Johnson & Johnson (NYSE:JNJ) Shares Up 0.3% – Here’s Why

Johnson & Johnson (NYSE:JNJ)’s stock price rose 0.3% during trading on Wednesday . The company traded as high as $154.15 and last traded at $153.93. Approximately 1,236,521 shares traded hands during trading, a decline of 86% from the average daily volume of 9,140,825 shares. The stock had previously closed at $153.49.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Wells Fargo & Company reduced their price target on Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Citigroup decreased their target price on Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Leerink Partners reduced their price objective on shares of Johnson & Johnson from $182.00 to $169.00 and set an “outperform” rating for the company in a research report on Thursday, January 23rd. Morgan Stanley dropped their target price on shares of Johnson & Johnson from $175.00 to $163.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. Finally, Barclays upped their price target on shares of Johnson & Johnson from $159.00 to $166.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 28th. Nine 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 MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $170.67.

Johnson & Johnson Trading Down 0.3 %

The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $368.61 billion, a price-to-earnings ratio of 23.02, a PEG ratio of 2.44 and a beta of 0.52. The company’s 50-day moving average is $147.46 and its 200-day moving average is $156.06.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.05. The firm had revenue of $22.52 billion for the quarter, compared to analysts’ expectations of $22.44 billion. Johnson & Johnson had a return on equity of 34.35% and a net margin of 18.20%. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.29 earnings per share. Research analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be given a $1.24 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $4.96 dividend on an annualized basis and a yield of 3.24%. Johnson & Johnson’s payout ratio is currently 74.59%.

Insider Buying and Selling at Johnson & Johnson

In other news, Director Mark A. Weinberger acquired 1,000 shares of the company’s stock in a transaction dated 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 completion of the purchase, the director now owns 1,000 shares of the company’s stock, valued at $147,220. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Johnson & Johnson

Hedge funds and other institutional investors have recently bought and sold shares of the company. IFS Advisors LLC grew its holdings in shares of Johnson & Johnson by 138.9% in the fourth quarter. IFS Advisors LLC now owns 172 shares of the company’s stock valued at $25,000 after purchasing an additional 100 shares in the last quarter. Highline Wealth Partners LLC acquired a new position in shares of Johnson & Johnson in the third quarter worth $31,000. Bay Harbor Wealth Management LLC acquired a new stake in shares of Johnson & Johnson in the fourth quarter valued at $32,000. RPg Family Wealth Advisory LLC acquired a new position in Johnson & Johnson during the 3rd quarter worth $35,000. Finally, Mowery & Schoenfeld Wealth Management LLC increased its holdings in Johnson & Johnson by 58.7% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock worth $40,000 after purchasing an additional 91 shares during the period. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

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.