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

Johnson & Johnson (NYSE:JNJ) issued an update on its FY 2024 earnings guidance on Tuesday morning. 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 Stock Performance

NYSE:JNJ opened at $147.49 on Tuesday. Johnson & Johnson has a 12-month low of $144.95 and a 12-month high of $175.97. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $355.42 billion, a PE ratio of 10.68, a price-to-earnings-growth ratio of 2.48 and a beta of 0.53. The firm has a 50-day moving average price of $157.07 and a 200 day moving average price of $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. Research analysts anticipate that Johnson & Johnson will post 10.66 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st will be paid a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a 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 currently 34.47%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Royal Bank of Canada reissued an outperform rating and set a $181.00 price target on shares of Johnson & Johnson in a research note on Wednesday, February 28th. StockNews.com raised shares of Johnson & Johnson from a buy rating to a strong-buy rating in a research note on Tuesday, February 6th. Raymond James increased their price target on shares of Johnson & Johnson from $172.00 to $175.00 and gave the company an outperform rating in a research note on Wednesday, January 3rd. Morgan Stanley reduced 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 research note on Wednesday, January 24th. Finally, Cantor Fitzgerald reaffirmed an overweight rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research note on Monday. Seven research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Johnson & Johnson has a consensus rating of Moderate Buy and an average target price of $177.31.

Insiders Place Their Bets

In other Johnson & Johnson news, major shareholder & Johnson Johnson sold 3,725 shares of the 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 in the company, valued at $105,810,030.75. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Johnson & Johnson news, major shareholder & Johnson Johnson sold 3,725 shares of the 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 in the company, valued at $105,810,030.75. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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 $22,099,078.32. The disclosure for this sale can be found here. Company insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Johnson & Johnson

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Delap Wealth Advisory LLC bought a new position in shares of Johnson & Johnson in the 3rd quarter valued at about $231,000. Vantage Financial Partners LLC bought a new position in shares of Johnson & Johnson in the 4th quarter valued at about $218,000. Private Capital Management LLC bought a new position in shares of Johnson & Johnson in the 1st quarter valued at about $213,000. Arkos Global Advisors bought a new position in shares of Johnson & Johnson in the 2nd quarter valued at about $206,000. Finally, MayTech Global Investments LLC bought a new stake in shares of Johnson & Johnson during the 4th quarter worth about $170,000. 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.