Wednesday, 28 June, 2017

Johnson & Johnson tops 1Q profit forecasts, but net dips

The logo of healthcare company Johnson & Johnson is seen in front of an office building in Zug Switzerland The logo of healthcare company Johnson & Johnson is seen in front of an office building in Zug Switzerland
Juana Turner | 19 April, 2017, 01:42

A number of brokerages recently issued reports on JNJ.

Shares closed at $125.72 on Monday and traded down about 2.5% early at $122.56. By reviewing stock prices from the stock market history of the company and examining its analysts ratings can give an investment picture with updated information of stock which helps investors to make investing decision.

Heading into the earnings release, covering sell-side analysts have a consensus target price of $128.56 on Johnson & Johnson shares. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the company.

In related news, VP Paulus Stoffels sold 22,000 shares of Johnson & Johnson stock in a transaction on Wednesday, February 15th. The stock was sold at an average price of $117.29, for a total transaction of $2,580,380.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Want to see what other hedge funds are holding JNJ? Blue Bell Private Wealth Management LLC increased its stake in shares of Johnson & Johnson by 0.3% in the third quarter. Keystone Financial Planning Inc. raised its stake in shares of Johnson & Johnson by 0.3% in the third quarter.

Tightening the gaze, stock performance for the last 5 trading days is 0.64%. Prospera Financial Services Inc raised its stake in shares of Johnson & Johnson by 10.3% in the third quarter. Finally, Goldman Sachs Group Inc lowered their price objective on shares of Johnson & Johnson from $120.00 to $115.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 25th. Zurich Insurance Group Ltd FI raised its stake in shares of Johnson & Johnson by 8.0% in the fourth quarter. Stock has got OUTPERFORM rating from 9 analysts of Thomson Reuters, 5 analysts given HOLD rating to the stock and 0 given UNDERPERFORM rating.

Shares of Johnson & Johnson (NYSE:JNJ) opened at 124.99 on Friday.

Shares declined 1.4% in pre-market trading. In terms of recent volatility, the average for the month is 0.77% and 0.64% for the past week. The current share price indicates that stock is -2.54% away from its one year high and is moving 18.04% ahead of its 52-week low. The firm has a market capitalization of $341.12 billion, a P/E ratio of 21.20 and a beta of 0.74.

In the first quarter of 2017, Johnson & Johnson (JNJ) saw "very little impact" from biosimilar competition to Remicade in the USA, said chief financial officer Dominic Caruso on an earnings call Tuesday.

Consensus estimates call for fiscal year 2017 EPS of $7.05 on revenues of $74.73 billion. The Return on Investment (ROI) is at 17% while it's Return on Equity (ROE) value stands at 22.9%.

Revenue during the quarter went up marginally by 1.62 percent to $17,766 million from $17,482 million in the previous year period.

Net earnings in the quarter were $4.42 billion, or $1.61 per share, compared with $4.46 billion, or $1.59 per share, in the year-earlier period. The business's revenue for the quarter was up 1.6% on a year-over-year basis.

Johnson & Johnson said it now expects full-year earnings in the range of $7 to $7.15 per share, up from its January forecast of $6.93 to $7.08 per share, and revenue in the range of $75.4 billion to $76.1 billion, up from $74.1 billion to $74.8 billion.

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