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

Johnson & Johnson (NYSE:JNJ) issued an update on its FY24 earnings guidance on Tuesday morning. 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.

Johnson & Johnson Stock Up 0.2 %

Johnson & Johnson stock opened at $144.77 on Thursday. Johnson & Johnson has a fifty-two week low of $143.39 and a fifty-two week high of $175.97. 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 company has a market capitalization of $348.86 billion, a P/E ratio of 9.03, a PEG ratio of 2.40 and a beta of 0.53. The stock has a 50-day simple moving average of $156.54 and a 200-day simple moving average of $155.74.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, beating the consensus estimate 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 business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.68 EPS. Equities research analysts expect that Johnson & Johnson will post 10.65 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st will be given a dividend of $1.24 per share. 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 annualized dividend and a yield of 3.43%. Johnson & Johnson’s payout ratio is presently 29.68%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on JNJ. Raymond James boosted their target price on Johnson & Johnson from $172.00 to $175.00 and gave the stock an outperform rating in a research report on Wednesday, January 3rd. Cantor Fitzgerald reiterated an overweight rating and set a $215.00 target price on shares of Johnson & Johnson in a research report on Monday. Morgan Stanley dropped their target price on Johnson & Johnson from $170.00 to $169.00 and set an equal weight rating on the stock in a research report on Wednesday, January 24th. Bank of America decreased their price target on Johnson & Johnson from $180.00 to $170.00 and set a neutral rating on the stock in a research note on Wednesday. Finally, Royal Bank of Canada decreased their price target on Johnson & Johnson from $181.00 to $175.00 and set an outperform rating on the stock in a research note on Wednesday. Eight investment 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, Johnson & Johnson presently has an average rating of Moderate Buy and an average price target of $176.36.

Insider Activity at Johnson & Johnson

In related news, major shareholder & Johnson Johnson sold 3,725 shares of Johnson & Johnson stock in a transaction on Friday, February 16th. The stock was sold at an average price of $25.81, for a total value of $96,142.25. Following the transaction, the insider now owns 4,099,575 shares in the company, valued at $105,810,030.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Johnson & Johnson 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 directly 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 is available at the SEC website. Also, major shareholder & Johnson Johnson sold 3,725 shares of the firm’s 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 completion of the transaction, the insider now directly owns 4,099,575 shares in the company, valued at $105,810,030.75. The disclosure for this sale can be found here. 0.16% of the stock is owned by insiders.

Institutional Trading of Johnson & Johnson

A number of hedge funds and other institutional investors have recently modified their holdings of the business. FIDELIS iM LLC increased its position in shares of Johnson & Johnson by 3.1% during the fourth quarter. FIDELIS iM LLC now owns 2,117 shares of the company’s stock worth $374,000 after acquiring an additional 64 shares during the last quarter. Websterrogers Financial Advisors LLC increased its position in shares of Johnson & Johnson by 2.4% during the fourth quarter. Websterrogers Financial Advisors LLC now owns 2,875 shares of the company’s stock worth $451,000 after acquiring an additional 68 shares during the last quarter. Tatro Capital LLC increased its position in shares of Johnson & Johnson by 2.3% during the first quarter. Tatro Capital LLC now owns 3,059 shares of the company’s stock worth $542,000 after acquiring an additional 69 shares during the last quarter. Palisades Hudson Asset Management L.P. increased its position in shares of Johnson & Johnson by 5.0% during the second quarter. Palisades Hudson Asset Management L.P. now owns 1,721 shares of the company’s stock worth $284,000 after acquiring an additional 82 shares during the last quarter. Finally, Tradewinds LLC. increased its position in shares of Johnson & Johnson by 0.6% during the second quarter. Tradewinds LLC. now owns 14,866 shares of the company’s stock worth $2,461,000 after acquiring an additional 90 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.