Johnson & Johnson (NYSE:JNJ) Releases Quarterly Earnings Results, Beats Estimates By $0.20 EPS

Johnson & Johnson (NYSE:JNJ) released its earnings results on Tuesday. The company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.22 by $0.20, Briefing.com reports. The firm had revenue of $22.47 billion for the quarter, compared to the consensus estimate of $22.17 billion. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.66 EPS. 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 1.6 %

Shares of NYSE:JNJ opened at $164.14 on Wednesday. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $168.85. The company has a market capitalization of $395.02 billion, a PE ratio of 10.23, a PEG ratio of 2.65 and a beta of 0.52. The business has a 50 day moving average of $162.70 and a two-hundred day moving average of $154.52. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44.

Johnson & Johnson Announces Dividend

The business also recently declared 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%. Johnson & Johnson’s payout ratio is presently 30.92%.

Insider Buying and Selling at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 18,973 shares of the company’s stock, valued at approximately $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 SEC, which can be accessed through this link. 0.16% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Morgan Stanley increased their price target on Johnson & Johnson from $167.00 to $169.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a research note on Thursday, October 10th. TD Securities dropped their price target on Johnson & Johnson from $195.00 to $185.00 in a research note on Thursday, July 18th. The Goldman Sachs Group dropped their price target on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research note on Friday, July 19th. Finally, Royal Bank of Canada boosted their price target on Johnson & Johnson from $175.00 to $178.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Six analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $174.31.

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.