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

Johnson & Johnson (NYSE:JNJ) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 10.570-10.720 for the period, compared to the consensus EPS 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 Price Performance

JNJ stock opened at $145.74 on Friday. The company has a market capitalization of $351.20 billion, a P/E ratio of 9.09, a price-to-earnings-growth ratio of 2.39 and a beta of 0.53. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.91 and a current ratio of 1.16. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $175.97. The business has a 50-day simple moving average of $156.32 and a two-hundred day simple moving average of $155.68.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results 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. The business had revenue of $21.38 billion during the quarter, compared to the consensus estimate of $21.39 billion. Johnson & Johnson had a return on equity of 36.43% and a net margin of 45.26%. The company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.68 EPS. Research analysts expect that Johnson & Johnson will post 10.65 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st will be paid a dividend of $1.24 per share. The ex-dividend date of this dividend is Monday, May 20th. This represents a $4.96 dividend on an annualized basis and a yield of 3.40%. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s payout ratio is 29.68%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. StockNews.com raised shares of Johnson & Johnson from a buy rating to a strong-buy rating in a research report on Tuesday, February 6th. HSBC raised shares of Johnson & Johnson from a hold rating to a buy rating and lifted their target price for the stock from $169.00 to $170.00 in a research report on Thursday. Raymond James lifted their target price on shares of Johnson & Johnson from $172.00 to $175.00 and gave the stock an outperform rating in a research report on Wednesday, January 3rd. Bank of America dropped their target price on shares of Johnson & Johnson from $180.00 to $170.00 and set a neutral rating on the stock in a research report on Wednesday. Finally, Cantor Fitzgerald reaffirmed an overweight rating and issued a $215.00 price target on shares of Johnson & Johnson in a report on Monday. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $175.86.

Insider Activity

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

Institutional Trading of Johnson & Johnson

Several hedge funds have recently added to or reduced their stakes in JNJ. Grayhawk Investment Strategies Inc. lifted its stake in Johnson & Johnson by 528.6% in the fourth quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock worth $48,000 after purchasing an additional 259 shares during the last quarter. Aspect Partners LLC bought a new position in shares of Johnson & Johnson during the fourth quarter valued at about $91,000. Groupama Asset Managment bought a new position in shares of Johnson & Johnson during the fourth quarter valued at about $98,000. Mango Five Family Inc. bought a new position in shares of Johnson & Johnson during the fourth quarter valued at about $110,000. Finally, Pacific Center for Financial Services bought a new position in shares of Johnson & Johnson during the first quarter valued at about $116,000. 69.55% of the stock is owned by institutional investors.

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.