Johnson & Johnson (NYSE:JNJ) Stock Price Down 2.8% – Here’s Why

Johnson & Johnson (NYSE:JNJ) shares traded down 2.8% on Thursday . The stock traded as low as $141.44 and last traded at $142.10. 11,169,455 shares changed hands during trading, an increase of 42% from the average session volume of 7,858,281 shares. The stock had previously closed at $146.23.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Bank of America restated a “neutral” rating and set a $166.00 price target on shares of Johnson & Johnson in a research report on Tuesday, December 10th. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a research report on Wednesday, October 16th. Morgan Stanley increased their price objective 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. Wells Fargo & Company increased their price objective on shares of Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Finally, StockNews.com downgraded shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Johnson & Johnson has an average rating of “Moderate Buy” and an average target price of $174.71.

Johnson & Johnson Trading Down 2.8 %

The company’s 50 day simple moving average is $150.38 and its 200 day simple moving average is $156.13. The firm has a market cap of $342.12 billion, a price-to-earnings ratio of 20.56, a P/E/G ratio of 2.52 and a beta of 0.51. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, topping the consensus estimate of $2.21 by $0.21. The business had revenue of $22.47 billion during 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 company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.66 earnings per share. As a group, research analysts expect that Johnson & Johnson will post 9.94 earnings per share for the current fiscal 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 paid a dividend of $1.24 per share. The ex-dividend date is Tuesday, February 18th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.49%. Johnson & Johnson’s payout ratio is currently 71.78%.

Insider Buying and Selling

In other Johnson & Johnson news, Director Mark A. Weinberger bought 1,000 shares of Johnson & Johnson stock in a transaction dated Thursday, December 12th. The stock was acquired at an average cost of $147.22 per share, with a total value of $147,220.00. Following the completion of the acquisition, the director now owns 1,000 shares of the company’s stock, valued at approximately $147,220. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Highline Wealth Partners LLC acquired a new position in Johnson & Johnson during the third quarter worth about $31,000. RPg Family Wealth Advisory LLC purchased a new position in shares of Johnson & Johnson during the third quarter valued at approximately $35,000. Mowery & Schoenfeld Wealth Management LLC lifted its stake 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 valued at $40,000 after buying an additional 91 shares during the period. Activest Wealth Management purchased a new position in shares of Johnson & Johnson during the third quarter valued at approximately $40,000. Finally, Morton Brown Family Wealth LLC lifted its stake in shares of Johnson & Johnson by 400.0% during the third quarter. Morton Brown Family Wealth LLC now owns 250 shares of the company’s stock valued at $41,000 after buying an additional 200 shares during the period. 69.55% of the stock is owned by hedge funds and other 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.