Johnson & Johnson (NYSE:JNJ) Announces Quarterly Earnings Results

Johnson & Johnson (NYSE:JNJ) released its quarterly 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 business had revenue of $21.38 billion during the quarter, compared to analyst estimates of $21.39 billion. Johnson & Johnson had a return on equity of 36.43% and a net margin of 45.26%. Johnson & Johnson’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $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 Performance

NYSE JNJ opened at $144.77 on Thursday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.16 and a quick ratio of 0.91. Johnson & Johnson has a 1 year low of $143.39 and a 1 year high of $175.97. The company has a market capitalization of $348.86 billion, a PE ratio of 9.03, a P/E/G ratio of 2.40 and a beta of 0.53. The company has a fifty day moving average of $156.54 and a two-hundred day moving average of $155.74.

Johnson & Johnson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st will be paid a dividend of $1.24 per share. The ex-dividend date is Monday, May 20th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.43%. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s payout ratio is presently 29.68%.

Insider Buying and Selling at Johnson & Johnson

In other news, major shareholder & Johnson Johnson sold 3,725 shares of the company’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 completion of the sale, the insider now directly owns 4,099,575 shares of the company’s stock, valued at $105,810,030.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Johnson & Johnson news, 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 transaction, the executive vice president now directly owns 141,416 shares of the company’s stock, valued at $22,099,078.32. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 transaction of $96,142.25. Following the completion of the sale, the insider now owns 4,099,575 shares in the company, valued at $105,810,030.75. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by insiders.

Institutional Trading of Johnson & Johnson

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SageView Advisory Group LLC increased its position in Johnson & Johnson by 98.3% during 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 last quarter. Harbour Investments Inc. boosted its stake in Johnson & Johnson by 4.1% during the 4th quarter. Harbour Investments Inc. now owns 26,057 shares of the company’s stock valued at $4,084,000 after acquiring an additional 1,025 shares during the last quarter. Aspect Partners LLC bought a new position in shares of Johnson & Johnson in the 4th quarter worth about $91,000. GSA Capital Partners LLP lifted its position in shares of Johnson & Johnson by 160.7% in the 4th quarter. GSA Capital Partners LLP now owns 7,308 shares of the company’s stock worth $1,145,000 after buying an additional 4,505 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its position in shares of Johnson & Johnson by 17.4% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 545,944 shares of the company’s stock worth $85,571,000 after buying an additional 80,822 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on JNJ shares. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 6th. Raymond James increased their price target on Johnson & Johnson from $172.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday, January 3rd. Bank of America reduced their price target on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research note on Monday. Finally, Royal Bank of Canada dropped their price objective on Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating on the stock in a research note on Wednesday. Eight investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $176.36.

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.