Johnson & Johnson results beat expectations

Johnson & Johnson (NYSE: JNJ) reported Q4 2023 and full year financial results before the market open in the US on Tuesday to kick off another week of earnings.

US pharmaceutical and consumer goods company reported revenue of $21.395 billion for the last quarter of 2023, beating analyst estimate of $21.022 billion. Revenue grew by 7.3% vs. the same quarter in 2022.

Earnings per share (EPS) was reported at $2.29 per share vs. $2.281 per share expected. EPS was up by 11.7% year-over-year.

The company achieved revenue of $85.159 billion in 2023 – up 6.5% vs. 2022. EPS reached $5.20 per share – down by 15.3% from 2022.

Company overview

• Founded: 1886
• Headquarters: Johnson and Johnson Plaza, New Brunswick, New Jersey, United States
• Number of employees: 130,000 (2023)
• Industry: Pharmaceutical, Medical Technology
• Key people: Joaquin Duato (Chairman & CEO)

CEO commentary

“Johnson & Johnson’s full year 2023 results reflect the breadth and competitiveness of our business and our relentless focus on delivering for patients. We have entered 2024 from a position of strength, and I am confident in our ability to lead the next wave of health innovation,” Joaquin Duato, CEO of Johnson & Johnson said in a statement.

Stock reaction

Shares of Johnson & Johnson were down by around 1% during Tuesday’s session after the latest results were announced, trading at $160.02 a share.

Stock performance

• 5 day: -0.38%
• 1 month: +2.41%
• 3 months: +5.74%
• Year-to-date: +2.02%



• 1 year: -4.99%

Johnson & Johnson stock price targets

• Cantor Fitzgerald: $215
• Raymond James: $175
• Wells Fargo & Company: $163
• UBS Group: $180
• Royal Bank of Canada: $178
• Morgan Stanley: $171
• Barclays: $162
• HSBC: $175
• Atlantic Securities: $170
• Credit Suisse Group: $175
• Stifel Nicolaus: $175
• JP Morgan Chase & Co.: $180
• Citigroup: $185
• Guggenheim: $161

Johnson & Johnson is the 20th largest company in the world with a market cap of $384.14 billion.

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Sources: Johnson & Johnson, TradingView, MarketWatch, MarketBeat, CompaniesMarketCap