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

Johnson & Johnson (NYSE:JNJ) issued its earnings results on Tuesday. The company reported $2.42 EPS for the quarter, beating the consensus estimate of $2.21 by $0.21, Briefing.com reports. 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 during the quarter, compared to the consensus estimate of $22.17 billion. During the same quarter in the prior year, the firm earned $2.66 earnings per share. The business’s quarterly revenue was up 5.2% on a year-over-year basis. Johnson & Johnson updated its FY 2024 guidance to 9.880-9.980 EPS and its FY24 guidance to $9.88-9.98 EPS.

Johnson & Johnson Stock Performance

NYSE JNJ traded up $0.21 on Thursday, reaching $164.49. The stock had a trading volume of 4,798,014 shares, compared to its average volume of 7,035,221. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 0.85. The firm has a fifty day moving average of $162.81 and a two-hundred day moving average of $154.59. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $168.85. The company has a market cap of $395.87 billion, a P/E ratio of 10.25, a price-to-earnings-growth ratio of 2.65 and a beta of 0.52.

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be issued a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio is 30.92%.

Insider Buying and Selling at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the company’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 transaction, the vice president now directly owns 18,973 shares of the company’s stock, valued at $3,131,683.38. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on JNJ. The Goldman Sachs Group lowered their price objective on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a research report on Friday, July 19th. Citigroup increased their price objective on shares of Johnson & Johnson from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday. Daiwa America downgraded shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. TD Cowen lowered their price objective on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Finally, Sanford C. Bernstein increased their target price on shares of Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $175.93.

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.