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

Johnson & Johnson (NYSE:JNJ) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $9.88-9.98 for the period, compared to the consensus estimate of $9.95. The company issued revenue guidance of $88.4-88.8 billion, compared to the consensus revenue estimate of $88.51 billion. Johnson & Johnson also updated its FY 2024 guidance to 9.880-9.980 EPS.

Analysts Set New Price Targets

Several equities analysts have issued reports on JNJ shares. Daiwa Capital Markets cut shares of Johnson & Johnson from an outperform rating to a neutral rating and lowered their target price for the company from $160.00 to $150.00 in a research note on Tuesday, July 23rd. Cantor Fitzgerald restated an overweight rating and set a $215.00 price objective on shares of Johnson & Johnson in a research report on Thursday, October 10th. The Goldman Sachs Group cut their target price on shares of Johnson & Johnson from $160.00 to $155.00 and set a neutral rating for the company in a research report on Friday, July 19th. Sanford C. Bernstein increased their price target on Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. Finally, Morgan Stanley upped their price objective on Johnson & Johnson from $167.00 to $169.00 and gave the company an equal weight rating in a research report on Thursday, July 18th. Six equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $174.31.

Johnson & Johnson Trading Up 1.6 %

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

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share (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 company had revenue of $22.45 billion for the quarter, compared to the consensus estimate of $22.33 billion. During the same quarter last year, the company earned $2.80 EPS. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. On average, analysts predict that Johnson & Johnson will post 10 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

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

Insider Buying and Selling at Johnson & Johnson

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

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.