FY2024 Earnings Estimate for JNJ Issued By Cantor Fitzgerald

Johnson & Johnson (NYSE:JNJ) – Cantor Fitzgerald upped their FY2024 earnings per share estimates for shares of Johnson & Johnson in a research note issued to investors on Wednesday, October 16th. Cantor Fitzgerald analyst L. Chen now expects that the company will earn $9.88 per share for the year, up from their prior estimate of $9.73. Cantor Fitzgerald has a “Overweight” rating and a $215.00 price target on the stock. The consensus estimate for Johnson & Johnson’s current full-year earnings is $10.00 per share.

A number of other research analysts have also weighed in on JNJ. Sanford C. Bernstein raised their price target on shares of Johnson & Johnson from $161.00 to $171.00 in a research note on Thursday, July 18th. Wells Fargo & Company lifted their price target on Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Wednesday. TD Securities reduced their price objective on Johnson & Johnson from $195.00 to $185.00 in a research note on Thursday, July 18th. Citigroup lifted their target price on shares of Johnson & Johnson from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Daiwa Capital Markets cut shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $160.00 to $150.00 in a research report on Tuesday, July 23rd. Six investment 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 stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $175.93.

Johnson & Johnson Stock Up 0.4 %

Shares of NYSE JNJ opened at $165.13 on Friday. The firm has a market cap of $397.41 billion, a price-to-earnings ratio of 10.29, a price-to-earnings-growth ratio of 2.65 and a beta of 0.52. The company’s 50-day simple moving average is $162.98 and its 200-day simple moving average is $154.71. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $168.85.

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

Institutional Trading of Johnson & Johnson

A number of institutional investors and hedge funds have recently added to or reduced their stakes in JNJ. Price T Rowe Associates Inc. MD lifted its stake in Johnson & Johnson by 16.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock worth $3,453,978,000 after acquiring an additional 3,139,499 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Johnson & Johnson by 10.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 18,780,645 shares of the company’s stock valued at $2,744,979,000 after purchasing an additional 1,831,751 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of Johnson & Johnson by 5.5% in the second quarter. Ameriprise Financial Inc. now owns 14,374,397 shares of the company’s stock valued at $2,100,427,000 after purchasing an additional 754,200 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Johnson & Johnson by 16.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,147,352 shares of the company’s stock worth $1,921,565,000 after buying an additional 1,829,257 shares during the period. Finally, American Century Companies Inc. lifted its holdings in Johnson & Johnson by 5.8% during the 2nd quarter. American Century Companies Inc. now owns 8,014,213 shares of the company’s stock worth $1,171,357,000 after buying an additional 437,637 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Insider Activity

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

Johnson & Johnson Announces Dividend

The firm 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 3.00%. Johnson & Johnson’s dividend payout ratio is currently 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.