Johnson & Johnson (NYSE:JNJ) Trading Up 0.8% – Here’s What Happened

Johnson & Johnson (NYSE:JNJ)’s share price rose 0.8% on Thursday . The company traded as high as $146.14 and last traded at $146.08. Approximately 1,538,291 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 7,611,008 shares. The stock had previously closed at $144.97.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on JNJ shares. Morgan Stanley boosted their target price on shares of Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a report on Wednesday, October 16th. Guggenheim upped their price target on Johnson & Johnson from $156.00 to $162.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Wolfe Research assumed coverage on shares of Johnson & Johnson in a research report on Friday, November 15th. They issued an “outperform” rating and a $190.00 price objective for the company. Finally, Bank of America reaffirmed a “neutral” rating and set a $166.00 target price on shares of Johnson & Johnson in a report on Tuesday, December 10th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and an average target price of $174.71.

Johnson & Johnson Stock Performance

The company’s 50-day moving average price is $149.12 and its two-hundred day moving average price is $156.09. The stock has a market cap of $356.15 billion, a PE ratio of 21.39, a PEG ratio of 2.30 and a beta of 0.51. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.79 and a current ratio of 1.03.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly 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. The firm had revenue of $22.47 billion during the quarter, compared to analyst estimates of $22.17 billion. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The company’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.66 earnings per share. On average, equities research analysts forecast that Johnson & Johnson will post 9.94 EPS for the current year.

Johnson & Johnson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Investors 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 3.35%. Johnson & Johnson’s payout ratio is 71.78%.

Insider Buying and Selling at Johnson & Johnson

In related news, Director Mark A. Weinberger acquired 1,000 shares of Johnson & Johnson stock in a transaction dated Thursday, December 12th. The shares were purchased 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Johnson & Johnson

Several institutional investors have recently bought and sold shares of the stock. International Assets Investment Management LLC boosted its stake in shares of Johnson & Johnson by 20,130.0% during the third quarter. International Assets Investment Management LLC now owns 3,454,473 shares of the company’s stock valued at $559,832,000 after purchasing an additional 3,437,397 shares during the period. Marshall Wace LLP boosted its position in Johnson & Johnson by 506.9% during the 2nd quarter. Marshall Wace LLP now owns 3,884,962 shares of the company’s stock valued at $567,826,000 after buying an additional 3,244,862 shares during the period. Janus Henderson Group PLC grew its holdings in Johnson & Johnson by 228.1% in the 3rd quarter. Janus Henderson Group PLC now owns 3,389,361 shares of the company’s stock worth $549,223,000 after acquiring an additional 2,356,359 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Johnson & Johnson by 11.4% in the third quarter. Franklin Resources Inc. now owns 16,840,069 shares of the company’s stock valued at $2,721,355,000 after acquiring an additional 1,729,281 shares during the period. Finally, Holocene Advisors LP bought a new stake in shares of Johnson & Johnson in the third quarter worth about $225,040,000. 69.55% of the stock is currently owned by hedge funds and other 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.