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

Johnson & Johnson (NYSE:JNJ) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $10.57-10.72 for the period, compared to the consensus earnings per share 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.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. StockNews.com upgraded shares of Johnson & Johnson from a buy rating to a strong-buy rating in a research report on Tuesday, February 6th. Morgan Stanley lowered 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. Bank of America lowered their price objective on shares of Johnson & Johnson from $180.00 to $170.00 and set a neutral rating on the stock in a report on Wednesday. Royal Bank of Canada lowered their price objective on shares of Johnson & Johnson from $181.00 to $175.00 and set an outperform rating on the stock in a report on Wednesday. Finally, Cantor Fitzgerald restated an overweight rating and set a $215.00 price objective on shares of Johnson & Johnson in a report on Monday. Eight research 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. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $176.36.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $144.77 on Thursday. The company has a market cap of $348.86 billion, a P/E ratio of 9.03, a P/E/G ratio of 2.40 and a beta of 0.53. The firm has a 50-day moving average of $156.54 and a 200-day moving average of $155.74. 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 has a one year low of $143.39 and a one year high of $175.97.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly 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 company had revenue of $21.38 billion during the quarter, compared to analyst estimates of $21.39 billion. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.43%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.68 earnings per share. Equities research analysts forecast that Johnson & Johnson will post 10.65 EPS 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. Investors of record on Tuesday, May 21st will be given a dividend of $1.24 per share. The ex-dividend date is Monday, May 20th. This represents a $4.96 annualized dividend and a yield of 3.43%. 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 Activity at Johnson & Johnson

In related 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 transaction of $96,142.25. Following the completion of the transaction, the insider now 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 through this link. In other 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 transaction, 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 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 transaction, 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 owned by company insiders.

Hedge Funds Weigh In On Johnson & Johnson

Several hedge funds have recently bought and sold shares of JNJ. Grayhawk Investment Strategies Inc. raised its holdings in Johnson & Johnson by 528.6% during 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 during the last quarter. Aspect Partners LLC purchased a new position in Johnson & Johnson during the 4th quarter valued at $91,000. Groupama Asset Managment purchased a new position in Johnson & Johnson during the 4th quarter valued at $98,000. Mango Five Family Inc. purchased a new position in Johnson & Johnson during the 4th quarter valued at $110,000. Finally, Pacific Center for Financial Services purchased a new position in Johnson & Johnson during the 1st quarter valued at $116,000. Hedge funds and other institutional investors 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.