Johnson & Johnson (NYSE:JNJ) Updates 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 guidance of 10.570-10.720 for the period, compared to the consensus earnings per share 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 Down 0.0 %

Shares of JNJ stock opened at $147.49 on Tuesday. The company has a market capitalization of $355.42 billion, a price-to-earnings ratio of 10.68, a PEG ratio of 2.48 and a beta of 0.53. Johnson & Johnson has a one year low of $144.95 and a one year high of $175.97. The company’s fifty day moving average price is $157.07 and its 200-day moving average price is $155.90. 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 announced its quarterly earnings results on Tuesday, January 23rd. The company reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.28 by $0.01. The company had revenue of $21.40 billion for the quarter, compared to the consensus estimate of $21.02 billion. Johnson & Johnson had a net margin of 37.79% and a return on equity of 37.27%. Johnson & Johnson’s revenue for the quarter was down 9.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.35 EPS. Sell-side analysts expect that Johnson & Johnson will post 10.66 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. Shareholders of record on Tuesday, May 21st will be issued a $1.24 dividend. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date is Monday, May 20th. Johnson & Johnson’s payout ratio is currently 34.47%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on JNJ shares. StockNews.com upgraded shares of Johnson & Johnson from a buy rating to a strong-buy rating in a report on Tuesday, February 6th. Royal Bank of Canada reissued an outperform rating and issued a $181.00 price objective on shares of Johnson & Johnson in a research note on Wednesday, February 28th. Cantor Fitzgerald reissued an overweight rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research note on Monday. Raymond James lifted their price target on shares of Johnson & Johnson from $172.00 to $175.00 and gave the stock an outperform rating in a research note on Wednesday, January 3rd. Finally, Morgan Stanley lowered their price objective on shares of Johnson & Johnson from $170.00 to $169.00 and set an equal weight rating for the company in a research report on Wednesday, January 24th. Seven 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 MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $177.31.

Insider Buying and Selling at Johnson & Johnson

In other Johnson & Johnson news, 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 transaction of $9,281,969.19. Following the transaction, the executive vice president now owns 141,416 shares in the company, valued at approximately $22,099,078.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Jennifer L. Taubert sold 59,397 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 141,416 shares of the company’s stock, valued at approximately $22,099,078.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder & Johnson Johnson sold 3,725 shares of the company’s stock in a transaction on 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 sale, 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 currently owned by company insiders.

Institutional Trading of Johnson & Johnson

A number of hedge funds have recently added to or reduced their stakes in JNJ. Moneta Group Investment Advisors LLC boosted its holdings in Johnson & Johnson by 90,144.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 54,386,720 shares of the company’s stock worth $9,607,414,000 after buying an additional 54,326,454 shares in the last quarter. Norges Bank purchased a new stake in Johnson & Johnson during the fourth quarter worth $4,609,399,000. Morgan Stanley raised its position in Johnson & Johnson by 12.0% during the fourth quarter. Morgan Stanley now owns 42,224,521 shares of the company’s stock worth $7,458,962,000 after acquiring an additional 4,521,062 shares during the period. Barclays PLC raised its position in Johnson & Johnson by 61.0% during the second quarter. Barclays PLC now owns 11,287,765 shares of the company’s stock worth $1,868,351,000 after acquiring an additional 4,278,512 shares during the period. Finally, Legal & General Group Plc raised its position in Johnson & Johnson by 22.2% during the fourth quarter. Legal & General Group Plc now owns 22,104,221 shares of the company’s stock worth $3,464,617,000 after acquiring an additional 4,021,883 shares during the period. 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.