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 Price Performance

Shares of Johnson & Johnson stock opened at $147.49 on Tuesday. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $355.42 billion, a price-to-earnings ratio of 10.68, a P/E/G ratio of 2.48 and a beta of 0.53. Johnson & Johnson has a 1-year low of $144.95 and a 1-year high of $175.97. The firm’s 50-day moving average price is $157.07 and its two-hundred day moving average price is $155.90.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Tuesday, January 23rd. The company reported $2.29 earnings per share for the quarter, topping the consensus estimate of $2.28 by $0.01. The firm had revenue of $21.40 billion for the quarter, compared to analysts’ expectations of $21.02 billion. Johnson & Johnson had a net margin of 37.79% and a return on equity of 37.27%. The company’s quarterly revenue was down 9.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.35 earnings per share. On average, equities analysts predict that Johnson & Johnson will post 10.66 earnings per share 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. Stockholders of record on Tuesday, May 21st will be paid a dividend of $1.24 per share. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 annualized dividend and a dividend yield of 3.36%. The ex-dividend date of this dividend is Monday, May 20th. Johnson & Johnson’s dividend payout ratio is 34.47%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, EVP Jennifer L. Taubert sold 59,397 shares of Johnson & Johnson stock in a transaction dated 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 completion of the sale, the executive vice president now owns 141,416 shares of the company’s stock, valued at approximately $22,099,078.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Johnson & Johnson news, major shareholder & Johnson Johnson sold 3,725 shares of Johnson & Johnson 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 sale, the insider now owns 4,099,575 shares in the company, valued at approximately $105,810,030.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jennifer L. Taubert sold 59,397 shares of Johnson & Johnson stock in a transaction dated 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 of the company’s stock, 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 insiders.

Hedge Funds Weigh In On Johnson & Johnson

Hedge funds and other institutional investors have recently made changes to their positions in the company. Grayhawk Investment Strategies Inc. raised its position in shares of Johnson & Johnson by 528.6% in the 4th quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock valued at $48,000 after buying an additional 259 shares in the last quarter. Aspect Partners LLC bought a new stake in shares of Johnson & Johnson during the 4th quarter valued at approximately $91,000. Groupama Asset Managment bought a new stake in shares of Johnson & Johnson during the 4th quarter valued at approximately $98,000. Mango Five Family Inc. bought a new stake in shares of Johnson & Johnson during the 4th quarter valued at approximately $110,000. Finally, Pacific Center for Financial Services bought a new stake in shares of Johnson & Johnson during the 1st quarter valued at approximately $116,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

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.