Johnson & Johnson (NYSE:JNJ) Releases FY23 Earnings Guidance

Johnson & Johnson (NYSE:JNJGet Rating) updated its FY23 earnings guidance on Tuesday. The company provided EPS guidance of $10.45-10.65 for the period, compared to the consensus EPS estimate of $10.33. The company issued revenue guidance of $96.9-97.9 billion, compared to the consensus revenue estimate of $97.73 billion. Johnson & Johnson also updated its FY 2023 guidance to $10.45-$10.65 EPS.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $168.31 on Tuesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.43 and a quick ratio of 1.18. The firm has a 50-day moving average of $176.07 and a 200-day moving average of $171.13. The company has a market cap 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 has a one year low of $155.72 and a one year high of $186.69.

Johnson & Johnson (NYSE:JNJGet Rating) last issued its quarterly earnings results on Tuesday, January 24th. The company reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. The company had revenue of $23.71 billion for the quarter, compared to analysts’ expectations of $23.90 billion. Johnson & Johnson had a return on equity of 35.37% and a net margin of 19.95%. Johnson & Johnson’s revenue was down 4.4% on a year-over-year basis. During the same quarter last year, the business earned $2.13 earnings per share. As a group, equities analysts forecast that Johnson & Johnson will post 10.04 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 7th. Stockholders of record on Tuesday, February 21st will be paid a $1.13 dividend. The ex-dividend date of this dividend is Friday, February 17th. This represents a $4.52 annualized dividend and a dividend yield of 2.69%. Johnson & Johnson’s dividend payout ratio is currently 62.95%.

Analyst Ratings Changes

Several equities research analysts have recently commented on JNJ shares. Bank of America decreased their price objective on Johnson & Johnson from $185.00 to $178.00 and set a neutral rating for the company in a report on Friday, October 14th. Atlantic Securities cut their price target on shares of Johnson & Johnson from $165.00 to $160.00 and set a neutral rating on the stock in a report on Wednesday, October 19th. Barclays started coverage on shares of Johnson & Johnson in a research report on Monday, October 17th. They issued an equal weight rating and a $175.00 price objective on the stock. SVB Leerink decreased their price target on shares of Johnson & Johnson from $194.00 to $186.00 and set an outperform rating for the company in a research note on Friday. Finally, Raymond James lowered their target price on shares of Johnson & Johnson from $192.00 to $185.00 and set an outperform rating on the stock in a report on Wednesday, October 19th. Seven equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $181.75.

Insiders Place Their Bets

In related news, EVP Ashley Mcevoy sold 73,323 shares of the company’s stock in a transaction on Wednesday, November 30th. The shares were sold at an average price of $175.47, for a total transaction of $12,865,986.81. Following the sale, the executive vice president now owns 41,813 shares of the company’s stock, valued at $7,336,927.11. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Ashley Mcevoy sold 73,323 shares of the stock in a transaction on Wednesday, November 30th. The shares were sold at an average price of $175.47, for a total value of $12,865,986.81. Following the sale, the executive vice president now owns 41,813 shares of the company’s stock, valued at $7,336,927.11. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Joseph J. Wolk sold 14,781 shares of the stock in a transaction that occurred on Tuesday, December 13th. The stock was sold at an average price of $179.60, for a total value of $2,654,667.60. Following the completion of the sale, the chief financial officer now owns 35,812 shares in the company, valued at $6,431,835.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 233,611 shares of company stock worth $40,960,735. Corporate insiders own 0.35% of the company’s stock.

Institutional Investors Weigh In On Johnson & Johnson

Several hedge funds have recently made changes to their positions in JNJ. National Pension Service increased its holdings in shares of Johnson & Johnson by 2.3% in the 3rd quarter. National Pension Service now owns 3,617,677 shares of the company’s stock valued at $595,216,000 after acquiring an additional 80,598 shares during the period. CENTRAL TRUST Co boosted its position in shares of Johnson & Johnson by 0.9% in the 3rd quarter. CENTRAL TRUST Co now owns 168,111 shares of the company’s stock worth $27,462,000 after purchasing an additional 1,550 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Johnson & Johnson by 1.3% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 140,046 shares of the company’s stock worth $22,878,000 after buying an additional 1,819 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in Johnson & Johnson by 11.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 9,826 shares of the company’s stock worth $1,605,000 after buying an additional 1,000 shares during the period. Finally, Ironwood Wealth Management LLC. grew its position in Johnson & Johnson by 8.6% during the 3rd quarter. Ironwood Wealth Management LLC. now owns 11,103 shares of the company’s stock worth $1,814,000 after purchasing an additional 876 shares during the period. 67.94% of the stock is currently owned by hedge funds and other institutional investors.

About Johnson & Johnson

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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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