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.
Analyst Ratings Changes
Several analysts have recently issued reports on the stock. Wells Fargo & Company lifted their target price on shares of Johnson & Johnson from $190.00 to $195.00 and gave the company an overweight rating in a research report on Wednesday, July 13th. StockNews.com assumed coverage on shares of Johnson & Johnson in a research report on Wednesday, October 12th. They issued a strong-buy rating on the stock. Morgan Stanley dropped their target price on shares of Johnson & Johnson from $174.00 to $170.00 and set an equal weight rating on the stock in a research report on Wednesday, October 19th. Sanford C. Bernstein dropped their target price on shares of Johnson & Johnson from $194.00 to $190.00 in a research report on Wednesday, October 19th. Finally, 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. Six equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $184.25.
Johnson & Johnson Stock Performance
JNJ stock traded down $1.67 on Wednesday, hitting $171.42. The company’s stock had a trading volume of 107,503 shares, compared to its average volume of 6,579,985. The firm has a 50 day moving average of $165.61 and a two-hundred day moving average of $172.12. Johnson & Johnson has a 1 year low of $155.72 and a 1 year high of $186.69. The stock has a market cap of $448.17 billion, a price-to-earnings ratio of 24.11, a price-to-earnings-growth ratio of 3.71 and a beta of 0.56. The company has a current ratio of 1.43, a quick ratio of 1.18 and a debt-to-equity ratio of 0.37.
Johnson & Johnson (NYSE:JNJ – Get Rating) last posted its quarterly earnings results 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. The business had revenue of $23.79 billion for the quarter, compared to analysts’ expectations of $23.44 billion. Johnson & Johnson had a net margin of 19.95% and a return on equity of 35.37%. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the prior year, the company posted $2.60 EPS. Equities analysts predict that Johnson & Johnson will post 10.04 EPS for the current fiscal year.
Johnson & Johnson Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 6th. Investors of record on Tuesday, November 22nd will be paid a $1.13 dividend. The ex-dividend date is Monday, November 21st. This represents a $4.52 dividend on an annualized basis and a yield of 2.64%. Johnson & Johnson’s payout ratio is 62.95%.
Johnson & Johnson announced that its Board of Directors has approved a share buyback plan on Wednesday, September 14th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 1.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are undervalued.
Insider Activity at Johnson & Johnson
In other Johnson & Johnson news, insider William Hait sold 15,000 shares of the company’s stock in a transaction dated Monday, October 24th. The shares were sold at an average price of $171.55, for a total value of $2,573,250.00. Following the transaction, the insider now directly owns 80,236 shares in the company, valued at approximately $13,764,485.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Johnson & Johnson news, VP Peter Fasolo sold 29,275 shares of the company’s stock in a transaction dated Monday, October 24th. The shares were sold at an average price of $171.36, for a total value of $5,016,564.00. Following the transaction, the vice president now directly owns 114,676 shares in the company, valued at approximately $19,650,879.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider William Hait sold 15,000 shares of the company’s stock in a transaction dated Monday, October 24th. The shares were sold at an average price of $171.55, for a total transaction of $2,573,250.00. Following the completion of the transaction, the insider now owns 80,236 shares in the company, valued at $13,764,485.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,139 shares of company stock valued at $11,350,942. Insiders own 0.35% of the company’s stock.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of the stock. Morgan Dempsey Capital Management LLC lifted its holdings in shares of Johnson & Johnson by 2.8% during the 2nd quarter. Morgan Dempsey Capital Management LLC now owns 47,554 shares of the company’s stock worth $8,441,000 after acquiring an additional 1,284 shares during the period. First Command Bank lifted its holdings in shares of Johnson & Johnson by 1.6% during the 2nd quarter. First Command Bank now owns 15,988 shares of the company’s stock worth $2,838,000 after acquiring an additional 245 shares during the period. Range Financial Group LLC purchased a new position in shares of Johnson & Johnson during the 1st quarter worth about $651,000. Wealthfront Advisers LLC raised its holdings in Johnson & Johnson by 6.0% in the first quarter. Wealthfront Advisers LLC now owns 157,094 shares of the company’s stock valued at $27,842,000 after buying an additional 8,882 shares during the period. Finally, Continuum Advisory LLC raised its holdings in Johnson & Johnson by 15.2% in the first quarter. Continuum Advisory LLC now owns 13,514 shares of the company’s stock valued at $2,439,000 after buying an additional 1,786 shares during the period. 68.59% of the stock is currently owned by hedge funds and other institutional investors.
About Johnson & Johnson
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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