FY2024 EPS Estimates for JNJ Increased by Cantor Fitzgerald

Johnson & Johnson (NYSE:JNJ) – Research analysts at Cantor Fitzgerald raised their FY2024 EPS estimates for Johnson & Johnson in a report issued on Wednesday, October 16th. Cantor Fitzgerald analyst L. Chen now forecasts that the company will post earnings of $9.88 per share for the year, up from their previous 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.

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, topping the consensus estimate of $2.21 by $0.21. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The company had revenue of $22.47 billion during the quarter, compared to analyst estimates of $22.17 billion. During the same period in the previous year, the business earned $2.66 earnings per share. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year.

Other analysts also recently issued reports about the stock. Royal Bank of Canada boosted their price target on shares of Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a research note on Wednesday. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 14th. TD Securities lowered their price target on shares of Johnson & Johnson from $195.00 to $185.00 in a research note on Thursday, July 18th. Citigroup upped their price objective on shares of Johnson & Johnson from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Wells Fargo & Company upped their price objective on shares of Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a research note on Wednesday. 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 Stock Performance

Johnson & Johnson stock opened at $165.12 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $397.39 billion, a PE ratio of 10.29, a P/E/G ratio of 2.65 and a beta of 0.52. The firm has a fifty day simple moving average of $162.98 and a two-hundred day simple moving average of $154.69. Johnson & Johnson has a twelve month low of $143.13 and a twelve month high of $168.85.

Johnson & Johnson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date is Tuesday, November 26th. Johnson & Johnson’s payout ratio is currently 30.92%.

Insider Buying and Selling

In related news, VP Robert J. Decker sold 5,635 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $165.06, for a total value of $930,113.10. Following the completion of the transaction, the vice president now directly owns 18,973 shares of the company’s stock, valued at $3,131,683.38. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.16% of the stock is owned by insiders.

Institutional Investors Weigh In On Johnson & Johnson

Hedge funds and other institutional investors have recently bought and sold shares of the business. Innealta Capital LLC purchased a new stake in Johnson & Johnson in the second quarter worth about $27,000. MFA Wealth Advisors LLC purchased a new stake in shares of Johnson & Johnson during the second quarter valued at approximately $43,000. Fairfield Financial Advisors LTD purchased a new stake in shares of Johnson & Johnson during the second quarter valued at approximately $46,000. Fairway Wealth LLC grew its holdings in shares of Johnson & Johnson by 217.1% during the second quarter. Fairway Wealth LLC now owns 333 shares of the company’s stock valued at $49,000 after buying an additional 228 shares during the last quarter. Finally, Quarry LP purchased a new stake in shares of Johnson & Johnson during the second quarter valued at approximately $49,000. 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.