Johnson & Johnson (NYSE:JNJ) Issues Earnings Results, Beats Estimates By $0.22 EPS

Johnson & Johnson (NYSE:JNJ) released its quarterly earnings results on Tuesday. The company reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.22, MarketWatch Earnings reports. The firm had revenue of $21.08 billion for the quarter, compared to the consensus estimate of $20.15 billion. Johnson & Johnson had a return on equity of 35.21% and a net margin of 22.69%. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.12 EPS. Johnson & Johnson updated its FY 2020
Pre-Market guidance to 7.95-8.05 EPS and its FY20 guidance to $7.95-8.05 EPS.

JNJ opened at $148.36 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.25 and a quick ratio of 0.99. The business has a 50 day simple moving average of $148.82 and a 200-day simple moving average of $146.21. The stock has a market capitalization of $390.61 billion, a P/E ratio of 21.69, a P/E/G ratio of 3.26 and a beta of 0.68. Johnson & Johnson has a 12 month low of $109.16 and a 12 month high of $157.00.

A number of research analysts recently issued reports on JNJ shares. Independent Research upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and raised their price target for the stock from $161.00 to $164.00 in a research note on Monday, July 20th. Cantor Fitzgerald raised their price target on Johnson & Johnson from $168.00 to $180.00 and gave the stock an “overweight” rating in a research note on Wednesday. Citigroup raised their price target on Johnson & Johnson from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Friday, July 17th. Raymond James raised their price target on Johnson & Johnson from $157.00 to $158.00 and gave the stock an “outperform” rating in a research note on Friday, July 17th. Finally, Bank of America reiterated a “buy” rating on shares of Johnson & Johnson in a research note on Monday, July 20th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $164.93.

In related news, EVP Ashley Mcevoy sold 29,000 shares of Johnson & Johnson stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $147.47, for a total transaction of $4,276,630.00. Following the completion of the transaction, the executive vice president now directly owns 21,682 shares of the company’s stock, valued at $3,197,444.54. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Kathryn E. Wengel sold 16,115 shares of Johnson & Johnson stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $153.52, for a total value of $2,473,974.80. Following the transaction, the executive vice president now directly owns 66,658 shares of the company’s stock, valued at $10,233,336.16. The disclosure for this sale can be found here. 0.27% of the stock is owned by company insiders.

Johnson & Johnson Company Profile

Johnson & Johnson researches and develops, manufactures, and sells various products in the health care field worldwide. It operates in three segments: Consumer, Pharmaceutical, and Medical Devices. The Consumer segment offers baby care products under the JOHNSON'S brand; oral care products under the LISTERINE brand; beauty products under the AVEENO, CLEAN & CLEAR, DR.

Read More: Why are analyst ratings important in trading stocks?

Earnings History for Johnson & Johnson (NYSE:JNJ)

Receive News & Ratings for Johnson & Johnson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Johnson & Johnson and related companies with MarketBeat.com's FREE daily email newsletter.