Johnson & Johnson (NYSE:JNJ) Releases FY24 Earnings Guidance

Johnson & Johnson (NYSE:JNJ) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $10.57-10.72 for the period, compared to the consensus earnings per share estimate of $10.66. The company issued revenue guidance of +4.7-5.2% yr/yr to ~$88.0-88.4 billion, compared to the consensus revenue estimate of $88.42 billion. Johnson & Johnson also updated its FY 2024 guidance to 10.570-10.720 EPS.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ opened at $144.45 on Wednesday. The firm’s 50 day moving average price is $156.80 and its 200-day moving average price is $155.82. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $348.09 billion, a PE ratio of 10.46, a price-to-earnings-growth ratio of 2.45 and a beta of 0.53. Johnson & Johnson has a twelve month low of $143.39 and a twelve month high of $175.97.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.64 by $0.07. The business had revenue of $21.38 billion for the quarter, compared to analysts’ expectations of $21.39 billion. Johnson & Johnson had a net margin of 37.79% and a return on equity of 37.27%. The company’s revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the company posted $2.68 EPS. Equities research analysts expect that Johnson & Johnson will post 10.66 EPS for the current 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 given a $1.24 dividend. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. 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 3.43%. Johnson & Johnson’s dividend payout ratio is presently 34.47%.

Wall Street Analysts Forecast Growth

JNJ has been the subject of several analyst reports. StockNews.com raised shares of Johnson & Johnson from a buy rating to a strong-buy rating in a report on Tuesday, February 6th. Raymond James raised their price objective on shares of Johnson & Johnson from $172.00 to $175.00 and gave the company an outperform rating in a research report on Wednesday, January 3rd. Morgan Stanley dropped their target price on shares of Johnson & Johnson from $170.00 to $169.00 and set an equal weight rating for the company in a report on Wednesday, January 24th. Royal Bank of Canada reissued an outperform rating and set a $181.00 price target on shares of Johnson & Johnson in a report on Wednesday, February 28th. Finally, Cantor Fitzgerald reaffirmed an overweight rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research note on Monday. Seven investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $177.31.

Insider Activity at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 59,397 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly owns 141,416 shares in the company, valued at approximately $22,099,078.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Jennifer L. Taubert sold 59,397 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $156.27, for a total transaction of $9,281,969.19. Following the transaction, the executive vice president now owns 141,416 shares of the company’s stock, valued at approximately $22,099,078.32. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder & Johnson Johnson sold 3,725 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $25.81, for a total value of $96,142.25. Following the sale, the insider now 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 currently owned by insiders.

Institutional Trading of Johnson & Johnson

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC boosted its position in shares of Johnson & Johnson by 90,144.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 54,386,720 shares of the company’s stock valued at $9,607,414,000 after buying an additional 54,326,454 shares during the period. Morgan Stanley boosted its holdings in Johnson & Johnson by 12.0% during the 4th quarter. Morgan Stanley now owns 42,224,521 shares of the company’s stock valued at $7,458,962,000 after acquiring an additional 4,521,062 shares during the period. Norges Bank bought a new position in Johnson & Johnson in the 4th quarter valued at $4,609,399,000. Legal & General Group Plc increased its stake in Johnson & Johnson by 22.2% in the fourth quarter. Legal & General Group Plc now owns 22,104,221 shares of the company’s stock worth $3,464,617,000 after purchasing an additional 4,021,883 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Johnson & Johnson by 1.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 18,694,860 shares of the company’s stock worth $2,930,234,000 after purchasing an additional 232,738 shares during the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

About Johnson & Johnson

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.