Johnson & Johnson (NYSE:JNJ) Trading 0.8% Higher – Should You Buy?

Johnson & Johnson (NYSE:JNJ) shares were up 0.8% during mid-day trading on Monday . The stock traded as high as $150.89 and last traded at $150.51. Approximately 1,627,443 shares changed hands during trading, a decline of 77% from the average daily volume of 7,056,283 shares. The stock had previously closed at $149.31.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on JNJ shares. Citigroup lifted their price target on shares of Johnson & Johnson from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research report on Wednesday, October 16th. Morgan Stanley raised their target price on Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Wolfe Research assumed coverage on shares of Johnson & Johnson in a research report on Friday, November 15th. They set an “outperform” rating and a $190.00 price target for the company. Finally, Wells Fargo & Company boosted their target price on shares of Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Johnson & Johnson has a consensus rating of “Moderate Buy” and an average price target of $175.67.

Johnson & Johnson Price Performance

The firm has a 50-day moving average of $158.09 and a 200-day moving average of $156.40. The stock has a market cap of $360.49 billion, a PE ratio of 21.78, a PEG ratio of 2.65 and a beta of 0.51. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.21. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The business had revenue of $22.47 billion during the quarter, compared to analyst estimates of $22.17 billion. During the same period last year, the firm posted $2.66 EPS. The company’s revenue was up 5.2% on a year-over-year basis. Research analysts predict that Johnson & Johnson will post 9.93 EPS for the current year.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be given a dividend of $1.24 per share. The ex-dividend date is Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.31%. Johnson & Johnson’s payout ratio is 71.78%.

Hedge Funds Weigh In On Johnson & Johnson

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp grew its holdings in shares of Johnson & Johnson by 0.9% in the third quarter. State Street Corp now owns 134,245,811 shares of the company’s stock valued at $21,755,874,000 after purchasing an additional 1,154,088 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Johnson & Johnson by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 56,106,884 shares of the company’s stock worth $9,064,149,000 after buying an additional 1,004,763 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Johnson & Johnson by 10.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 18,780,645 shares of the company’s stock valued at $2,744,979,000 after buying an additional 1,831,751 shares in the last quarter. FMR LLC lifted its holdings in shares of Johnson & Johnson by 7.4% in the 3rd quarter. FMR LLC now owns 18,316,920 shares of the company’s stock valued at $2,968,440,000 after acquiring an additional 1,265,748 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Johnson & Johnson by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,639,368 shares of the company’s stock worth $2,858,543,000 after acquiring an additional 102,502 shares in the last quarter. 69.55% of the stock is owned by institutional investors.

About Johnson & Johnson

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.