Johnson & Johnson (NYSE:JNJ) Announces Earnings Results, Beats Estimates By $0.07 EPS

Johnson & Johnson (NYSE:JNJ) released its earnings results on Tuesday. The company reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $0.07, RTT News reports. The firm had revenue of $21.38 billion during the quarter, compared to analyst estimates of $21.39 billion. Johnson & Johnson had a net margin of 37.79% and a return on equity of 37.27%. The business’s revenue was up 2.3% on a year-over-year basis. During the same period last year, the business earned $2.68 earnings per share. Johnson & Johnson updated its FY 2024 guidance to 10.570-10.720 EPS and its FY24 guidance to $10.57-10.72 EPS.

Johnson & Johnson Stock Down 0.0 %

JNJ opened at $147.49 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $355.42 billion, a PE ratio of 10.68, a price-to-earnings-growth ratio of 2.48 and a beta of 0.53. Johnson & Johnson has a 52 week low of $144.95 and a 52 week high of $175.97. The firm has a 50-day simple moving average of $157.07 and a two-hundred day simple moving average of $155.90.

Johnson & Johnson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st will be given a dividend of $1.24 per share. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date of this dividend is Monday, May 20th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.36%. Johnson & Johnson’s dividend payout ratio is currently 34.47%.

Insider Activity at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 59,397 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $156.27, for a total transaction of $9,281,969.19. Following the completion of the transaction, the executive vice president now directly owns 141,416 shares in the company, valued at approximately $22,099,078.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, major shareholder & Johnson Johnson sold 3,725 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $25.81, for a total value of $96,142.25. Following the transaction, the insider now owns 4,099,575 shares of the company’s stock, valued at approximately $105,810,030.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Jennifer L. Taubert sold 59,397 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $156.27, for a total value of $9,281,969.19. Following the transaction, the executive vice president now owns 141,416 shares in the company, valued at approximately $22,099,078.32. The disclosure for this sale can be found here. 0.16% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in JNJ. Moneta Group Investment Advisors LLC boosted its stake in shares of Johnson & Johnson by 90,144.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 54,386,720 shares of the company’s stock valued at $9,607,414,000 after purchasing an additional 54,326,454 shares in the last quarter. Morgan Stanley grew its stake in shares of Johnson & Johnson by 12.0% during the fourth quarter. Morgan Stanley now owns 42,224,521 shares of the company’s stock worth $7,458,962,000 after acquiring an additional 4,521,062 shares during the last quarter. Norges Bank purchased a new stake in shares of Johnson & Johnson during the fourth quarter worth about $4,609,399,000. Legal & General Group Plc grew its stake in shares of Johnson & Johnson by 22.2% during the fourth quarter. Legal & General Group Plc now owns 22,104,221 shares of the company’s stock worth $3,464,617,000 after acquiring an additional 4,021,883 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in Johnson & Johnson by 1.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 18,694,860 shares of the company’s stock worth $2,930,234,000 after acquiring an additional 232,738 shares during the period. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on JNJ shares. Raymond James upped their target price on shares of Johnson & Johnson from $172.00 to $175.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $181.00 target price on shares of Johnson & Johnson in a research note on Wednesday, February 28th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a report on Monday. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 6th. Finally, Morgan Stanley reduced their price target on shares of Johnson & Johnson from $170.00 to $169.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 24th. Seven research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $177.31.

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.