Johnson & Johnson (NYSE:JNJ) Updates 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.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ opened at $144.45 on Wednesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.16 and a quick ratio of 0.91. The stock has a market capitalization of $348.09 billion, a P/E ratio of 10.46, a P/E/G ratio of 2.45 and a beta of 0.53. The business has a 50-day moving average of $156.80 and a two-hundred day moving average of $155.82. Johnson & Johnson has a fifty-two week low of $143.39 and a fifty-two week high of $175.97.

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

Johnson & Johnson Increases Dividend

The company 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 $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 3.43%. 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. Johnson & Johnson’s dividend payout ratio (DPR) is 34.47%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on JNJ. StockNews.com upgraded Johnson & Johnson from a buy rating to a strong-buy rating in a research note on Tuesday, February 6th. Raymond James increased their price objective on Johnson & Johnson from $172.00 to $175.00 and gave the company an outperform rating in a research report on Wednesday, January 3rd. Royal Bank of Canada reiterated an outperform rating and set a $181.00 target price on shares of Johnson & Johnson in a research note on Wednesday, February 28th. Morgan Stanley dropped 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. Finally, Cantor Fitzgerald restated an overweight rating and issued a $215.00 target price on shares of Johnson & Johnson in a research note on Monday. Seven analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Johnson & Johnson currently has an average rating of Moderate Buy and an average price target 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 stock in a transaction dated 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 owns 141,416 shares of the company’s stock, valued at approximately $22,099,078.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, major shareholder & Johnson Johnson sold 3,725 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $25.81, for a total value of $96,142.25. Following 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 hyperlink. Also, EVP Jennifer L. Taubert sold 59,397 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was 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 $22,099,078.32. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Johnson & Johnson

Several institutional investors have recently modified their holdings of JNJ. Moneta Group Investment Advisors LLC boosted its stake in Johnson & Johnson by 90,144.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 54,386,720 shares of the company’s stock worth $9,607,414,000 after acquiring an additional 54,326,454 shares during the last quarter. Morgan Stanley lifted its stake in Johnson & Johnson by 12.0% in the fourth quarter. Morgan Stanley now owns 42,224,521 shares of the company’s stock valued at $7,458,962,000 after buying an additional 4,521,062 shares in the last quarter. Norges Bank bought a new stake in shares of Johnson & Johnson during the fourth quarter worth $4,609,399,000. Legal & General Group Plc raised its holdings in shares of 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. Finally, Price T Rowe Associates Inc. MD lifted its position in Johnson & Johnson by 1.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 18,694,860 shares of the company’s stock valued at $2,930,234,000 after acquiring an additional 232,738 shares in the last quarter. 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.