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

Johnson & Johnson (NYSE:JNJ) announced its quarterly 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. The business had revenue of $22.47 billion during 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 quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the firm 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 0.2 %

NYSE:JNJ traded up $0.28 during mid-day trading on Thursday, hitting $164.56. 3,585,287 shares of the company’s stock were exchanged, compared to its average volume of 7,029,188. 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 has a fifty-two week low of $143.13 and a fifty-two week high of $168.85. The company has a 50 day simple moving average of $162.81 and a 200-day simple moving average of $154.59. The firm has a market capitalization of $396.04 billion, a P/E ratio of 10.26, a PEG ratio of 2.65 and a beta of 0.52.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be paid a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 3.01%. The ex-dividend date is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

Insider Activity

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $165.06, for a total transaction of $930,113.10. Following 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on JNJ shares. Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a report on Wednesday. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. Daiwa America downgraded shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. TD Securities dropped their target price on shares of Johnson & Johnson from $195.00 to $185.00 in a research report on Thursday, July 18th. Finally, Citigroup increased their price target on shares of Johnson & Johnson from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $175.93.

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.