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

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

Several analysts have recently weighed in 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. Morgan Stanley decreased their price objective on shares of Johnson & Johnson from $168.00 to $167.00 and set an equal weight rating on the stock in a report on Wednesday. Bank of America decreased 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. HSBC upgraded shares of Johnson & Johnson from a hold rating to a buy rating and upped their price objective for the stock from $169.00 to $170.00 in a report on Thursday. Finally, Cantor Fitzgerald restated an overweight rating and issued a $215.00 price objective on shares of Johnson & Johnson in a report on Monday. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Johnson & Johnson presently has an average rating of Moderate Buy and an average price target of $175.86.

Johnson & Johnson Price Performance

Shares of JNJ opened at $145.74 on Friday. Johnson & Johnson has a twelve month low of $143.13 and a twelve month high of $175.97. The firm’s fifty day simple moving average is $156.32 and its 200-day simple moving average is $155.68. The firm has a market capitalization of $351.20 billion, a price-to-earnings ratio of 9.09, a PEG ratio of 2.39 and a beta of 0.53. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.38.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.64 by $0.07. The firm had revenue of $21.38 billion for the quarter, compared to the consensus estimate of $21.39 billion. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.43%. The company’s revenue was up 2.3% on a year-over-year basis. During the same period last year, the firm posted $2.68 EPS. Equities analysts forecast that Johnson & Johnson will post 10.65 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st will be given a dividend of $1.24 per share. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend is Monday, May 20th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 29.68%.

Insider Transactions at Johnson & Johnson

In related news, major shareholder & Johnson Johnson sold 3,725 shares of the firm’s 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 sale, the insider now owns 4,099,575 shares in the company, valued at $105,810,030.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 59,397 shares of Johnson & Johnson 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 completion of the transaction, the executive vice president now owns 141,416 shares in the company, valued at $22,099,078.32. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder & Johnson Johnson sold 3,725 shares of Johnson & Johnson stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $25.81, for a total transaction of $96,142.25. Following the transaction, the insider now owns 4,099,575 shares of the company’s stock, valued at approximately $105,810,030.75. The disclosure for this sale can be found here. Company 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 business. SageView Advisory Group LLC grew its holdings in shares of Johnson & Johnson by 98.3% during the fourth quarter. SageView Advisory Group LLC now owns 19,359 shares of the company’s stock worth $3,074,000 after buying an additional 9,597 shares in the last quarter. Harbour Investments Inc. grew its holdings in shares of Johnson & Johnson by 4.1% during the fourth quarter. Harbour Investments Inc. now owns 26,057 shares of the company’s stock worth $4,084,000 after buying an additional 1,025 shares in the last quarter. Aspect Partners LLC purchased a new stake in shares of Johnson & Johnson during the fourth quarter worth about $91,000. GSA Capital Partners LLP grew its holdings in shares of Johnson & Johnson by 160.7% during the fourth quarter. GSA Capital Partners LLP now owns 7,308 shares of the company’s stock worth $1,145,000 after buying an additional 4,505 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its holdings in shares of Johnson & Johnson by 17.4% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 545,944 shares of the company’s stock worth $85,571,000 after buying an additional 80,822 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

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.