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Johnson & Johnson (NYSE:JNJ – Get Rating) updated its FY 2022 earnings guidance on Wednesday. The company provided earnings per share guidance of $10.02-$10.07 for the period, compared to the consensus earnings per share estimate of $10.03. The company issued revenue guidance of $93.00 billion-$93.50 billion, compared to the consensus revenue estimate of $94.85 billion.
Johnson & Johnson Trading Down 0.2 %
Shares of JNJ stock opened at $170.71 on Wednesday. The business’s fifty day moving average price is $165.02 and its 200 day moving average price is $172.36. Johnson & Johnson has a 1-year low of $155.72 and a 1-year high of $186.69. The The firm has a market capitalization of $448.83 billion, a PE ratio of 23.78, a P/E/G ratio of 3.58 and a beta of 0.56. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.42 and a quick ratio of 1.17.
Johnson & Johnson (NYSE:JNJ – Get Rating) last announced its quarterly earnings data on Tuesday, October 18th. The company reported $2.55 earnings per share for the quarter, topping analysts’ consensus estimates of $2.49 by $0.06. Johnson & Johnson had a return on equity of 35.32% and a net margin of 19.95%. The firm had revenue of $23.79 billion for the quarter, compared to analyst estimates of $23.44 billion. During the same quarter in the prior year, the company posted $2.60 earnings per share. Johnson & Johnson’s quarterly revenue was up 1.9% on a year-over-year basis. As a group, sell-side analysts forecast that Johnson & Johnson will post 10.05 EPS for the current fiscal year.
Johnson & Johnson Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 6th. Shareholders of record on Tuesday, November 22nd will be issued a $1.13 dividend. This represents a $4.52 annualized dividend and a yield of 2.65%. The ex- dividend date of this dividend is Monday, November 21st. Johnson & Johnson’s dividend payout ratio (DPR) is 62.95%.
Johnson & Johnson announced that its board has authorized a stock buyback plan on Wednesday, September 14th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 1.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.
Analysts Set New Price Targets
Several research firms have weighed in on JNJ. Raymond James lowered their target price on Johnson & Johnson from $192.00 to $185.00 and set an outperform rating on the stock in a report on Wednesday, October 19th. UBS Group lowered their target price on Johnson & Johnson from $185.00 to $180.00 in a report on Thursday, July 21st. SVB Leerink lowered their target price on Johnson & Johnson from $200.00 to $194.00 in a report on Wednesday, July 20th. StockNews.com started coverage on Johnson & Johnson in a research note on Wednesday, October 12th. They set a strong-buy rating on the stock. Finally, Atlantic Securities decreased their price objective on Johnson & Johnson from $165.00 to $160.00 and set a neutral rating on the stock in a research note on Wednesday, October 19th. Six investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rat ing of Moderate Buy and a consensus target price of $184.25.
Insider Buying and Selling
In related news, VP Peter Fasolo sold 22,864 shares of the stock in a transaction dated Wednesday, October 19th. The stock was sold at an average price of $164.50, for a total transaction of $3,761,128.00. Following the transaction, the vice president now directly owns 114,676 shares in the company, valued at $18,864,202. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.35% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Johnson & Johnson
Large investors have recently modified their holdings of the company. Private Capital Management LLC purchased a new position in shares of Johnson & Johnson in the 1st quarter worth about $213,000. Charles Schwab Investment Advisory Inc. raised its holdings in shares of Johnson & Johnson by 40.6 % in the 1st quarter. Charles Schwab Investment Advisory Inc. now owns 1,862 shares of the company’s stock worth $330,000 after purchasing an additional 538 shares during the period. qPULA Trading Management LP purchased a new position in shares of Johnson & Johnson in the 1st quarter worth about $422,000. KC Investment Advisors LLC raised its holdings in shares of Johnson & Johnson by 21.7% in the 1st quarter. KC Investment Advisors LLC now owns 2,808 shares of the company’s stock worth $498,000 after purchasing an additional 501 shares during the period. Finally , Tatro Capital LLC raised its holdings in shares of Johnson & Johnson by 2.3% in the 1st quarter. Tatro Capital LLC now owns 3,059 sh ares of the company’s stock worth $542,000 after purchasing an additional 69 shares during the period. 68.59% of the stock is currently owned by hedge funds and other institutional investors.
Johnson & Johnson Company Profile
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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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