Johnson & Johnson (NYSE:JNJ) Issues 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 9.880-9.980 for the period, compared to the consensus EPS estimate of 9.840. The company issued revenue guidance of $88.4 billion-$88.8 billion, compared to the consensus revenue estimate of $88.5 billion. Johnson & Johnson also updated its FY24 guidance to $9.88-9.98 EPS.

Johnson & Johnson Stock Up 1.6 %

JNJ stock opened at $164.14 on Wednesday. The firm has a 50-day simple moving average of $162.70 and a 200-day simple moving average of $154.52. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $168.85. The stock has a market capitalization of $395.02 billion, a P/E ratio of 10.23, a P/E/G ratio of 2.65 and a beta of 0.52. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, beating the consensus estimate of $2.71 by $0.11. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The firm had revenue of $22.45 billion during the quarter, compared to analysts’ expectations of $22.33 billion. During the same quarter last year, the firm earned $2.80 earnings per share. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. Equities analysts forecast that Johnson & Johnson will post 10 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be issued a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 3.02%. Johnson & Johnson’s payout ratio is 30.92%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on JNJ. Morgan Stanley raised their price objective on Johnson & Johnson from $167.00 to $169.00 and gave the stock an equal weight rating in a research report on Thursday, July 18th. TD Cowen lowered their price objective on shares of Johnson & Johnson from $195.00 to $185.00 and set a buy rating for the company in a research report on Thursday, July 18th. Daiwa Capital Markets lowered Johnson & Johnson from an outperform rating to a neutral rating and cut their target price for the company from $160.00 to $150.00 in a research report on Tuesday, July 23rd. Daiwa America lowered Johnson & Johnson from a strong-buy rating to a hold rating in a research report on Tuesday, July 23rd. Finally, TD Securities decreased their target price on Johnson & Johnson from $195.00 to $185.00 in a research note on Thursday, July 18th. Six analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Johnson & Johnson presently has a consensus rating of Moderate Buy and a consensus price target of $174.31.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $165.06, for a total value of $930,113.10. Following the sale, the vice president now directly owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.16% of the stock is owned by corporate insiders.

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.