Cantor Fitzgerald Issues Positive Estimate for JNJ Earnings

Johnson & Johnson (NYSE:JNJ) – Investment analysts at Cantor Fitzgerald raised their FY2024 EPS estimates for Johnson & Johnson in a research note issued to investors on Wednesday, October 16th. Cantor Fitzgerald analyst L. Chen now forecasts 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.

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

Several other equities research analysts also recently issued reports on the company. TD Cowen lowered their price target on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Daiwa America lowered Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Citigroup raised their price objective on shares of Johnson & Johnson from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday. The Goldman Sachs Group cut their target price on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a research note on Friday, July 19th. Finally, Sanford C. Bernstein boosted their price objective on shares of Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. Six equities 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $175.93.

Johnson & Johnson Price Performance

NYSE JNJ opened at $164.49 on Friday. The company has a market cap of $395.87 billion, a P/E ratio of 10.25, a P/E/G ratio of 2.65 and a beta of 0.52. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $168.85. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. The company has a fifty day simple moving average of $162.89 and a 200 day simple moving average of $154.66.

Institutional Trading of Johnson & Johnson

Large investors have recently made changes to their positions in the business. Innealta Capital LLC acquired a new stake in Johnson & Johnson in the 2nd quarter valued at about $27,000. MFA Wealth Advisors LLC acquired a new stake in shares of Johnson & Johnson in the second quarter valued at approximately $43,000. Fairfield Financial Advisors LTD bought a new position in Johnson & Johnson in the 2nd quarter worth approximately $46,000. Fairway Wealth LLC lifted its holdings in Johnson & Johnson by 217.1% during the 2nd quarter. Fairway Wealth LLC now owns 333 shares of the company’s stock worth $49,000 after buying an additional 228 shares in the last quarter. Finally, Quarry LP bought a new position in Johnson & Johnson in the 2nd quarter valued at $49,000. Institutional investors own 69.55% of the company’s stock.

Insider Transactions at Johnson & Johnson

In related news, VP Robert J. Decker sold 5,635 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $165.06, for a total transaction of $930,113.10. Following the sale, the vice president now directly owns 18,973 shares in the company, valued at $3,131,683.38. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.16% of the company’s stock.

Johnson & Johnson Dividend Announcement

The company also recently declared 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 dividend payout ratio (DPR) is presently 30.92%.

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.