Cantor Fitzgerald Reaffirms “Overweight” Rating for Johnson & Johnson (NYSE:JNJ)

Cantor Fitzgerald reaffirmed their overweight rating on shares of Johnson & Johnson (NYSE:JNJ) in a report published on Wednesday morning, Benzinga reports. They currently have a $215.00 target price on the stock. Cantor Fitzgerald also issued estimates for Johnson & Johnson’s FY2024 earnings at $9.88 EPS.

Other equities analysts also recently issued research reports about the company. TD Cowen reduced their price objective on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. TD Securities reduced their price target on Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. Sanford C. Bernstein upped their price objective on shares of Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. Daiwa America downgraded shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Finally, Wells Fargo & Company increased their price target on shares of Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a research note on Wednesday. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $175.93.

Johnson & Johnson Trading Up 0.4 %

Shares of JNJ opened at $165.13 on Wednesday. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $168.85. The stock has a market cap of $397.41 billion, a PE ratio of 10.29, a price-to-earnings-growth ratio of 2.65 and a beta of 0.52. The firm’s fifty day moving average is $162.98 and its two-hundred day moving average is $154.71. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.21. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The firm had revenue of $22.47 billion for the quarter, compared to analyst estimates of $22.17 billion. During the same period in the previous year, the business posted $2.66 earnings per share. Johnson & Johnson’s quarterly revenue was up 5.2% on a year-over-year basis. Research analysts forecast that Johnson & Johnson will post 10 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently declared 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. This represents a $4.96 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio (DPR) is 30.92%.

Insider Transactions at Johnson & Johnson

In related news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $165.06, for a total value of $930,113.10. Following the sale, the vice president now owns 18,973 shares in the company, valued at approximately $3,131,683.38. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Marshall Wace LLP grew its stake in shares of Johnson & Johnson by 506.9% in the second quarter. Marshall Wace LLP now owns 3,884,962 shares of the company’s stock worth $567,826,000 after acquiring an additional 3,244,862 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Johnson & Johnson by 16.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock worth $3,453,978,000 after purchasing an additional 3,139,499 shares in the last quarter. Ninety One UK Ltd increased its holdings in Johnson & Johnson by 59.0% during the 2nd quarter. Ninety One UK Ltd now owns 6,708,943 shares of the company’s stock worth $980,579,000 after purchasing an additional 2,489,925 shares during the period. Swedbank AB acquired a new stake in Johnson & Johnson in the 1st quarter valued at about $331,178,000. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Johnson & Johnson by 10.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 18,780,645 shares of the company’s stock valued at $2,744,979,000 after buying an additional 1,831,751 shares during the period. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Company Profile

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.