Johnson & Johnson (NYSE:JNJ) Trading Up 0.4% – Here’s What Happened

Johnson & Johnson (NYSE:JNJ) was up 0.4% during mid-day trading on Thursday . The stock traded as high as $153.74 and last traded at $153.74. Approximately 1,316,113 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 7,008,657 shares. The stock had previously closed at $153.11.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on JNJ shares. Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research note on Wednesday, October 16th. Guggenheim raised their price target on shares of Johnson & Johnson from $156.00 to $162.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Royal Bank of Canada raised their price target on shares of Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Wolfe Research began coverage on shares of Johnson & Johnson in a research note on Friday, November 15th. They issued an “outperform” rating and a $190.00 price target on the stock. Finally, Morgan Stanley raised their price target 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. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $175.94.

Johnson & Johnson Price Performance

The firm has a market cap of $374.38 billion, a price-to-earnings ratio of 22.25, a P/E/G ratio of 2.72 and a beta of 0.53. 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 stock’s fifty day moving average price is $160.59 and its 200-day moving average price is $156.17.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results 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. The business had revenue of $22.47 billion for the quarter, compared to the consensus estimate of $22.17 billion. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The business’s revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.66 EPS. As a group, equities research analysts forecast that Johnson & Johnson will post 9.93 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Tuesday, November 26th. This represents a $4.96 annualized dividend and a dividend yield of 3.19%. Johnson & Johnson’s dividend payout ratio is currently 71.78%.

Insider Buying and Selling

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 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 owns 18,973 shares in the company, valued at $3,131,683.38. The trade was a 22.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Johnson & Johnson

A number of hedge funds have recently added to or reduced their stakes in the stock. Innealta Capital LLC acquired a new position in Johnson & Johnson during the 2nd quarter valued at about $27,000. Highline Wealth Partners LLC acquired a new position in shares of Johnson & Johnson during the third quarter worth approximately $31,000. RPg Family Wealth Advisory LLC acquired a new stake in Johnson & Johnson in the 3rd quarter valued at approximately $35,000. Mowery & Schoenfeld Wealth Management LLC raised its stake in Johnson & Johnson by 58.7% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock valued at $40,000 after acquiring an additional 91 shares in the last quarter. Finally, Activest Wealth Management acquired a new position in Johnson & Johnson during the 3rd quarter worth $40,000. 69.55% of the stock is currently owned by 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.