Cantor Fitzgerald Comments on Johnson & Johnson’s FY2024 Earnings (NYSE:JNJ)

Johnson & Johnson (NYSE:JNJ) – Investment analysts at Cantor Fitzgerald reduced their FY2024 earnings per share (EPS) estimates for Johnson & Johnson in a research note issued on Tuesday, June 25th. Cantor Fitzgerald analyst L. Chen now anticipates that the company will post earnings of $10.47 per share for the year, down from their prior forecast of $10.57. Cantor Fitzgerald currently has a “Overweight” rating and a $215.00 target price on the stock. The consensus estimate for Johnson & Johnson’s current full-year earnings is $10.63 per share.

Johnson & Johnson (NYSE:JNJ) last released its earnings results 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 company had revenue of $21.38 billion during 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 quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.68 earnings per share.

Other research analysts have also recently issued reports about the company. StockNews.com cut Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 22nd. The Goldman Sachs Group began coverage on Johnson & Johnson in a research note on Thursday, May 30th. They issued a “neutral” rating and a $160.00 target price for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 target price on shares of Johnson & Johnson in a research note on Monday, June 17th. Bank of America decreased their target price on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. Finally, Morgan Stanley decreased their target price on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 17th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $174.07.

Johnson & Johnson Stock Down 0.3 %

Shares of Johnson & Johnson stock opened at $146.81 on Thursday. 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 has a 12 month low of $143.13 and a 12 month high of $175.97. The business has a fifty day simple moving average of $148.13 and a 200 day simple moving average of $154.24. The stock has a market cap of $353.32 billion, a PE ratio of 9.15, a price-to-earnings-growth ratio of 2.45 and a beta of 0.53.

Johnson & Johnson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st were issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 3.38%. The ex-dividend date was Monday, May 20th. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s dividend payout ratio is presently 30.92%.

Institutional Trading of Johnson & Johnson

Several institutional investors and hedge funds have recently bought and sold shares of JNJ. Norges Bank bought a new stake in Johnson & Johnson during the fourth quarter worth about $4,071,642,000. Wellington Management Group LLP raised its stake in Johnson & Johnson by 16.4% in the fourth quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock valued at $3,764,852,000 after buying an additional 3,391,657 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Johnson & Johnson by 16.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock valued at $3,453,978,000 after buying an additional 3,139,499 shares during the period. Swedbank AB bought a new stake in Johnson & Johnson in the first quarter valued at approximately $331,178,000. Finally, International Assets Investment Management LLC raised its stake in Johnson & Johnson by 7,875.8% in the fourth quarter. International Assets Investment Management LLC now owns 2,090,384 shares of the company’s stock valued at $327,647,000 after buying an additional 2,064,175 shares during the period. 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.