Cantor Fitzgerald Comments on Johnson & Johnson’s FY2024 Earnings (NYSE:JNJ)

Johnson & Johnson (NYSE:JNJ) – Stock analysts at Cantor Fitzgerald dropped their FY2024 EPS estimates for Johnson & Johnson in a note issued to investors on Tuesday, June 25th. Cantor Fitzgerald analyst L. Chen now forecasts that the company will earn $10.47 per share for the year, down from their prior estimate of $10.57. Cantor Fitzgerald has a “Overweight” rating and a $215.00 price objective on the stock. The consensus estimate for Johnson & Johnson’s current full-year earnings is $10.63 per share.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $0.07. The business had revenue of $21.38 billion for the quarter, compared to analysts’ expectations of $21.39 billion. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. The business’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.68 earnings per share.

A number of other research analysts have also recently weighed in on the stock. HSBC upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and lifted their target price for the company from $169.00 to $170.00 in a research note on Thursday, April 18th. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 price target on shares of Johnson & Johnson in a research note on Monday, June 17th. The Goldman Sachs Group initiated coverage on shares of Johnson & Johnson in a research note on Thursday, May 30th. They issued a “neutral” rating and a $160.00 price target on the stock. Morgan Stanley reduced their target price on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 17th. Finally, Bank of America reduced their target price on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $174.07.

Johnson & Johnson Trading Down 0.3 %

Shares of Johnson & Johnson stock opened at $146.81 on Thursday. The company’s fifty day simple moving average is $148.13 and its 200-day simple moving average is $154.24. The stock has a market capitalization of $353.32 billion, a PE ratio of 9.15, a P/E/G ratio of 2.45 and a beta of 0.53. 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 0.36, a current ratio of 1.17 and a quick ratio of 0.94.

Institutional Investors Weigh In On Johnson & Johnson

Several large investors have recently added to or reduced their stakes in JNJ. Christopher J. Hasenberg Inc purchased a new stake in Johnson & Johnson in the 1st quarter valued at about $31,000. Keener Financial Planning LLC purchased a new stake in Johnson & Johnson in the 4th quarter valued at about $40,000. WFA Asset Management Corp boosted its position in Johnson & Johnson by 61.4% in the 4th quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock valued at $40,000 after buying an additional 97 shares during the period. Vermillion & White Wealth Management Group LLC purchased a new stake in Johnson & Johnson in the 4th quarter valued at about $44,000. Finally, Disciplined Equity Management Inc. purchased a new stake in shares of Johnson & Johnson in the 4th quarter worth approximately $45,000. 69.55% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st were issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 3.38%. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date of this dividend was Monday, May 20th. Johnson & Johnson’s dividend payout ratio is presently 30.92%.

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.