Leerink Partnrs Expects Lower Earnings for Johnson & Johnson

Johnson & Johnson (NYSE:JNJ) – Stock analysts at Leerink Partnrs reduced their FY2024 EPS estimates for Johnson & Johnson in a research report issued on Wednesday, October 16th. Leerink Partnrs analyst D. Risinger now forecasts that the company will post earnings per share of $9.91 for the year, down from their previous forecast of $10.06. The consensus estimate for Johnson & Johnson’s current full-year earnings is $10.00 per share. Leerink Partnrs also issued estimates for Johnson & Johnson’s Q4 2024 earnings at $1.96 EPS, FY2025 earnings at $10.11 EPS and FY2026 earnings at $10.23 EPS.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.21. The business had revenue of $22.47 billion during the quarter, compared to analysts’ expectations of $22.17 billion. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The business’s revenue was up 5.2% on a year-over-year basis. During the same period last year, the firm posted $2.66 earnings per share.

A number of other analysts have also recently weighed in on JNJ. Citigroup raised their target price on shares of Johnson & Johnson from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday. Daiwa America cut shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 23rd. The Goldman Sachs Group reduced their target price on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a report on Friday, July 19th. Sanford C. Bernstein raised their target price on shares of Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. Finally, Daiwa Capital Markets downgraded shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $160.00 to $150.00 in a research report on Tuesday, July 23rd. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $175.93.

Johnson & Johnson Trading Up 0.1 %

Johnson & Johnson stock opened at $164.49 on Thursday. The stock has a market capitalization of $395.87 billion, a PE ratio of 10.25, a price-to-earnings-growth ratio of 2.65 and a beta of 0.52. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $168.85. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 0.85. The firm has a 50 day simple moving average of $162.89 and a 200-day simple moving average of $154.66.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of JNJ. Marshall Wace LLP grew its stake in Johnson & Johnson by 506.9% in the 2nd quarter. Marshall Wace LLP now owns 3,884,962 shares of the company’s stock valued at $567,826,000 after buying an additional 3,244,862 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Johnson & Johnson by 16.8% in the 1st 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 last quarter. Ninety One UK Ltd grew its position in Johnson & Johnson by 59.0% in the 2nd quarter. Ninety One UK Ltd now owns 6,708,943 shares of the company’s stock worth $980,579,000 after purchasing an additional 2,489,925 shares during the last quarter. Swedbank AB acquired a new stake in Johnson & Johnson in the 1st quarter worth $331,178,000. Finally, Massachusetts Financial Services Co. MA grew its position in Johnson & Johnson by 10.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 18,780,645 shares of the company’s stock worth $2,744,979,000 after purchasing an additional 1,831,751 shares during the last quarter. Institutional investors own 69.55% of the company’s stock.

Insiders Place Their Bets

In other news, VP Robert J. Decker sold 5,635 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the transaction, the vice president now owns 18,973 shares in the company, valued at approximately $3,131,683.38. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.16% of the company’s stock.

Johnson & Johnson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be given a $1.24 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a yield of 3.02%. Johnson & Johnson’s payout ratio is 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.