Johnson & Johnson (NYSE:JNJ) Releases FY 2024 Earnings Guidance

Johnson & Johnson (NYSE:JNJ) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 9.880-9.980 for the period, compared to the consensus 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 Trading Up 0.1 %

Johnson & Johnson stock opened at $161.60 on Tuesday. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $168.85. The firm has a market cap of $388.92 billion, a price-to-earnings ratio of 10.07, a price-to-earnings-growth ratio of 2.65 and a beta of 0.52. 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 firm’s 50 day moving average price is $162.60 and its two-hundred day moving average price is $154.48.

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

Johnson & Johnson Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Cantor Fitzgerald reiterated an overweight rating and issued a $215.00 target price on shares of Johnson & Johnson in a 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. Daiwa America downgraded shares of Johnson & Johnson from a strong-buy rating to a hold rating in a research note on Tuesday, July 23rd. TD Securities cut their price target on Johnson & Johnson from $195.00 to $185.00 in a research note on Thursday, July 18th. Finally, TD Cowen dropped their price target on shares of Johnson & Johnson from $195.00 to $185.00 and set a buy rating on the stock in a research note on Thursday, July 18th. Six investment 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’s stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $174.31.

Insider Activity at Johnson & Johnson

In other news, VP Robert J. Decker sold 5,635 shares of the company’s 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 approximately $3,131,683.38. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.16% 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.