Research Analysts Offer Predictions for Johnson & Johnson’s FY2024 Earnings (NYSE:JNJ)

Johnson & Johnson (NYSE:JNJ) – Analysts at Leerink Partnrs dropped their FY2024 EPS estimates for shares of Johnson & Johnson in a report released on Wednesday, October 16th. Leerink Partnrs analyst D. Risinger now expects that the company will post earnings per share of $9.91 for the year, down from their prior estimate of $10.06. The consensus estimate for Johnson & Johnson’s current full-year earnings is $10.00 per share. Leerink Partnrs also issued estimates for Johnson & Johnson’s Q4 2024 earnings at $1.96 EPS, FY2025 earnings at $10.11 EPS and FY2026 earnings at $10.23 EPS.

A number of other analysts have also recently weighed in on the stock. Citigroup raised their price objective on shares of Johnson & Johnson from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday. Sanford C. Bernstein lifted their price target on shares of Johnson & Johnson from $161.00 to $171.00 in a research note on Thursday, July 18th. Royal Bank of Canada upped their price objective on shares of Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a research note on Wednesday. TD Cowen cut their target price 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. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research report on Wednesday. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.93.

Johnson & Johnson Price Performance

JNJ stock opened at $164.28 on Thursday. The business has a 50 day moving average price of $162.81 and a 200 day moving average price of $154.59. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. The stock has a market cap of $395.37 billion, a price-to-earnings ratio of 10.24, a PEG ratio of 2.65 and a beta of 0.52. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $168.85.

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, beating analysts’ consensus estimates of $2.21 by $0.21. The company had revenue of $22.47 billion for the quarter, compared to analysts’ expectations of $22.17 billion. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. Johnson & Johnson’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period last year, the firm earned $2.66 earnings per share.

Johnson & Johnson Announces Dividend

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

Insider Buying and Selling at Johnson & Johnson

In other news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction dated Friday, August 30th. The shares were 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 of the company’s stock, valued at $3,131,683.38. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.16% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Johnson & Johnson

A number of hedge funds have recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new stake in shares of Johnson & Johnson in the second quarter valued at approximately $27,000. MFA Wealth Advisors LLC purchased a new stake in shares of Johnson & Johnson during the 2nd quarter worth $43,000. Fairfield Financial Advisors LTD acquired a new position in shares of Johnson & Johnson during the 2nd quarter worth $46,000. Fairway Wealth LLC increased its holdings in shares of Johnson & Johnson by 217.1% in the 2nd quarter. Fairway Wealth LLC now owns 333 shares of the company’s stock valued at $49,000 after purchasing an additional 228 shares in the last quarter. Finally, Quarry LP acquired a new stake in shares of Johnson & Johnson in the second quarter valued at about $49,000. 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.