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.

Analyst Ratings Changes

JNJ has been the topic of a number of research reports. Bank of America dropped their price objective on Johnson & Johnson from $180.00 to $170.00 and set a neutral rating on the stock in a report on Wednesday. Morgan Stanley dropped their price objective on Johnson & Johnson from $168.00 to $167.00 and set an equal weight rating on the stock in a report on Wednesday. StockNews.com upgraded Johnson & Johnson from a buy rating to a strong-buy rating in a report on Tuesday, February 6th. Cantor Fitzgerald restated an overweight rating and issued a $215.00 price objective on shares of Johnson & Johnson in a report on Monday. Finally, Raymond James increased their price target on Johnson & Johnson from $172.00 to $175.00 and gave the company an outperform rating in a report on Wednesday, January 3rd. Seven equities research 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 stock. Based on data from MarketBeat, Johnson & Johnson presently has a consensus rating of Moderate Buy and a consensus price target of $175.86.

Johnson & Johnson Stock Up 0.7 %

JNJ opened at $145.74 on Friday. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $175.97. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $351.20 billion, a price-to-earnings ratio of 9.09, a P/E/G ratio of 2.39 and a beta of 0.53. The business has a 50 day moving average of $156.32 and a 200-day moving average of $155.68.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data 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 analysts’ expectations of $21.39 billion. Johnson & Johnson had a return on equity of 36.43% and a net margin of 45.26%. Johnson & Johnson’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.68 earnings per share. As a group, sell-side analysts anticipate that Johnson & Johnson will post 10.65 earnings per share for the current 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 given a $1.24 dividend. This is a boost 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 29.68%.

Insider Buying and Selling

In related news, major shareholder & Johnson Johnson sold 3,725 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was 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 directly owns 4,099,575 shares of the company’s stock, valued at $105,810,030.75. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Johnson & Johnson news, major shareholder & Johnson Johnson sold 3,725 shares of Johnson & Johnson stock in a transaction on Friday, February 16th. The stock was 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 directly owns 4,099,575 shares of the company’s stock, valued at $105,810,030.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jennifer L. Taubert sold 59,397 shares of Johnson & Johnson 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 transaction, 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. 0.16% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Moneta Group Investment Advisors LLC increased its stake in shares of Johnson & Johnson by 90,144.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 54,386,720 shares of the company’s stock valued at $9,607,414,000 after buying an additional 54,326,454 shares in the last quarter. Norges Bank acquired a new stake in shares of Johnson & Johnson in the fourth quarter valued at $4,609,399,000. Morgan Stanley increased its stake in shares of 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. Barclays PLC increased its stake in shares of Johnson & Johnson by 61.0% in the second quarter. Barclays PLC now owns 11,287,765 shares of the company’s stock valued at $1,868,351,000 after buying an additional 4,278,512 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Johnson & Johnson by 22.2% in the fourth quarter. Legal & General Group Plc now owns 22,104,221 shares of the company’s stock valued at $3,464,617,000 after buying an additional 4,021,883 shares in the last quarter. 69.55% of the stock is owned by 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.