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

Johnson & Johnson (NYSE:JNJ) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 10.570-10.720 for the period, compared to the consensus earnings per share 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 Stock Down 2.1 %

Shares of Johnson & Johnson stock opened at $144.45 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.91 and a current ratio of 1.16. The stock has a market capitalization of $348.09 billion, a price-to-earnings ratio of 10.46, a P/E/G ratio of 2.45 and a beta of 0.53. Johnson & Johnson has a 52-week low of $143.39 and a 52-week high of $175.97. The company’s 50 day moving average price is $156.80 and its 200-day moving average price is $155.82.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.64 by $0.07. Johnson & Johnson had a net margin of 37.79% and a return on equity of 37.27%. The firm had revenue of $21.38 billion for the quarter, compared to analyst estimates of $21.39 billion. During the same quarter in the previous year, the firm posted $2.68 EPS. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. Equities research analysts forecast 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. Stockholders 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. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date is Monday, May 20th. Johnson & Johnson’s payout ratio is currently 34.47%.

Analysts Set New Price Targets

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

Insider Buying and Selling at Johnson & Johnson

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

Institutional Investors Weigh In On Johnson & Johnson

Several hedge funds and other institutional investors have recently added to or reduced their stakes in JNJ. Grayhawk Investment Strategies Inc. boosted its position in Johnson & Johnson by 528.6% in the 4th quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock worth $48,000 after purchasing an additional 259 shares in the last quarter. Aspect Partners LLC acquired a new position in shares of Johnson & Johnson in the 4th quarter valued at $91,000. Groupama Asset Managment purchased a new stake in Johnson & Johnson during the fourth quarter worth $98,000. Sanctuary Wealth Management L.L.C. acquired a new stake in Johnson & Johnson during the fourth quarter valued at $116,000. Finally, Mango Five Family Inc. purchased a new position in Johnson & Johnson in the fourth quarter valued at $110,000. 69.55% of the stock is owned by institutional investors and hedge funds.

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.