Johnson & Johnson (NYSE:JNJ) Trading Down 0.6% – Here’s Why

Johnson & Johnson (NYSE:JNJ) shares dropped 0.6% during trading on Thursday . The company traded as low as $156.66 and last traded at $156.87. Approximately 1,346,764 shares traded hands during trading, a decline of 81% from the average daily volume of 6,954,603 shares. The stock had previously closed at $157.88.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a report on Wednesday, October 16th. The Goldman Sachs Group decreased their price objective on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a report on Friday, July 19th. TD Cowen cut their target price on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Royal Bank of Canada increased their price target on shares of Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Finally, Daiwa America lowered shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $175.00.

Johnson & Johnson Trading Down 0.7 %

The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45. The business has a 50 day moving average price of $162.96 and a 200-day moving average price of $155.76. The firm has a market capitalization of $377.54 billion, a PE ratio of 22.70, a P/E/G ratio of 2.81 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last released 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. The firm had revenue of $22.47 billion during the quarter, compared to analysts’ expectations of $22.17 billion. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. Johnson & Johnson’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.66 earnings per share. Analysts expect that Johnson & Johnson will post 9.94 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be issued a $1.24 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a yield of 3.16%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 71.78%.

Insider Transactions at Johnson & Johnson

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Innealta Capital LLC purchased a new stake in shares of Johnson & Johnson in the second quarter valued at $27,000. Highline Wealth Partners LLC acquired a new stake in shares of Johnson & Johnson during the 3rd quarter worth about $31,000. Mowery & Schoenfeld Wealth Management LLC grew its holdings in shares of Johnson & Johnson by 58.7% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock worth $40,000 after buying an additional 91 shares in the last quarter. Morton Brown Family Wealth LLC lifted its stake in shares of Johnson & Johnson by 400.0% during the third quarter. Morton Brown Family Wealth LLC now owns 250 shares of the company’s stock valued at $41,000 after buying an additional 200 shares during the period. Finally, MFA Wealth Advisors LLC acquired a new stake in Johnson & Johnson during the second quarter worth approximately $43,000. 69.55% of the stock is owned by hedge funds and other 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.