout ratio is currently 34.47%.

Insider Activity at Johnson & Johnson

In related news, EVP Jennifer L. Taubert sold 59,397 shares of the company'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 value of $9,281,969.19. Following the sale, the executive vice president now owns 141,416 shares in the company, valued at $22,099,078.32. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Johnson & Johnson news, 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 completion of the transaction, the insider now directly owns 4,099,575 shares of the company's stock, valued at $105,810,030.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jennifer L. Taubert sold 59,397 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 141,416 shares of the company's stock, valued at $22,099,078.32. The disclosure for this sale can be found here. 0.16% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Delap Wealth Advisory LLC acquired a new position in shares of Johnson & Johnson during the 3rd quarter worth approximately $231,000. Vantage Financial Partners LLC acquired a new position in shares of Johnson & Johnson during the 4th quarter worth approximately $218,000. Private Capital Management LLC acquired a new position in shares of Johnson & Johnson during the 1st quarter worth approximately $213,000. Arkos Global Advisors acquired a new position in shares of Johnson & Johnson during the 2nd quarter worth approximately $206,000. Finally, MayTech Global Investments LLC acquired a new position in shares of Johnson & Johnson during the 4th quarter worth approximately $170,000. 69.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on JNJ shares. Royal Bank of Canada reiterated an "outperform" rating and issued a $181.00 target price on shares of Johnson & Johnson in a report on Wednesday, February 28th. Morgan Stanley reduced their target price on shares of Johnson & Johnson from $170.00 to $169.00 and set an "equal weight" rating for the company in a report on Wednesday, January 24th. Raymond James boosted their target price on shares of Johnson & Johnson from $172.00 to $175.00 and gave the stock an "outperform" rating in a report on Wednesday, January 3rd. StockNews.com upgraded Johnson & Johnson from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, February 6th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $215.00 price target on shares of Johnson & Johnson in a research note on Monday. Seven research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Johnson & Johnson currently 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.