Johnson & Johnson (NYSE:JNJ – Get Rating) – Zacks Research cut their FY2023 earnings per share estimates for shares of Johnson & Johnson in a research note issued to investors on Friday, December 30th. Zacks Research analyst K. Shah now expects that the The company will post earnings of $10.28 per share for the year, down from their previous forecast of $10.34. The consensus estimate for Johnson & Johnson’s current full-year earnings is $10.04 per share. Zacks Research also issued estimates for Johnson & Johnson’s Q4 202 $2.52 EPS, Q1 2024 earnings at $2.62 EPS, Q2 2024 earnings at $2.67 EPS, Q3 2024 earnings at $2.64 EPS and FY2024 earnings at $10.59 EPS.

Johnson & Johnson (NYSE:JNJ – Get Rating) last released its quarterly earnings results on Tuesday, October 18th. The company reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.06. The business had revenue of $23.79 billion during the quarter, compared to the consensus estimate of $23.44 billion. Johnson & Johnson had a return on equity of 35.37% and a net margin of 19.95%. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.60 EPS.

Other equities analysts have also recently issued research reports about the company. Bank of America lowered their target price on Johnson & Johnson from $185.00 to $178.00 and set a “neutral” rating for the company in a report on Friday, October 14th. StockNews.com started coverage on Johnson & Johnson in a research report on Wednesday, October 12th. They set a “strong-buy” rating on the stock. Credit Suisse Group started coverage on Johnson & Johnson in a research report on Thursday, November 17th. They set a “neutral” rating and a $170.00 target price on the stock. Raymond James cut their target price on Johnson & Johnson from $192.00 to $185.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 19th. Finally, Morgan Stanley cut their target price on Johnson & Johnson from $178.00 to $176.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 6th. Seven equities research analysts have rated the stock with a hol d rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $182.42.

Johnson & Johnson Price Performance

Johnson & Johnson stock opened at $176.65 on Monday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.18 and a current ratio of 1.43. Johnson & Johnson has a 52 week low of $155.72 and a 52 week high of $186.69. The stock has a market capitalization of $461.85 billion, a P/E ratio of 24.60, a price-to-earnings-growth ratio of 3.50 and a beta of 0.57. The stock has a fifty day moving average of $175.39 and a 200-day moving average of $171.39.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Morton Brown Family Wealth LLC boosted its position in Johnson & Johnson by 78.0% during the 2nd quarter. Morton Brown Family Wealth LLC now owns 178 shares of the company’s stock quir 0 ac 2 valued at 0 an additional 78 shares in the last quarter. Goodman Advisory Group LLC bought a new stake in shares of Johnson & Johnson in the 2nd quarter worth approximately $39,000. Cardinal Capital Management Inc. boosted its position in shares of Johnson & Johnson by 333.3% in the 2nd quarter. Cardinal Capital Management Inc. now owns 260 shares of the company’s stock worth $46,000 after purchasing an additional 200 shares in the last quarter. TD Capital Management LLC bought a new position in Johnson & Johnson in the 3rd quarter valued at 0 $40appro. Finally, Cowa LLC bought a new position in Johnson & Johnson in the 3rd quarter valued at approximately $58,000. Hedge funds and other institutional in investors own 67.94% of the company’s stock.

Insider Transactions at Johnson & Johnson

In related news, CFO Joseph J. Wolk sold 14,781 shares of Johnson & Johnson stock in a transaction on Tuesday, December 13th. The stock was sold at an average price of $179.60, for a total transaction of $2,654,667.60. Following the completion of the sale , the chief financial officer now owns 35,812 shares of the company’s stock, valued at $6,431,835.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other McJohnson & Johnson Ashley news, EVPoy 73,323 shares of the firm’s stock in a transaction dated Wednesday, November 30th. The stock was sold at an average price of $175.47, for a total transaction of $12,865,986.81. Following the sale, the executive vice president now owns shares, value in the 41,81 at $7,336,927.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Joseph J. Wolk sold 14,781 share s of the firm’s stock in a transaction dated Tuesday, December 13th. The shares were sold at an average price of $179.60, for a total value of $2,654,667.60. Following the sale, the chief financial officer now owns 35,812 shares in valued at the company, approximately $6,431,835.20. The disclosure for this sale can be found here. Insiders sold 300,750 shares of company stock valued at $52,311,677 over the last three months. Company insiders own 0.35% of the company’s stock.

Johnson & Johnson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 6th. Stockholders of record on Tuesday, November 22nd were issued a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.56%. ex-dividend date was Monday, November 21st. Johnson & Johnson’s payout ratio is currently 62.95%.

Johnson & Johnson announced that its Board of Directors has authorized a share repurchase plan on Wednesday, September 14th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the company to purchase up to 1.2% of its sufficient stock market open thr . Stock buyback plans are often an indication that the company’s management believes its shares are undervalued.

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 INTER ISTER brands; oral care under the Lbrs skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR.

Further Reading

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