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 EPS guidance of 10.570-10.720 for the period, compared to the consensus EPS 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 Stock Up 0.2 %

Shares of NYSE JNJ opened at $144.77 on Thursday. The stock has a fifty day moving average price of $156.54 and a 200 day moving average price of $155.74. 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 company has a market cap of $348.86 billion, a P/E ratio of 9.03, a P/E/G ratio of 2.40 and a beta of 0.53. Johnson & Johnson has a 12-month low of $143.39 and a 12-month high of $175.97.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results 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 the consensus estimate of $21.39 billion. Johnson & Johnson had a return on equity of 36.43% and a net margin of 45.26%. The company’s revenue was up 2.3% on a year-over-year basis. During the same period last year, the firm earned $2.68 earnings per share. Research analysts anticipate that Johnson & Johnson will post 10.65 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 paid a dividend of $1.24 per share. The ex-dividend date is Monday, May 20th. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 annualized dividend and a dividend yield of 3.43%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 29.68%.

Analyst Ratings Changes

Several analysts have recently weighed in on JNJ shares. Bank of America lowered their target price on Johnson & Johnson from $180.00 to $170.00 and set a neutral rating for the company in a research note on Wednesday. StockNews.com upgraded Johnson & Johnson from a buy rating to a strong-buy rating in a research note on Tuesday, February 6th. Morgan Stanley decreased their price target on Johnson & Johnson from $170.00 to $169.00 and set an equal weight rating for the company in a research note on Wednesday, January 24th. Cantor Fitzgerald reiterated an overweight rating and issued a $215.00 price target on shares of Johnson & Johnson in a research note on Monday. Finally, Royal Bank of Canada decreased their price target on Johnson & Johnson from $181.00 to $175.00 and set an outperform rating for the company in a research note on Wednesday. Eight research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Johnson & Johnson presently has an average rating of Moderate Buy and a consensus price target of $176.36.

Insider Activity

In other news, EVP Jennifer L. Taubert sold 59,397 shares of Johnson & Johnson stock in a transaction that occurred on Friday, February 9th. The stock was 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 $22,099,078.32. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Jennifer L. Taubert sold 59,397 shares of the firm’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 $22,099,078.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder & Johnson Johnson sold 3,725 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 4,099,575 shares in the company, valued at approximately $105,810,030.75. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in JNJ. SageView Advisory Group LLC grew its position in Johnson & Johnson by 98.3% in 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 during the last quarter. Harbour Investments Inc. grew its position in Johnson & Johnson by 4.1% in 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 during the last quarter. Aspect Partners LLC acquired a new position in Johnson & Johnson in the fourth quarter worth approximately $91,000. GSA Capital Partners LLP grew its position in Johnson & Johnson by 160.7% in 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 during the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its position in Johnson & Johnson by 17.4% in 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 during 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.