Johnson & Johnson (NYSE:JNJ) Posts Earnings Results, Beats Estimates By $0.21 EPS

Johnson & Johnson (NYSE:JNJ) released its quarterly earnings results on Tuesday. The company reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.21, Briefing.com reports. 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 company posted $2.66 earnings per share. Johnson & Johnson updated its FY 2024 guidance to 9.880-9.980 EPS and its FY24 guidance to $9.88-9.98 EPS.

Johnson & Johnson Stock Up 0.4 %

Shares of NYSE:JNJ traded up $0.61 during midday trading on Thursday, reaching $164.89. The company had a trading volume of 1,003,243 shares, compared to its average volume of 7,016,341. The stock’s fifty day moving average price is $162.81 and its 200-day moving average price is $154.59. The stock has a market capitalization of $396.84 billion, a P/E ratio of 10.24, a PEG ratio of 2.65 and a beta of 0.52. Johnson & Johnson has a one year low of $143.13 and a one year 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.

Johnson & Johnson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be paid a dividend of $1.24 per share. The ex-dividend date is Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a yield of 3.01%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 30.92%.

Insider Transactions at Johnson & Johnson

In other news, VP Robert J. Decker sold 5,635 shares of the business’s 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 sale, the vice president now owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

JNJ has been the subject of a number of recent analyst reports. Royal Bank of Canada raised their price objective on shares of Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a research report on Wednesday. Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research note on Wednesday. Daiwa Capital Markets cut shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $160.00 to $150.00 in a research note on Tuesday, July 23rd. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 14th. Finally, Wells Fargo & Company lifted their target price on shares of Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Johnson & Johnson presently has an average rating of “Moderate Buy” and a consensus price target of $175.93.

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.