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

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

Johnson & Johnson Stock Performance

Shares of NYSE JNJ opened at $147.49 on Tuesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.91 and a current ratio of 1.16. The company has a market cap of $355.42 billion, a P/E ratio of 10.68, a P/E/G ratio of 2.48 and a beta of 0.53. The firm’s fifty day moving average is $157.07 and its two-hundred day moving average is $155.90. Johnson & Johnson has a 52-week low of $144.95 and a 52-week high of $175.97.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $0.07. Johnson & Johnson had a net margin of 37.79% and a return on equity of 37.27%. The company had revenue of $21.38 billion for the quarter, compared to the consensus estimate of $21.39 billion. During the same period in the previous year, the firm posted $2.68 EPS. Johnson & Johnson’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, analysts anticipate that Johnson & Johnson will post 10.66 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st will be issued a $1.24 dividend. The ex-dividend date of this dividend is Monday, May 20th. 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 dividend yield of 3.36%. Johnson & Johnson’s payout ratio is 34.47%.

Analysts Set New Price Targets

A number of research firms recently commented on JNJ. Royal Bank of Canada reaffirmed an outperform rating and set a $181.00 price target on shares of Johnson & Johnson in a research note on Wednesday, February 28th. 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. Cantor Fitzgerald reissued an overweight rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research report on Monday. StockNews.com raised shares of Johnson & Johnson from a buy rating to a strong-buy rating in a research report on Tuesday, February 6th. Finally, Raymond James boosted their price objective on shares of Johnson & Johnson from $172.00 to $175.00 and gave the company an outperform rating in a research report on Wednesday, January 3rd. Seven analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued 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 Activity

In related news, EVP Jennifer L. Taubert sold 59,397 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 141,416 shares of the company’s stock, valued at $22,099,078.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related 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 transaction of $96,142.25. Following the sale, the insider now directly owns 4,099,575 shares of the company’s stock, valued at $105,810,030.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jennifer L. Taubert sold 59,397 shares of the stock in a transaction 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 directly owns 141,416 shares in the company, valued at $22,099,078.32. The disclosure for this sale can be found here. Insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Johnson & Johnson

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Delap Wealth Advisory LLC acquired a new stake in shares of Johnson & Johnson in the third quarter valued at about $231,000. Vantage Financial Partners LLC acquired a new stake in shares of Johnson & Johnson in the fourth quarter valued at about $218,000. Private Capital Management LLC acquired a new stake in shares of Johnson & Johnson in the first quarter valued at about $213,000. Arkos Global Advisors acquired a new stake in Johnson & Johnson during the second quarter worth about $206,000. Finally, MayTech Global Investments LLC acquired a new stake in Johnson & Johnson during the fourth quarter worth about $170,000. 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.