Johnson & Johnson (NYSE:JNJ) Stock Price Down 0.8% – Here’s Why

Johnson & Johnson (NYSE:JNJ) fell 0.8% on Monday . The company traded as low as $163.23 and last traded at $163.77. 1,249,891 shares were traded during mid-day trading, a decline of 82% from the average session volume of 7,001,170 shares. The stock had previously closed at $165.12.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on JNJ shares. Wells Fargo & Company raised their target price on Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. TD Securities cut their target price on Johnson & Johnson from $195.00 to $185.00 in a research report on Thursday, July 18th. Daiwa Capital Markets cut Johnson & Johnson from an “outperform” rating to a “neutral” rating and cut their target price for the company from $160.00 to $150.00 in a research report on Tuesday, July 23rd. Royal Bank of Canada lifted their target price on Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, TD Cowen cut their target price on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $175.93.

Johnson & Johnson Stock Performance

The stock has a market capitalization of $392.70 billion, a P/E ratio of 10.21, a price-to-earnings-growth ratio of 2.65 and a beta of 0.52. The company has a 50 day simple moving average of $162.98 and a 200-day simple moving average of $154.69. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 0.85.

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, beating analysts’ consensus estimates of $2.21 by $0.21. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The company had revenue of $22.47 billion for the quarter, compared to analyst estimates of $22.17 billion. During the same period in the previous year, the company posted $2.66 EPS. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, equities analysts forecast that Johnson & Johnson will post 10 EPS for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be paid a $1.24 dividend. The ex-dividend date is Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a yield of 3.04%. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

Insider Transactions at Johnson & Johnson

In related news, VP Robert J. Decker sold 5,635 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of the sale, the vice president now directly owns 18,973 shares in the company, valued at $3,131,683.38. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Johnson & Johnson

Several institutional investors and hedge funds have recently bought and sold shares of the business. Summit Wealth Partners LLC raised its position in shares of Johnson & Johnson by 0.6% in the 2nd quarter. Summit Wealth Partners LLC now owns 10,007 shares of the company’s stock worth $1,463,000 after acquiring an additional 61 shares in the last quarter. Powers Advisory Group LLC boosted its stake in Johnson & Johnson by 0.6% during the 3rd quarter. Powers Advisory Group LLC now owns 9,489 shares of the company’s stock valued at $1,538,000 after purchasing an additional 61 shares during the last quarter. Citizens & Northern Corp boosted its stake in Johnson & Johnson by 3.5% during the 2nd quarter. Citizens & Northern Corp now owns 1,884 shares of the company’s stock valued at $275,000 after purchasing an additional 63 shares during the last quarter. Eagle Wealth Strategies LLC boosted its stake in Johnson & Johnson by 2.8% during the 3rd quarter. Eagle Wealth Strategies LLC now owns 2,294 shares of the company’s stock valued at $372,000 after purchasing an additional 63 shares during the last quarter. Finally, Epic Trust Investment Advisors LLC boosted its stake in shares of Johnson & Johnson by 3.6% in the 2nd quarter. Epic Trust Investment Advisors LLC now owns 1,831 shares of the company’s stock worth $268,000 after buying an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

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.