Johnson & Johnson (NYSE:JNJ - Get Free Report) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $10.57-10.72 for the period, compared to the consensus earnings per share estimate of $10.66. The company issued revenue guidance of +4.7-5.2% yr/yr to ~$88.0-88.4 billion, compared to the consensus revenue estimate of $88.42 billion. Johnson & Johnson also updated its FY 2024 guidance to 10.570-10.720 EPS.
Johnson & Johnson Price Performance
NYSE:JNJ traded down $3.14 during mid-day trading on Tuesday, reaching $144.45. 12,682,507 shares of the stock were exchanged, compared to its average volume of 7,188,024. The business has a fifty day moving average price of $156.80 and a 200 day moving average price of $155.82. The firm has a market capitalization of $348.09 billion, a PE ratio of 10.46, a PEG ratio of 2.48 and a beta of 0.53. Johnson & Johnson has a 1-year low of $143.39 and a 1-year high of $175.97. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.38.
Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, topping analysts' consensus estimates of $2.64 by $0.07. The firm had revenue of $21.38 billion for the quarter, compared to analysts' expectations of $21.39 billion. Johnson & Johnson had a return on equity of 37.27% and a net margin of 37.79%. Johnson & Johnson's revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the business posted $2.68 EPS. Research analysts expect that Johnson & Johnson will post 10.66 earnings per share for the current fiscal year.
Johnson & Johnson Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st will be paid a $1.24 dividend. The ex-dividend date of this dividend is Monday, May 20th. This represents a $4.96 dividend on an annualized basis and a yield of 3.43%. This is a boost from Johnson & Johnson's previous quarterly dividend of $1.19. Johnson & Johnson's dividend payout ratio (DPR) is currently 34.47%.
Analyst Ratings Changes
A number of equities analysts recently weighed in on the company. Morgan Stanley dropped their price target on Johnson & Johnson from $170.00 to $169.00 and set an equal weight rating on the stock in a research note on Wednesday, January 24th. StockNews.com raised Johnson & Johnson from a buy rating to a strong-buy rating in a research note on Tuesday, February 6th. Royal Bank of Canada reaffirmed an outperform rating and set a $181.00 target price on shares of Johnson & Johnson in a research note on Wednesday, February 28th. Cantor Fitzgerald reaffirmed an overweight rating and set a $215.00 target price on shares of Johnson & Johnson in a research note on Monday. Finally, Raymond James lifted their target price on Johnson & Johnson from $172.00 to $175.00 and gave the company an outperform rating in a research note on Wednesday, January 3rd. Seven 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. According to data from MarketBeat.com, Johnson & Johnson currently has an average rating of Moderate Buy and an average target price of $177.31.
View Our Latest Stock Report on JNJ
Insider Activity
In other news, major shareholder & Johnson Johnson sold 3,725 shares of Johnson & Johnson stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $25.81, for a total transaction of $96,142.25. Following the completion of the sale, the insider now directly owns 4,099,575 shares in the company, valued at approximately $105,810,030.75. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, major shareholder & Johnson Johnson sold 3,725 shares of the business's stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $25.81, for a total value of $96,142.25. Following the completion of the sale, the insider now directly owns 4,099,575 shares in the company, valued at approximately $105,810,030.75. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Jennifer L. Taubert sold 59,397 shares of the business's stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $156.27, for a total value of $9,281,969.19. Following the completion of the sale, the executive vice president now owns 141,416 shares of the company's stock, valued at $22,099,078.32. The disclosure for this sale can be found here. 0.16% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Johnson & Johnson
Several institutional investors and hedge funds have recently added to or reduced their stakes in JNJ. Moneta Group Investment Advisors LLC increased its position in Johnson & Johnson by 90,144.4% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 54,386,720 shares of the company's stock worth $9,607,414,000 after buying an additional 54,326,454 shares during the period. Morgan Stanley increased its position in Johnson & Johnson by 12.0% in the 4th quarter. Morgan Stanley now owns 42,224,521 shares of the company's stock worth $7,458,962,000 after buying an additional 4,521,062 shares during the period. Norges Bank bought a new position in Johnson & Johnson in the 4th quarter worth approximately $4,609,399,000. Legal & General Group Plc increased its position in Johnson & Johnson by 22.2% in the 4th quarter. Legal & General Group Plc now owns 22,104,221 shares of the company's stock worth $3,464,617,000 after buying an additional 4,021,883 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in Johnson & Johnson by 1.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 18,694,860 shares of the company's stock worth $2,930,234,000 after buying an additional 232,738 shares during the period. 69.55% of the stock is currently owned by institutional investors and hedge funds.
About Johnson & Johnson
(
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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.
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