Johnson & Johnson (NYSE:JNJ) Shares Down 0.2% – Here’s What Happened

Shares of Johnson & Johnson (NYSE:JNJ) were down 0.2% during mid-day trading on Tuesday . The company traded as low as $148.33 and last traded at $149.25. Approximately 2,521,903 shares traded hands during trading, a decline of 64% from the average daily volume of 7,066,104 shares. The stock had previously closed at $149.60.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on JNJ shares. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. Guggenheim increased their price target on Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Wolfe Research initiated coverage on Johnson & Johnson in a research report on Friday, November 15th. They set an “outperform” rating and a $190.00 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a report on Wednesday, October 16th. Finally, Wells Fargo & Company increased their target price on Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $175.40.

Johnson & Johnson Stock Performance

The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79. The stock has a market cap of $360.42 billion, a price-to-earnings ratio of 21.60, a PEG ratio of 2.65 and a beta of 0.51. The firm has a fifty day moving average of $157.84 and a 200 day moving average of $156.40.

Johnson & Johnson (NYSE:JNJ) last posted its 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 company 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%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.66 earnings per share. As a group, sell-side analysts forecast that Johnson & Johnson will post 9.93 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 dividend of $1.24 per share. The ex-dividend date is Tuesday, November 26th. This represents a $4.96 annualized dividend and a yield of 3.31%. Johnson & Johnson’s dividend payout ratio (DPR) is 71.78%.

Institutional Investors Weigh In On Johnson & Johnson

Several hedge funds and other institutional investors have recently added to or reduced their stakes in JNJ. Innealta Capital LLC acquired a new stake in Johnson & Johnson during the second quarter worth $27,000. Highline Wealth Partners LLC purchased a new position in shares of Johnson & Johnson during the third quarter worth $31,000. RPg Family Wealth Advisory LLC purchased a new position in shares of Johnson & Johnson during the third quarter worth $35,000. Mowery & Schoenfeld Wealth Management LLC boosted its position 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 during the period. Finally, Activest Wealth Management purchased a new position in shares of Johnson & Johnson during the third quarter worth $40,000. Institutional investors and hedge funds 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.