Q3 2024 EPS Estimates for Johnson & Johnson (NYSE:JNJ) Cut by Analyst

Johnson & Johnson (NYSE:JNJ) – Investment analysts at Zacks Research lowered their Q3 2024 earnings estimates for shares of Johnson & Johnson in a research note issued on Tuesday, May 7th. Zacks Research analyst K. Shah now forecasts that the company will earn $2.70 per share for the quarter, down from their previous estimate of $2.74. The consensus estimate for Johnson & Johnson’s current full-year earnings is $10.65 per share.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data 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 the consensus estimate of $21.39 billion. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.68 earnings per share.

Several other research analysts have also issued reports on the company. HSBC raised Johnson & Johnson from a “hold” rating to a “buy” rating and upped their target price for the company from $169.00 to $170.00 in a research report on Thursday, April 18th. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 6th. Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research note on Monday. Royal Bank of Canada cut their target price on Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 17th. Finally, Bank of America lowered their price target on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $175.86.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $149.85 on Friday. The company has a current ratio of 1.17, a quick ratio of 0.94 and a debt-to-equity ratio of 0.36. The company has a market cap of $360.64 billion, a PE ratio of 9.34, a PEG ratio of 2.46 and a beta of 0.55. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $175.97. The business’s fifty day simple moving average is $153.45 and its 200-day simple moving average is $154.93.

Hedge Funds Weigh In On Johnson & Johnson

A number of institutional investors have recently bought and sold shares of the company. Pathway Financial Advisors LLC raised its stake in shares of Johnson & Johnson by 4.3% in the 4th quarter. Pathway Financial Advisors LLC now owns 5,438 shares of the company’s stock valued at $852,000 after acquiring an additional 226 shares during the period. Daiwa Securities Group Inc. boosted its position in shares of Johnson & Johnson by 5.5% during the fourth quarter. Daiwa Securities Group Inc. now owns 297,850 shares of the company’s stock worth $46,685,000 after buying an additional 15,490 shares during the period. DORCHESTER WEALTH MANAGEMENT Co grew its stake in shares of Johnson & Johnson by 0.6% in the third quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 75,495 shares of the company’s stock valued at $11,758,000 after buying an additional 414 shares in the last quarter. OneAscent Financial Services LLC lifted its stake in Johnson & Johnson by 82.8% during the 4th quarter. OneAscent Financial Services LLC now owns 9,838 shares of the company’s stock worth $1,542,000 after acquiring an additional 4,457 shares in the last quarter. Finally, Drive Wealth Management LLC boosted its holdings in Johnson & Johnson by 4.5% during the 1st quarter. Drive Wealth Management LLC now owns 9,625 shares of the company’s stock valued at $1,523,000 after acquiring an additional 414 shares during the period. 69.55% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Johnson & Johnson

In other news, major shareholder & Johnson Johnson sold 3,725 shares of the firm’s 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 transaction, the insider now directly owns 4,099,575 shares of the company’s stock, valued at $105,810,030.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.16% of the company’s stock.

Johnson & Johnson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st will be issued a dividend of $1.24 per share. The ex-dividend date is Monday, May 20th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.31%. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s dividend payout ratio is presently 30.92%.

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.