Johnson & Johnson (NYSE:JNJ) Posts Quarterly Earnings Results, Beats Estimates By $0.21 EPS

Johnson & Johnson (NYSE:JNJ) posted its earnings results on Tuesday. The company reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.21, Briefing.com reports. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The firm had revenue of $22.47 billion for the quarter, compared to analysts’ expectations of $22.17 billion. During the same period in the previous year, the firm earned $2.66 earnings per share. The business’s revenue was up 5.2% compared to the same quarter last year. 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 Trading Up 0.1 %

Shares of NYSE:JNJ opened at $164.47 on Thursday. The company has a market cap of $395.83 billion, a P/E ratio of 10.24, a PEG ratio of 2.65 and a beta of 0.52. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 0.85. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $168.85. The stock’s fifty day moving average price is $162.81 and its 200-day moving average price is $154.59.

Johnson & Johnson Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Citigroup boosted their target price on Johnson & Johnson from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a research report on Wednesday. Daiwa Capital Markets lowered Johnson & Johnson from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $160.00 to $150.00 in a research report on Tuesday, July 23rd. Finally, Wells Fargo & Company lifted their price target on Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a research report on Wednesday. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $175.93.

Insider Activity

In related 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 transaction of $930,113.10. Following the completion of the sale, the vice president now owns 18,973 shares in the company, valued at approximately $3,131,683.38. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.16% 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.