Cantor Fitzgerald Analysts Lift Earnings Estimates for Johnson & Johnson (NYSE:JNJ)

Johnson & Johnson (NYSE:JNJ) – Cantor Fitzgerald raised their FY2024 earnings estimates for shares of Johnson & Johnson in a report issued on Wednesday, April 17th. Cantor Fitzgerald analyst L. Chen now forecasts that the company will earn $10.57 per share for the year, up from their prior estimate of $10.55. Cantor Fitzgerald currently has a “Overweight” rating and a $215.00 price objective on the stock. The consensus estimate for Johnson & Johnson’s current full-year earnings is $10.65 per share.

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

A number of other equities research analysts have also recently weighed in on the stock. Royal Bank of Canada decreased their price objective on shares of Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating for the company in a research note on Wednesday. Morgan Stanley decreased their price objective on 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 boosted their target price on Johnson & Johnson from $172.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, January 3rd. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 6th. Finally, Bank of America dropped their price objective on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research note on Wednesday. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Johnson & Johnson presently has an average rating of “Moderate Buy” and an average target price of $175.86.

Johnson & Johnson Price Performance

JNJ stock opened at $147.91 on Friday. The business has a 50 day moving average price of $156.15 and a 200 day moving average price of $155.63. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $175.97. 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 stock has a market cap of $356.43 billion, a price-to-earnings ratio of 9.22, a PEG ratio of 2.40 and a beta of 0.53.

Johnson & Johnson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st will be given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.35%. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date of this dividend is Monday, May 20th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 29.68%.

Insider Transactions at Johnson & Johnson

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

Institutional Investors Weigh In On Johnson & Johnson

A number of institutional investors and hedge funds have recently bought and sold shares of JNJ. DORCHESTER WEALTH MANAGEMENT Co raised its stake in Johnson & Johnson by 0.6% in the 3rd quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 75,495 shares of the company’s stock valued at $11,758,000 after purchasing an additional 414 shares during the last quarter. OneAscent Financial Services LLC lifted its stake in shares of Johnson & Johnson by 82.8% during the fourth quarter. OneAscent Financial Services LLC now owns 9,838 shares of the company’s stock valued at $1,542,000 after buying an additional 4,457 shares during the period. TrueMark Investments LLC acquired a new stake in Johnson & Johnson during the fourth quarter worth approximately $1,458,000. RAM Investment Partners LLC raised its holdings in Johnson & Johnson by 4.5% in the 4th quarter. RAM Investment Partners LLC now owns 1,688 shares of the company’s stock valued at $265,000 after acquiring an additional 73 shares during the last quarter. Finally, RFG Advisory LLC lifted its stake in shares of Johnson & Johnson by 12.6% during the 3rd quarter. RFG Advisory LLC now owns 18,758 shares of the company’s stock worth $2,921,000 after purchasing an additional 2,102 shares during the period. Hedge funds and other institutional investors own 69.55% of the company’s stock.

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.