Johnson & Johnson (NYSE:JNJ) Trading 1% Higher – Here’s Why

Johnson & Johnson (NYSE:JNJ) shot up 1% on Thursday . The stock traded as high as $152.79 and last traded at $152.66. 1,159,197 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 9,281,842 shares. The stock had previously closed at $151.15.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on JNJ shares. Leerink Partners dropped their target price on Johnson & Johnson from $182.00 to $169.00 and set an “outperform” rating on the stock in a report on Thursday, January 23rd. Morgan Stanley cut their price objective on Johnson & Johnson from $175.00 to $163.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Royal Bank of Canada restated an “outperform” rating and set a $181.00 target price on shares of Johnson & Johnson in a report on Thursday, January 23rd. Stifel Nicolaus cut their price target on shares of Johnson & Johnson from $170.00 to $155.00 and set a “hold” rating for the company in a research note on Thursday, January 23rd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a report on Wednesday, October 16th. Nine investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $170.44.

Johnson & Johnson Trading Down 0.5 %

The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79. The firm has a market capitalization of $366.17 billion, a P/E ratio of 22.87, a price-to-earnings-growth ratio of 2.43 and a beta of 0.51. The business’s 50-day moving average is $147.61 and its 200 day moving average is $156.09.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.05. Johnson & Johnson had a return on equity of 34.35% and a net margin of 18.20%. The business had revenue of $22.52 billion during the quarter, compared to analysts’ expectations of $22.44 billion. During the same period in the previous year, the company posted $2.29 earnings per share. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current fiscal 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 paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend is Tuesday, February 18th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 74.59%.

Insiders Place Their Bets

In other Johnson & Johnson news, Director Mark A. Weinberger bought 1,000 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was purchased at an average cost of $147.22 per share, for a total transaction of $147,220.00. Following the completion of the purchase, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $147,220. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Institutional Trading of Johnson & Johnson

Several large investors have recently bought and sold shares of the business. Joel Adams & Associates Inc. acquired a new position in Johnson & Johnson during the fourth quarter worth about $333,000. Global Retirement Partners LLC lifted its stake in Johnson & Johnson by 5.7% in the 4th quarter. Global Retirement Partners LLC now owns 31,864 shares of the company’s stock valued at $4,608,000 after purchasing an additional 1,719 shares during the last quarter. Convergence Investment Partners LLC boosted its position in Johnson & Johnson by 13.3% in the fourth quarter. Convergence Investment Partners LLC now owns 16,191 shares of the company’s stock valued at $2,342,000 after buying an additional 1,897 shares in the last quarter. Allied Investment Advisors LLC grew its stake in shares of Johnson & Johnson by 1.3% during the fourth quarter. Allied Investment Advisors LLC now owns 62,464 shares of the company’s stock worth $9,034,000 after buying an additional 799 shares during the last quarter. Finally, Northcape Wealth Management LLC lifted its stake in shares of Johnson & Johnson by 11.9% in the 4th quarter. Northcape Wealth Management LLC now owns 26,486 shares of the company’s stock valued at $3,830,000 after acquiring an additional 2,813 shares during the last quarter. 69.55% of the stock is owned by institutional investors and hedge funds.

About Johnson & Johnson

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.