Johnson & Johnson (NYSE:JNJ) Stock Price Down 2.3% – Here’s What Happened

Johnson & Johnson (NYSE:JNJ) shares traded down 2.3% during mid-day trading on Wednesday . The company traded as low as $141.44 and last traded at $142.88. 2,989,596 shares traded hands during mid-day trading, a decline of 52% from the average session volume of 6,198,114 shares. The stock had previously closed at $146.23.

Analyst Ratings Changes

Several research firms have issued reports on JNJ. Royal Bank of Canada boosted their price target on Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Bank of America reiterated a “neutral” rating and issued a $166.00 price target on shares of Johnson & Johnson in a research note on Tuesday, December 10th. Morgan Stanley increased their target price on Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research report on Wednesday, October 16th. Finally, Citigroup lowered their target price on shares of Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $174.71.

Johnson & Johnson Stock Down 0.1 %

The company has a market cap of $342.05 billion, a P/E ratio of 20.56, a P/E/G ratio of 2.52 and a beta of 0.51. 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 business’s 50 day moving average is $149.67 and its 200 day moving average is $155.99.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.21. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The company had revenue of $22.47 billion during the quarter, compared to analysts’ expectations of $22.17 billion. During the same quarter in the prior year, the company posted $2.66 earnings per share. Johnson & Johnson’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, equities analysts anticipate that Johnson & Johnson will post 9.94 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

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. This represents a $4.96 annualized dividend and a dividend yield of 3.49%. The ex-dividend date is Tuesday, February 18th. Johnson & Johnson’s payout ratio is 71.78%.

Insider Transactions at Johnson & Johnson

In other news, Director Mark A. Weinberger purchased 1,000 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were bought at an average price of $147.22 per share, for a total transaction of $147,220.00. Following the completion of the transaction, the director now owns 1,000 shares in the company, valued at $147,220. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Johnson & Johnson

Hedge funds have recently bought and sold shares of the business. Bright Futures Wealth Management LLC. increased its stake in Johnson & Johnson by 2.9% during the 2nd quarter. Bright Futures Wealth Management LLC. now owns 3,389 shares of the company’s stock worth $495,000 after buying an additional 94 shares in the last quarter. Sachetta LLC lifted its holdings in Johnson & Johnson by 5.6% in the 2nd quarter. Sachetta LLC now owns 6,797 shares of the company’s stock valued at $1,097,000 after purchasing an additional 359 shares in the last quarter. Andra AP fonden boosted its stake in Johnson & Johnson by 144.0% during the 2nd quarter. Andra AP fonden now owns 461,200 shares of the company’s stock worth $67,409,000 after purchasing an additional 272,200 shares during the last quarter. Doheny Asset Management CA grew its holdings in shares of Johnson & Johnson by 65.1% during the second quarter. Doheny Asset Management CA now owns 16,327 shares of the company’s stock worth $2,296,000 after buying an additional 6,437 shares in the last quarter. Finally, First Interstate Bank lifted its stake in shares of Johnson & Johnson by 4.3% in the second quarter. First Interstate Bank now owns 9,260 shares of the company’s stock worth $1,353,000 after buying an additional 384 shares in the last quarter. Hedge funds and other 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.