Cantor Fitzgerald Analysts Increase Earnings Estimates for Johnson & Johnson (NYSE:JNJ)

Johnson & Johnson (NYSE:JNJ) – Equities research analysts at Cantor Fitzgerald upped their FY2024 earnings per share estimates for Johnson & Johnson in a note issued to investors on Wednesday, April 17th. Cantor Fitzgerald analyst L. Chen now forecasts that the company will earn $10.57 per share for the year, up from their previous estimate of $10.55. Cantor Fitzgerald has a “Overweight” rating and a $215.00 price target on the stock. The consensus estimate for Johnson & Johnson’s current full-year earnings is $10.65 per share.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 36.43% and a net margin of 45.26%. The business’s revenue was up 2.3% compared to the same quarter last year. During the same period last year, the company earned $2.68 earnings per share.

Other research analysts also recently issued reports about the company. HSBC upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and raised their price target for the company from $169.00 to $170.00 in a research note on Thursday. Bank of America cut their price objective on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday. Morgan Stanley cut their price objective on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a research report on Wednesday. Royal Bank of Canada cut their price objective on Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 6th. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $175.86.

Johnson & Johnson Stock Up 0.7 %

JNJ stock opened at $145.74 on Friday. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.38. The business has a 50 day moving average price of $156.32 and a two-hundred day moving average price of $155.68. The company has a market cap of $351.20 billion, a price-to-earnings ratio of 9.09, a P/E/G ratio of 2.39 and a beta of 0.53. Johnson & Johnson has a twelve month low of $143.13 and a twelve month high of $175.97.

Johnson & Johnson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st will be issued a $1.24 dividend. The ex-dividend date is Monday, May 20th. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 annualized dividend and a yield of 3.40%. Johnson & Johnson’s payout ratio is currently 29.68%.

Insider Buying and Selling at Johnson & Johnson

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

Hedge Funds Weigh In On Johnson & Johnson

Several hedge funds and other institutional investors have recently modified their holdings of JNJ. DORCHESTER WEALTH MANAGEMENT Co increased its stake in shares of Johnson & Johnson by 8.6% in the 1st quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 67,618 shares of the company’s stock valued at $14,975,000 after purchasing an additional 5,327 shares during the last quarter. Cantor Fitzgerald Investment Advisor L.P increased its stake in shares of Johnson & Johnson by 88.9% in the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 175,194 shares of the company’s stock valued at $31,049,000 after purchasing an additional 82,429 shares during the last quarter. AMI Investment Management Inc. increased its stake in shares of Johnson & Johnson by 8.8% in the 1st quarter. AMI Investment Management Inc. now owns 18,305 shares of the company’s stock valued at $3,244,000 after purchasing an additional 1,475 shares during the last quarter. Equitable Holdings Inc. increased its stake in shares of Johnson & Johnson by 4.9% in the 1st quarter. Equitable Holdings Inc. now owns 45,673 shares of the company’s stock valued at $8,095,000 after purchasing an additional 2,119 shares during the last quarter. Finally, USS Investment Management Ltd grew its position in Johnson & Johnson by 2.4% during the 1st quarter. USS Investment Management Ltd now owns 860,371 shares of the company’s stock worth $152,488,000 after acquiring an additional 20,528 shares during the last quarter. 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.