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Johnson & Johnson (NYSE:JNJ – Get Rating) – Equities research analysts at SVB Leerink lowered their Q3 2022 earnings per share (EPS) estimates for shares of Johnson & Johnson in a research note issued to investors on Wednesday, October 12th. SVB Leerink D. Risinger now anticipates that the company will post earnings per share of $2.50 for the quarter, down from their prior forecast of $2.71. The consensus estimate for Johnson & Johnson’s current full-year earnings is $10.10 per share. SVB Leerink also issued estimates for Johnson & Johnson’s FY2022 earnings at $9.82 EPS and Q3 2023 earnings at $2.84 EPS.
Johnson & Johnson (NYSE:JNJ – Get Rating) last issued its quarterly earnings results on Tuesday, July 19th. The company reported $2.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.57 by $0.02. Johnson & Johnson had a net margin of 19.21% and a return on equity of 36.14%. The company had revenue of $24.02 billion during the quarter, compared to the consensus estimate of $23.85 billion. During the same quarter in the previous year, the firm earned $2.48 earnings per share. The firm’s quarterly revenue was up 3.0% on a year-over-year basis.
Several other research analysts have also recently issued reports on JNJ. Morgan Stanley upped their price objective on Johnson & Johnson from $173.00 to $174.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Daiwa Capital Markets started coverage on shares of Johnson & Johnson in a research report on Wednesday, June 22nd. They set an “outperform” rating for the company. UBS Group dropped their target price on shares of Johnson & Johnson from $185.00 to $180.00 in a research report on Thursday, July 21st . Wells Fargo & Company upped their price objective on shares of Johnson & Johnson from $190.00 to $195.00 and gave the company an “overweight” rating in a research note on Wednesday, July 13th. Finally, StockNews.com initiated coverage on Johnson & Johnson in a research report on Wednesday. They set a “strong-buy” rating on the stock. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a st rong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $189.56.
Johnson & Johnson Stock Performance
Shares of JNJ stock opened at $162.69 on Thursday. Johnson & Johnson has a 12 month low of $155.72 and a 12 month high of $186.69. The company has a current ratio of 1.42, a quick ratio of 1.17 and a debt-to-equity ratio of 0.37. The company has a market cap of $427.74 billion, a P/E ratio of 23.68, a PEG ratio of 3.03 and a beta of 0.56. The firm has a fifty day moving average price of $165.38 and a 200 day moving average price of $173.17.
Hedge Funds Weigh In On Johnson & Johnson
Several institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new stake in Johnson & Johnson in the fourth quarter valued at $4,172,929,000. BlackRock Inc. boosted its holdings in Johnson & Johnson by 2.6% during the fourth quarter. BlackRock Inc. now owns 200,021,352 shares of the company’s stock worth $34,217,654,000 after buying an additional 4,982,885 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Johnson & Johnson by 18.9% during the second quarter. Price T Rowe Associates Inc. . MD now owns 24,622,795 shares of the company’s stock worth $4,370,793,000 after buying an additional 3,912,430 shares during the period. Vanguard Group Inc. increased its holdings in Johnson & Johnson by 1.4% in the first quarter. Vanguard Group Inc. now owns 238,141,110 shares of the company’s stock valued at $42,205,749,000 after buying an additional 3,358,478 shares in the last quarter. Finally, FMR LLC boosted its stake in s hares of Johnson & Johnson by 20.8% during the 2nd quarter. FMR LLC now owns 18,725,049 shares of the company’s stock worth $3,323,883,000 after acquiring an additional 3,229,032 shares in the last quarter. 68.59% of the stock is owned by institutional investors and hedge funds.
Johnson & Johnson Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Tuesday, August 23rd were paid a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a dividend yield of 2.78%. The ex-dividend date was Monday, August 22nd. Johnson & Johnson’s dividend payout ratio (DPR) is presently 65.79%.
Johnson & Johnson declared that its Board of Directors has initiated a stock repurchase program on Wednesday, September 14th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to purchase up to 1.2% of its shares through open market purchases . Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.
About Johnson & Johnson
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Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the healthcare field worldwide. The company’s Consumer Health segment offers baby care products under the JOHNSON’S and AVEENO Baby brands; oral care products under the LISTERINE brand; skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR.
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