Johnson & Johnson (NYSE:JNJ) Forecasted to Earn Q3 2023 Earnings of $2.56 Per Share

Johnson & Johnson (NYSE:JNJ) – Equities research analysts at Leerink Partnrs issued their Q3 2023 earnings estimates for Johnson & Johnson in a note issued to investors on Tuesday, September 12th. Leerink Partnrs analyst D. Risinger anticipates that the company will post earnings per share of $2.56 for the quarter. The consensus estimate for Johnson & Johnson’s current full-year earnings is $10.03 per share. Leerink Partnrs also issued estimates for Johnson & Johnson’s Q4 2023 earnings at $2.48 EPS, FY2023 earnings at $10.00 EPS, Q1 2024 earnings at $2.70 EPS, Q2 2024 earnings at $2.79 EPS, Q3 2024 earnings at $2.85 EPS, Q4 2024 earnings at $2.68 EPS, FY2024 earnings at $11.02 EPS, FY2025 earnings at $11.28 EPS, FY2026 earnings at $11.39 EPS and FY2027 earnings at $11.84 EPS.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Thursday, July 20th. The company reported $2.80 earnings per share for the quarter, topping the consensus estimate of $2.62 by $0.18. The company had revenue of $25.53 billion for the quarter, compared to analysts’ expectations of $24.63 billion. Johnson & Johnson had a return on equity of 36.72% and a net margin of 13.35%. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.59 earnings per share.

JNJ has been the subject of a number of other reports. TheStreet raised Johnson & Johnson from a “c+” rating to a “b+” rating in a research note on Monday, August 21st. Morgan Stanley dropped their target price on shares of Johnson & Johnson from $187.00 to $172.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 31st. Stifel Nicolaus increased their price objective on Johnson & Johnson from $165.00 to $175.00 in a research note on Friday, July 21st. HSBC initiated coverage on Johnson & Johnson in a report on Wednesday, September 6th. They issued a “hold” rating and a $175.00 target price for the company. Finally, Raymond James lowered their price objective on shares of Johnson & Johnson from $184.00 to $179.00 and set an “outperform” rating for the company in a research note on Tuesday, September 5th. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $170.65.

Johnson & Johnson Trading Up 0.3 %

JNJ stock opened at $163.99 on Thursday. The firm’s fifty day simple moving average is $166.10 and its two-hundred day simple moving average is $161.64. The stock has a market capitalization of $426.20 billion, a price-to-earnings ratio of 33.20, a price-to-earnings-growth ratio of 3.47 and a beta of 0.54. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 0.44. Johnson & Johnson has a twelve month low of $150.11 and a twelve month high of $181.04.

Hedge Funds Weigh In On Johnson & Johnson

A number of hedge funds have recently bought and sold shares of JNJ. Atlantic Private Wealth LLC acquired a new position in shares of Johnson & Johnson during the 1st quarter worth about $32,000. GW&K Investment Management LLC acquired a new stake in shares of Johnson & Johnson in the fourth quarter worth approximately $35,000. Dark Forest Capital Management LP increased its position in shares of Johnson & Johnson by 1,044.4% during the fourth quarter. Dark Forest Capital Management LP now owns 206 shares of the company’s stock worth $36,000 after purchasing an additional 188 shares in the last quarter. Ruedi Wealth Management Inc. acquired a new stake in Johnson & Johnson during the 4th quarter worth $42,000. Finally, Kepos Capital LP acquired a new stake in shares of Johnson & Johnson in the fourth quarter valued at about $45,000. Hedge funds and other institutional investors own 68.40% of the company’s stock.

Insider Buying and Selling

In other Johnson & Johnson news, insider William Hait sold 14,698 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $172.00, for a total transaction of $2,528,056.00. Following the completion of the transaction, the insider now directly owns 87,747 shares of the company’s stock, valued at approximately $15,092,484. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Peter Fasolo sold 20,000 shares of the firm’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $170.32, for a total transaction of $3,406,400.00. Following the sale, the vice president now owns 102,696 shares in the company, valued at $17,491,182.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider William Hait sold 14,698 shares of the company’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $172.00, for a total transaction of $2,528,056.00. Following the completion of the transaction, the insider now owns 87,747 shares of the company’s stock, valued at approximately $15,092,484. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 7th. Stockholders of record on Monday, August 28th were paid a $1.19 dividend. This represents a $4.76 annualized dividend and a dividend yield of 2.90%. The ex-dividend date was Friday, August 25th. Johnson & Johnson’s payout ratio is 96.36%.

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 Consumer Health segment provides skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR. CI:LABO, NEUTROGENA, and OGX brands; baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; TYLENOL acetaminophen products; SUDAFED cold, flu, and allergy products; BENADRYL and ZYRTEC allergy products; MOTRIN IB ibuprofen products; NICORETTE smoking cessation products; and PEPCID acid reflux products.