Johnson & Johnson (NYSE:JNJ) Trading Down 0.2% – Here’s What Happened

Johnson & Johnson (NYSE:JNJ) was down 0.2% during trading on Tuesday . The company traded as low as $156.35 and last traded at $157.87. Approximately 817,406 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 6,944,819 shares. The stock had previously closed at $158.24.

Analyst Upgrades and Downgrades

A number of research firms recently commented on JNJ. TD Cowen cut their price objective on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Morgan Stanley upped their price objective on shares of Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Citigroup increased their price objective on shares of Johnson & Johnson from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Royal Bank of Canada upped their price target on shares of Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, The Goldman Sachs Group dropped their price objective on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research note on Friday, July 19th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $175.00.

Johnson & Johnson Stock Down 0.7 %

The stock has a fifty day moving average price of $162.96 and a two-hundred day moving average price of $155.76. The company has a market cap of $377.30 billion, a P/E ratio of 22.70, a price-to-earnings-growth ratio of 2.81 and a beta of 0.53. 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 posted its earnings results 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 net margin of 19.14% and a return on equity of 35.45%. The firm had revenue of $22.47 billion during the quarter, compared to analyst estimates of $22.17 billion. During the same quarter in the prior year, the business posted $2.66 EPS. The business’s revenue was up 5.2% compared to the same quarter last year. On average, research analysts expect that Johnson & Johnson will post 9.94 EPS for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend is Tuesday, November 26th. Johnson & Johnson’s payout ratio is 71.78%.

Insiders Place Their Bets

In related news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $165.06, for a total value of $930,113.10. Following the transaction, the vice president now directly owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Johnson & Johnson

A number of hedge funds have recently modified their holdings of JNJ. Meridian Financial Partners LLC bought a new position in Johnson & Johnson during the second quarter worth about $1,626,000. Summit Financial Wealth Advisors LLC increased its position in shares of Johnson & Johnson by 26.3% during the first quarter. Summit Financial Wealth Advisors LLC now owns 5,392 shares of the company’s stock valued at $853,000 after buying an additional 1,122 shares during the period. Franklin Parlapiano Turner & Welch LLC lifted its holdings in shares of Johnson & Johnson by 0.7% in the first quarter. Franklin Parlapiano Turner & Welch LLC now owns 47,186 shares of the company’s stock worth $7,464,000 after buying an additional 325 shares in the last quarter. Lmcg Investments LLC grew its stake in Johnson & Johnson by 32.7% during the third quarter. Lmcg Investments LLC now owns 87,162 shares of the company’s stock valued at $14,125,000 after acquiring an additional 21,471 shares in the last quarter. Finally, NTV Asset Management LLC increased its holdings in Johnson & Johnson by 1.6% during the 1st quarter. NTV Asset Management LLC now owns 36,000 shares of the company’s stock worth $5,695,000 after acquiring an additional 565 shares during the period. Institutional investors own 69.55% of the company’s stock.

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.