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

Johnson & Johnson (NYSE:JNJ) updated its FY24 earnings guidance on Tuesday. 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.

Johnson & Johnson Stock Performance

JNJ stock opened at $161.60 on Tuesday. The company has a market capitalization of $388.92 billion, a P/E ratio of 10.07, a PEG 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. The company has a 50-day simple moving average of $162.60 and a 200 day simple moving average of $154.48. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $168.85.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data 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 net margin of 46.34% and a return on equity of 36.60%. The business had revenue of $22.45 billion during the quarter, compared to analysts’ expectations of $22.33 billion. During the same period last year, the firm posted $2.80 earnings per share. The business’s revenue was up 4.3% on a year-over-year basis. Sell-side analysts predict that Johnson & Johnson will post 10 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 3.07%. Johnson & Johnson’s payout ratio is 30.92%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on JNJ shares. Royal Bank of Canada raised their price objective on Johnson & Johnson from $175.00 to $178.00 and gave the stock an outperform rating in a research note on Tuesday, October 8th. The Goldman Sachs Group cut their price objective on Johnson & Johnson from $160.00 to $155.00 and set a neutral rating on the stock in a report on Friday, July 19th. TD Securities reduced their price objective on shares of Johnson & Johnson from $195.00 to $185.00 in a research note on Thursday, July 18th. Sanford C. Bernstein boosted their price target on shares of Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. Finally, Morgan Stanley raised their price objective on shares of Johnson & Johnson from $167.00 to $169.00 and gave the stock an equal weight rating in a research note on Thursday, July 18th. Six 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 company. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $174.31.

Insider Activity at Johnson & Johnson

In related news, VP Robert J. Decker sold 5,635 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $165.06, for a total value of $930,113.10. Following the transaction, the vice president now owns 18,973 shares in the company, valued at approximately $3,131,683.38. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.16% of the company’s stock.

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.