Johnson & Johnson (NYSE: JNJ) has reported financial results for the second quarter of 2024. Chairman and CEO Joaquin Duato said: «Johnson & Johnson’s second quarter performance reflects our relentless efforts to advance the next wave of medical innovation, which resulted in strong operating earnings for Johnson & Johnson (NYSE: JNJ) stock.» The second quarter 2024 reported revenue growth of 4.3% to $22.4 billion with operating growth of 6.6%. Earnings per share of was $2.82 with year-over-year growth of 10.2%. Worldwide operating sales in Innovative Medicine, including COVID-19 vaccines, increased by 7.8%. Worldwide MedTech operating sales grew 4.4%*, with acquisitions and divestments positively impacting growth by 0.4%. Operating sales growth was driven primarily by electrophysiology products and Abiomed in Cardiovascular, formerly known as Interventional Solutions, and wound closure products in General Surgery.
The company’s outlook for the full year 2024:
Johnson & Johnson does not provide GAAP financial measures on a forward-looking basis because the Company is unable to predict with reasonable certainty the ultimate outcome of legal proceedings. unusual gains and losses. acquisition-related costs and purchase. accounting fair value adjustments without unreasonable effort. These items are uncertain, depend on various factors and may be material to Johnson & Johnson’s results calculated in accordance with GAAP.
Johnson & Johnson (NYSE-JNJ) is also involved in thousands of lawsuits over baby powder , which a talc-based study found caused ovarian cancer. The company settled more cases back in May, when it said it resolved 95% of complaints about baby powder that was contaminated with asbestos and caused a type of cancer that forms in the tissues around the heart and lungs. Based on those facts, more than 75% of the company’s board of directors approved, via secret ballot, a global product recall and a plan to compensate affected people with $6.5 billion. These people wished to remain anonymous until this fact was officially and certifiably confirmed.
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Johnson & Johnson (NYSE-JNJ) also regularly pays quarterly dividends to its shareholders. The current dividend yield is 3.28% p.a. The actual dividend amount was approved by the AGM at $1.24 per share. The company also has a current dividend usage date, called the Ex-Dividend Date , which will be Aug. 27, 2024, and a dividend payment date, called the Pay Date , which will be Oct. 9, 2024. Based on the fact that Johnson & Johnson (NYSE-JNJ) reported second-quarter 2024 earnings results with an increase in revenue and released a dividend payment date, the company can be expected to pay a dividend by Oct. 15, 2024. Wall Street analysts have set an average target price of $172.46 per share for the stock in the short to medium term investment horizon.