Johnson & Johnson (NYSE:JNJ) Releases FY 2023 Earnings Guidance

Johnson & Johnson (NYSE:JNJGet Rating) updated its FY 2023 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $10.45-$10.65 for the period, compared to the consensus estimate of $10.33. The company issued revenue guidance of $96.90 billion-$97.90 billion, compared to the consensus revenue estimate of $97.84 billion.

Analyst Ratings Changes

A number of equities analysts have weighed in on JNJ shares. Morgan Stanley dropped their price target on shares of Johnson & Johnson from $178.00 to $176.00 and set an equal weight rating for the company in a research report on Tuesday, December 6th. Raymond James dropped their price target on shares of Johnson & Johnson from $192.00 to $185.00 and set an outperform rating for the company in a research report on Wednesday, October 19th. Bank of America dropped their target price on shares of Johnson & Johnson from $185.00 to $178.00 and set a neutral rating for the company in a research report on Friday, October 14th. Citigroup upped their target price on shares of Johnson & Johnson from $198.00 to $205.00 and gave the stock a buy rating in a research report on Monday, December 12th. Finally, Atlantic Securities decreased their price target on shares of Johnson & Johnson from $165.00 to $160.00 and set a neutral rating on the stock in a research note on Wednesday, October 19th. Seven research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $181.75.

Johnson & Johnson Stock Down 0.3 %

Shares of NYSE:JNJ opened at $168.31 on Tuesday. The firm’s 50-day moving average is $176.07 and its two-hundred day moving average is $171.13. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.43 and a quick ratio of 1.18. Johnson & Johnson has a 1 year low of $155.72 and a 1 year high of $186.69. The firm has a market capitalization of $440.04 billion, a PE ratio of 23.44, a price-to-earnings-growth ratio of 3.21 and a beta of 0.56.

Johnson & Johnson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 7th. Investors of record on Tuesday, February 21st will be issued a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date is Friday, February 17th. Johnson & Johnson’s dividend payout ratio (DPR) is 62.95%.

Insider Activity

In other news, EVP Jennifer L. Taubert sold 76,923 shares of the company’s stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $176.78, for a total transaction of $13,598,447.94. Following the completion of the sale, the executive vice president now owns 126,456 shares in the company, valued at $22,354,891.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Jennifer L. Taubert sold 76,923 shares of the firm’s stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $176.78, for a total value of $13,598,447.94. Following the completion of the transaction, the executive vice president now owns 126,456 shares in the company, valued at $22,354,891.68. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Joseph J. Wolk sold 14,781 shares of the stock in a transaction on Tuesday, December 13th. The shares were sold at an average price of $179.60, for a total value of $2,654,667.60. Following the sale, the chief financial officer now directly owns 35,812 shares in the company, valued at approximately $6,431,835.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 233,611 shares of company stock valued at $40,960,735. 0.35% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Johnson & Johnson

Several institutional investors have recently bought and sold shares of JNJ. Private Capital Management LLC acquired a new stake in Johnson & Johnson in the first quarter valued at $213,000. Charles Schwab Investment Advisory Inc. boosted its position in shares of Johnson & Johnson by 40.6% during the 1st quarter. Charles Schwab Investment Advisory Inc. now owns 1,862 shares of the company’s stock valued at $330,000 after purchasing an additional 538 shares in the last quarter. qPULA Trading Management LP bought a new position in shares of Johnson & Johnson during the 1st quarter valued at about $422,000. KC Investment Advisors LLC lifted its stake in Johnson & Johnson by 21.7% during the first quarter. KC Investment Advisors LLC now owns 2,808 shares of the company’s stock valued at $498,000 after buying an additional 501 shares in the last quarter. Finally, Tatro Capital LLC lifted its stake in Johnson & Johnson by 2.3% during the first quarter. Tatro Capital LLC now owns 3,059 shares of the company’s stock valued at $542,000 after buying an additional 69 shares in the last quarter. 67.94% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Company Profile

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Johnson & Johnson is a holding company, which engages in the research and development, manufacture and sale of products in the health care field. It operates through the following segments: Consumer Health, Pharmaceutical, and Medical Devices. The Consumer Health segment includes products used in the baby care, oral care, beauty, over-the-counter pharmaceutical, women’s health, and wound care markets.

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Earnings History and Estimates for Johnson & Johnson (NYSE:JNJ)

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