Q3 2024 Earnings Estimate for Johnson & Johnson (NYSE:JNJ) Issued By Leerink Partnrs

Johnson & Johnson (NYSE:JNJ) – Stock analysts at Leerink Partnrs upped their Q3 2024 earnings estimates for shares of Johnson & Johnson in a research note issued to investors on Wednesday, April 17th. Leerink Partnrs analyst D. Risinger now expects that the company will post earnings per share of $2.66 for the quarter, up from their prior estimate of $2.65. The consensus estimate for Johnson & Johnson’s current full-year earnings is $10.65 per share. Leerink Partnrs also issued estimates for Johnson & Johnson’s Q4 2024 earnings at $2.59 EPS, FY2024 earnings at $10.69 EPS, FY2025 earnings at $11.05 EPS and FY2026 earnings at $11.47 EPS.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.64 by $0.07. The company had revenue of $21.38 billion for the quarter, compared to the consensus estimate of $21.39 billion. Johnson & Johnson had a return on equity of 36.43% and a net margin of 45.26%. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.68 earnings per share.

Other equities analysts have also issued reports about the stock. Raymond James lifted their price target on shares of Johnson & Johnson from $172.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday, January 3rd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research report on Monday. Bank of America lowered their price target on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a report on Wednesday. Royal Bank of Canada decreased their price objective on shares of Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Morgan Stanley reduced their target price on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a research note on Wednesday. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $175.86.

Johnson & Johnson Trading Up 0.7 %

NYSE JNJ opened at $145.74 on Friday. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $175.97. The company has a 50 day moving average price of $156.32 and a 200 day moving average price of $155.68. 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 firm has a market cap of $351.20 billion, a PE ratio of 9.09, a price-to-earnings-growth ratio of 2.39 and a beta of 0.53.

Institutional Trading of Johnson & Johnson

A number of institutional investors have recently bought and sold shares of JNJ. Moneta Group Investment Advisors LLC boosted its holdings in Johnson & Johnson by 90,144.4% in 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. Norges Bank purchased a new stake in shares of Johnson & Johnson during the 4th quarter worth approximately $4,609,399,000. Morgan Stanley boosted its holdings in shares of Johnson & Johnson by 12.0% in the 4th quarter. Morgan Stanley now owns 42,224,521 shares of the company’s stock valued at $7,458,962,000 after buying an additional 4,521,062 shares in the last quarter. Barclays PLC raised its stake in Johnson & Johnson by 61.0% during the 2nd quarter. Barclays PLC now owns 11,287,765 shares of the company’s stock worth $1,868,351,000 after acquiring an additional 4,278,512 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in Johnson & Johnson by 22.2% in the fourth quarter. Legal & General Group Plc now owns 22,104,221 shares of the company’s stock valued at $3,464,617,000 after acquiring an additional 4,021,883 shares during the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, major shareholder & Johnson Johnson sold 3,725 shares of the firm’s 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 completion of the transaction, the insider now owns 4,099,575 shares of the company’s stock, valued at $105,810,030.75. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, major shareholder & Johnson Johnson sold 3,725 shares of Johnson & Johnson stock in a transaction on Friday, February 16th. The stock was sold at an average price of $25.81, for a total value of $96,142.25. Following the completion of the transaction, the insider now directly owns 4,099,575 shares in the company, valued at $105,810,030.75. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Jennifer L. Taubert sold 59,397 shares of the stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 141,416 shares in the company, valued at approximately $22,099,078.32. The disclosure for this sale can be found here. Insiders own 0.16% of the company’s stock.

Johnson & Johnson Increases Dividend

The company also recently declared 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 dividend on an annualized basis and a yield of 3.40%. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date of this dividend is Monday, May 20th. Johnson & Johnson’s dividend payout ratio is 29.68%.

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.