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

Johnson & Johnson (NYSE:JNJ) announced its earnings results on Tuesday. The company reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.21, Briefing.com reports. The company had revenue of $22.47 billion during 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 revenue for the quarter was up 5.2% on a year-over-year basis. During the same period last year, the business 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 Stock Performance

Shares of JNJ traded up $0.19 during mid-day trading on Thursday, reaching $164.47. 4,757,662 shares of the company’s stock were exchanged, compared to its average volume of 7,035,020. The business’s fifty day simple moving average is $162.81 and its 200-day simple moving average is $154.59. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $168.85. The stock has a market capitalization of $395.83 billion, a PE ratio of 10.26, a price-to-earnings-growth 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 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 paid 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 currently 30.92%.

Wall Street Analysts Forecast Growth

JNJ has been the subject of several research reports. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 14th. The Goldman Sachs Group cut their price target on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. Morgan Stanley boosted their price objective on Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a report on Wednesday. Finally, Royal Bank of Canada boosted their price target on shares of Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a report on Wednesday. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.93.

Insider Buying and Selling

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson 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 transaction, the vice president now directly owns 18,973 shares in the company, valued at approximately $3,131,683.38. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.16% of the stock is owned by company insiders.

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.