Johnson & Johnson (NYSE:JNJ) Releases FY 2024 Earnings Guidance

Johnson & Johnson (NYSE:JNJ) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 10.570-10.720 for the period, compared to the consensus estimate of 10.650. The company issued revenue guidance of $88.0 billion-$88.4 billion, compared to the consensus revenue estimate of $88.4 billion. Johnson & Johnson also updated its FY24 guidance to $10.57-10.72 EPS.

Johnson & Johnson Trading Up 0.2 %

Shares of Johnson & Johnson stock opened at $144.77 on Thursday. Johnson & Johnson has a 1 year low of $143.39 and a 1 year high of $175.97. The firm has a market cap of $348.86 billion, a PE ratio of 9.03, a P/E/G ratio of 2.40 and a beta of 0.53. The stock has a fifty day moving average price of $156.54 and a 200-day moving average price of $155.74. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.16 and a quick ratio of 0.91.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $0.07. Johnson & Johnson had a return on equity of 36.43% and a net margin of 45.26%. The business had revenue of $21.38 billion for the quarter, compared to analysts’ expectations of $21.39 billion. During the same period in the previous year, the business posted $2.68 EPS. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities research analysts anticipate that Johnson & Johnson will post 10.65 EPS for the current year.

Johnson & Johnson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st will be issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date is Monday, May 20th. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s payout ratio is presently 29.68%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on JNJ shares. Cantor Fitzgerald reissued an overweight rating and set a $215.00 price objective on shares of Johnson & Johnson in a report on Monday. Bank of America cut their target price on Johnson & Johnson from $180.00 to $170.00 and set a neutral rating for the company in a research note on Wednesday. Raymond James upped their target price on Johnson & Johnson from $172.00 to $175.00 and gave the stock an outperform rating in a research note on Wednesday, January 3rd. StockNews.com raised Johnson & Johnson from a buy rating to a strong-buy rating in a research note on Tuesday, February 6th. Finally, Morgan Stanley lowered their price objective on Johnson & Johnson from $170.00 to $169.00 and set an equal weight rating for the company in a research report on Wednesday, January 24th. Eight 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. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $176.36.

Insider Buying and Selling at Johnson & Johnson

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 59,397 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $156.27, for a total value of $9,281,969.19. Following the transaction, the executive vice president now owns 141,416 shares of the company’s stock, valued at $22,099,078.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Jennifer L. Taubert sold 59,397 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $156.27, for a total value of $9,281,969.19. Following the transaction, the executive vice president now owns 141,416 shares of the company’s stock, valued at $22,099,078.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder & Johnson Johnson sold 3,725 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $25.81, for a total value of $96,142.25. Following the completion of the transaction, the insider now directly owns 4,099,575 shares in the company, valued at approximately $105,810,030.75. The disclosure for this sale can be found here. 0.16% of the stock is owned by corporate insiders.

Institutional Trading of Johnson & Johnson

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Grayhawk Investment Strategies Inc. raised its stake in Johnson & Johnson by 528.6% during the 4th quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock valued at $48,000 after purchasing an additional 259 shares during the period. Aspect Partners LLC purchased a new position in Johnson & Johnson during the 4th quarter valued at approximately $91,000. Groupama Asset Managment purchased a new position in Johnson & Johnson during the 4th quarter valued at approximately $98,000. Mango Five Family Inc. purchased a new position in Johnson & Johnson during the 4th quarter valued at approximately $110,000. Finally, Pacific Center for Financial Services purchased a new position in Johnson & Johnson during the 1st quarter valued at approximately $116,000. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Company Profile

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.