Johnson & Johnson (NYSE:JNJ) Stock Price Up 1.9% – What’s Next?

Johnson & Johnson (NYSE:JNJ)’s stock price rose 1.9% during mid-day trading on Tuesday . The stock traded as high as $147.18 and last traded at $146.44. Approximately 2,002,811 shares were traded during trading, a decline of 62% from the average daily volume of 5,310,445 shares. The stock had previously closed at $143.66.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on JNJ shares. Royal Bank of Canada increased their price target on Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Wells Fargo & Company upped their target price on Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 14th. Citigroup cut their price target on shares of Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. Finally, Guggenheim lifted their target price on Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $174.71.

Johnson & Johnson Price Performance

The company has a market cap of $353.29 billion, a P/E ratio of 21.24, a P/E/G ratio of 2.52 and a beta of 0.51. The company’s 50-day moving average price is $151.03 and its two-hundred day moving average price is $156.25. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45.

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, topping the consensus estimate of $2.21 by $0.21. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The firm had revenue of $22.47 billion for the quarter, compared to analysts’ expectations of $22.17 billion. During the same period last year, the business posted $2.66 earnings per share. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, sell-side analysts expect that Johnson & Johnson will post 9.94 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be issued a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 3.38%. The ex-dividend date of this dividend is Tuesday, February 18th. Johnson & Johnson’s dividend payout ratio (DPR) is 71.78%.

Insiders Place Their Bets

In other Johnson & Johnson news, Director Mark A. Weinberger acquired 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was acquired at an average cost of $147.22 per share, with a total value of $147,220.00. Following the acquisition, the director now directly owns 1,000 shares of the company’s stock, valued at $147,220. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.16% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Johnson & Johnson

A number of hedge funds and other institutional investors have recently modified their holdings of JNJ. State Street Corp boosted its stake in Johnson & Johnson by 0.9% during the 3rd 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 lifted its holdings in Johnson & Johnson by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 56,106,884 shares of the company’s stock valued at $9,064,149,000 after acquiring an additional 1,004,763 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Johnson & Johnson by 10.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 18,780,645 shares of the company’s stock worth $2,744,979,000 after purchasing an additional 1,831,751 shares in the last quarter. FMR LLC boosted its holdings in Johnson & Johnson by 7.4% during the third quarter. FMR LLC now owns 18,316,920 shares of the company’s stock worth $2,968,440,000 after buying an additional 1,265,748 shares in 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 buying an additional 102,502 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors.

Johnson & Johnson Company Profile

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.