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 (EPS) guidance of $10.57-10.72 for the period, compared to the consensus 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.

Analysts Set New Price Targets

A number of research firms have weighed in on JNJ. Morgan Stanley decreased their price objective on Johnson & Johnson from $170.00 to $169.00 and set an equal weight rating on the stock in a report on Wednesday, January 24th. Cantor Fitzgerald reissued an overweight rating and issued a $215.00 target price on shares of Johnson & Johnson in a report on Monday. Royal Bank of Canada restated an outperform rating and issued a $181.00 price objective on shares of Johnson & Johnson in a research report on Wednesday, February 28th. Raymond James boosted their price objective 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. Finally, StockNews.com upgraded shares of Johnson & Johnson from a buy rating to a strong-buy rating in a research report on Tuesday, February 6th. Seven investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $177.31.

Johnson & Johnson Price Performance

Shares of NYSE JNJ opened at $147.49 on Tuesday. The firm has a market cap of $355.42 billion, a PE ratio of 10.68, a PEG ratio of 2.48 and a beta of 0.53. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.38. Johnson & Johnson has a 1-year low of $144.95 and a 1-year high of $175.97. The company has a fifty day moving average price of $157.07 and a 200 day moving average price of $155.90.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $21.39 billion. During the same period in the prior year, the business earned $2.68 EPS. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. Research analysts predict that Johnson & Johnson will post 10.66 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st will be issued a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.36%. 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. Johnson & Johnson’s dividend payout ratio is presently 34.47%.

Insider Buying and Selling at Johnson & Johnson

In other Johnson & Johnson news, major shareholder & Johnson Johnson sold 3,725 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $25.81, for a total value of $96,142.25. Following the transaction, 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 SEC, which can be accessed through this hyperlink. In related news, EVP Jennifer L. Taubert sold 59,397 shares of the 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 in the company, valued at approximately $22,099,078.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder & Johnson Johnson sold 3,725 shares of the stock in a transaction that occurred 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 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. Insiders own 0.16% of the company’s stock.

Institutional Trading of Johnson & Johnson

Large investors have recently made changes to their positions in the company. Grayhawk Investment Strategies Inc. lifted its holdings in shares of Johnson & Johnson by 528.6% during 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 period. Aspect Partners LLC bought a new stake in Johnson & Johnson in the 4th quarter valued at about $91,000. Groupama Asset Managment bought a new stake in Johnson & Johnson in the 4th quarter valued at about $98,000. Mango Five Family Inc. bought a new stake in Johnson & Johnson in the 4th quarter valued at about $110,000. Finally, Pacific Center for Financial Services bought a new stake in Johnson & Johnson in the 1st quarter valued at about $116,000. Institutional investors and hedge funds 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.