Leerink Partnrs Weighs in on Johnson & Johnson’s Q3 2024 Earnings (NYSE:JNJ)

Johnson & Johnson (NYSE:JNJ) – Leerink Partnrs raised their Q3 2024 earnings estimates for Johnson & Johnson in a report released on Wednesday, April 17th. Leerink Partnrs analyst D. Risinger now expects that the company will earn $2.66 per share for the quarter, up from their previous estimate of $2.65. The consensus estimate for Johnson & Johnson’s current full-year earnings is $10.65 per share. Leerink Partnrs also issued estimates for Johnson & Johnson’s Q4 2024 earnings at $2.59 EPS, FY2024 earnings at $10.69 EPS, FY2025 earnings at $11.05 EPS and FY2026 earnings at $11.47 EPS.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, beating the consensus estimate of $2.64 by $0.07. The firm had revenue of $21.38 billion during the quarter, compared to the consensus estimate of $21.39 billion. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.43%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.68 earnings per share.

Several other equities analysts have also recently issued reports on the stock. Royal Bank of Canada reduced their price target on shares of Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating on the stock in a research report on Wednesday. Raymond James boosted their price target on shares of Johnson & Johnson from $172.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, January 3rd. Morgan Stanley reduced their price target on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a research report on Wednesday. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 6th. Finally, Bank of America cut their price objective on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Johnson & Johnson presently has an average rating of “Moderate Buy” and a consensus price target of $175.86.

Johnson & Johnson Price Performance

Shares of NYSE JNJ opened at $147.93 on Friday. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $175.97. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.16 and a quick ratio of 0.91. The company’s 50-day moving average is $156.15 and its 200 day moving average is $155.63. The stock has a market capitalization of $356.48 billion, a P/E ratio of 9.22, a P/E/G ratio of 2.39 and a beta of 0.53.

Johnson & Johnson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st will be issued a dividend of $1.24 per share. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date of this dividend is Monday, May 20th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.35%. Johnson & Johnson’s dividend payout ratio is presently 30.92%.

Insider Activity

In other news, EVP Jennifer L. Taubert sold 59,397 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $156.27, for a total transaction of $9,281,969.19. Following the sale, the executive vice president now owns 141,416 shares in the company, valued at $22,099,078.32. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, major shareholder & Johnson Johnson sold 3,725 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $25.81, for a total transaction of $96,142.25. Following the transaction, the insider now owns 4,099,575 shares in the company, valued at $105,810,030.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Jennifer L. Taubert sold 59,397 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $156.27, for a total transaction of $9,281,969.19. Following the transaction, the executive vice president now owns 141,416 shares in the company, valued at approximately $22,099,078.32. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. DORCHESTER WEALTH MANAGEMENT Co raised its position in Johnson & Johnson by 0.6% in the third quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 75,495 shares of the company’s stock worth $11,758,000 after acquiring an additional 414 shares during the period. OneAscent Financial Services LLC raised its position in Johnson & Johnson by 82.8% in the fourth quarter. OneAscent Financial Services LLC now owns 9,838 shares of the company’s stock worth $1,542,000 after acquiring an additional 4,457 shares during the period. TrueMark Investments LLC bought a new position in Johnson & Johnson in the fourth quarter worth approximately $1,458,000. RAM Investment Partners LLC raised its position in Johnson & Johnson by 4.5% in the fourth quarter. RAM Investment Partners LLC now owns 1,688 shares of the company’s stock worth $265,000 after acquiring an additional 73 shares during the period. Finally, RFG Advisory LLC raised its position in Johnson & Johnson by 12.6% in the third quarter. RFG Advisory LLC now owns 18,758 shares of the company’s stock worth $2,921,000 after acquiring an additional 2,102 shares during the period. Institutional investors 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.