Johnson & Johnson (JNJ) Posts Quarterly Earnings Results, Beats Estimates By $0.10 EPS
Johnson & Johnson (NYSE:JNJ) released its quarterly earnings results on Tuesday. The company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.10, Bloomberg Earnings reports. The business had revenue of $19.65 billion during the quarter, compared to the consensus estimate of $19.29 billion. Johnson & Johnson had a return on equity of 27.68% and a net margin of 21.28%. The business’s revenue was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.68 EPS. Johnson & Johnson updated its FY17 guidance to $7.25-7.30 EPS.
Shares of Johnson & Johnson (JNJ) opened at 140.68 on Thursday. The stock has a market cap of $377.58 billion, a PE ratio of 23.80 and a beta of 0.78. The firm has a 50-day moving average price of $133.17 and a 200 day moving average price of $130.54. Johnson & Johnson has a 12-month low of $109.32 and a 12-month high of $141.58.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Tuesday, November 28th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend is Monday, November 27th. Johnson & Johnson’s dividend payout ratio (DPR) is 58.33%.
In related news, VP Paulus Stoffels sold 102,692 shares of the stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $133.14, for a total value of $13,672,412.88. Following the completion of the sale, the vice president now directly owns 230,342 shares of the company’s stock, valued at approximately $30,667,733.88. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.19% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Johnson & Johnson by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 200,450,985 shares of the company’s stock worth $26,517,661,000 after acquiring an additional 3,023,110 shares in the last quarter. BlackRock Inc. lifted its stake in Johnson & Johnson by 2.6% in the 2nd quarter. BlackRock Inc. now owns 174,073,764 shares of the company’s stock worth $23,028,219,000 after acquiring an additional 4,332,612 shares in the last quarter. State Street Corp lifted its stake in Johnson & Johnson by 4.3% in the 1st quarter. State Street Corp now owns 160,223,321 shares of the company’s stock worth $19,955,806,000 after acquiring an additional 6,656,371 shares in the last quarter. FMR LLC lifted its stake in Johnson & Johnson by 5.9% in the 2nd quarter. FMR LLC now owns 27,237,648 shares of the company’s stock worth $3,603,268,000 after acquiring an additional 1,509,745 shares in the last quarter. Finally, Capital World Investors lifted its stake in Johnson & Johnson by 4.1% in the 2nd quarter. Capital World Investors now owns 26,510,007 shares of the company’s stock worth $3,507,009,000 after acquiring an additional 1,050,000 shares in the last quarter. 65.90% of the stock is owned by hedge funds and other institutional investors.
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JNJ has been the subject of several research reports. BidaskClub downgraded Johnson & Johnson from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Royal Bank Of Canada lifted their price target on Johnson & Johnson from $144.00 to $147.00 and gave the stock an “outperform” rating in a research note on Wednesday. Atlantic Securities downgraded Johnson & Johnson from a “neutral” rating to an “underweight” rating and set a $113.00 price target for the company. in a research note on Friday, July 21st. Jefferies Group LLC reaffirmed a “hold” rating and set a $145.00 price target (up previously from $140.00) on shares of Johnson & Johnson in a research note on Friday, July 14th. Finally, Citigroup Inc. initiated coverage on Johnson & Johnson in a research note on Monday, September 25th. They set a “neutral” rating and a $140.00 price target for the company. Five equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $141.39.
Johnson & Johnson Company Profile
Johnson & Johnson is a holding company, which is engaged in the research and development, manufacture and sale of a range of products in the healthcare field. It operates through three segments: Consumer, Pharmaceutical and Medical Devices. Its primary focus is products related to human health and well-being.
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