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

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Cantor Fitzgerald reissued an overweight rating and issued a $215.00 target price on shares of Johnson & Johnson in a research note on Monday. StockNews.com upgraded Johnson & Johnson from a buy rating to a strong-buy rating in a research report on Tuesday, February 6th. Morgan Stanley reduced their price target on Johnson & Johnson from $168.00 to $167.00 and set an equal weight rating on the stock in a research report on Wednesday. Raymond James raised their price target on Johnson & Johnson from $172.00 to $175.00 and gave the stock an outperform rating in a research report on Wednesday, January 3rd. Finally, HSBC upgraded Johnson & Johnson from a hold rating to a buy rating and raised their price target for the stock from $169.00 to $170.00 in a research report on Thursday. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Johnson & Johnson presently has an average rating of Moderate Buy and an average price target of $175.86.

Johnson & Johnson Stock Performance

Shares of Johnson & Johnson stock opened at $145.74 on Friday. The firm has a market cap of $351.20 billion, a price-to-earnings ratio of 9.09, a price-to-earnings-growth ratio of 2.39 and a beta of 0.53. The stock’s 50-day moving average is $156.32 and its 200-day moving average is $155.68. Johnson & Johnson has a one year low of $143.13 and a one year high of $175.97. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.16 and a quick ratio of 0.91.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.64 by $0.07. Johnson & Johnson had a return on equity of 36.43% and a net margin of 45.26%. The company had revenue of $21.38 billion for the quarter, compared to analyst estimates of $21.39 billion. During the same period in the previous year, the company posted $2.68 earnings per share. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities analysts predict that Johnson & Johnson will post 10.65 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st will be issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend is Monday, May 20th. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s dividend payout ratio is presently 29.68%.

Insider Buying and Selling

In other Johnson & Johnson news, major shareholder & Johnson Johnson sold 3,725 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 4,099,575 shares in the company, valued at $105,810,030.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Johnson & Johnson news, major shareholder & Johnson Johnson sold 3,725 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 4,099,575 shares in the company, valued at $105,810,030.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jennifer L. Taubert sold 59,397 shares of the company’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 value 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 corporate insiders.

Hedge Funds Weigh In On Johnson & Johnson

Institutional investors and hedge funds have recently made changes to their positions in the company. Delap Wealth Advisory LLC acquired a new position in shares of Johnson & Johnson in the third quarter valued at approximately $231,000. Vantage Financial Partners LLC acquired a new stake in Johnson & Johnson during the fourth quarter worth approximately $218,000. Private Capital Management LLC acquired a new stake in Johnson & Johnson during the first quarter worth approximately $213,000. Arkos Global Advisors acquired a new stake in Johnson & Johnson during the second quarter worth approximately $206,000. Finally, MayTech Global Investments LLC acquired a new stake in Johnson & Johnson during the fourth quarter worth approximately $170,000. 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.