Johnson & Johnson (NYSE:JNJ) Announces Earnings Results

Johnson & Johnson (NYSE:JNJ) released its earnings results on Tuesday. The company reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates 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 45.26% and a return on equity of 36.43%. The business’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.68 EPS. 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 Price Performance

JNJ opened at $145.74 on Friday. Johnson & Johnson has a one year low of $143.13 and a one year high of $175.97. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.16 and a quick ratio of 0.91. The company’s 50 day simple moving average is $156.32 and its 200-day simple moving average is $155.68. The stock has a market capitalization of $351.20 billion, a P/E ratio of 9.09, a price-to-earnings-growth ratio of 2.39 and a beta of 0.53.

Johnson & Johnson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st will be paid a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 3.40%. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date is Monday, May 20th. Johnson & Johnson’s dividend payout ratio is currently 29.68%.

Analysts Set New Price Targets

A number of research analysts have weighed in on JNJ shares. Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research report on Monday. Raymond James upped their price objective on shares of Johnson & Johnson from $172.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, January 3rd. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 6th. Bank of America cut their price objective on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, Morgan Stanley lowered their target price on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $175.86.

Insider Activity

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

Hedge Funds Weigh In On Johnson & Johnson

Several large investors have recently bought and sold shares of the business. SageView Advisory Group LLC raised its holdings in Johnson & Johnson by 98.3% in the fourth quarter. SageView Advisory Group LLC now owns 19,359 shares of the company’s stock worth $3,074,000 after purchasing an additional 9,597 shares during the period. Harbour Investments Inc. raised its holdings in Johnson & Johnson by 4.1% in the fourth quarter. Harbour Investments Inc. now owns 26,057 shares of the company’s stock worth $4,084,000 after purchasing an additional 1,025 shares during the period. Aspect Partners LLC acquired a new stake in Johnson & Johnson in the fourth quarter worth $91,000. GSA Capital Partners LLP raised its holdings in Johnson & Johnson by 160.7% in the fourth quarter. GSA Capital Partners LLP now owns 7,308 shares of the company’s stock worth $1,145,000 after purchasing an additional 4,505 shares during the period. Finally, Mercer Global Advisors Inc. ADV lifted its position in Johnson & Johnson by 17.4% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 545,944 shares of the company’s stock valued at $85,571,000 after acquiring an additional 80,822 shares in the last quarter. 69.55% of the stock is currently owned by institutional investors and hedge funds.

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.