Johnson & Johnson (NYSE:JNJ) Trading 0.8% Higher – Here’s Why

Johnson & Johnson (NYSE:JNJ) rose 0.8% during trading on Friday . The stock traded as high as $143.67 and last traded at $143.43. Approximately 2,411,472 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 6,904,866 shares. The stock had previously closed at $142.27.

Analysts Set New Price Targets

JNJ has been the subject of several analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research report on Wednesday, October 16th. Wolfe Research started coverage on Johnson & Johnson in a research note on Friday, November 15th. They issued an “outperform” rating and a $190.00 price target for the company. Wells Fargo & Company lifted their price objective on shares of Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Morgan Stanley increased their target price on shares of Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Finally, Royal Bank of Canada upped their price target on shares of Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $174.71.

Johnson & Johnson Stock Up 0.5 %

The stock has a fifty day moving average of $150.03 and a 200-day moving average of $156.04. The firm has a market capitalization of $344.19 billion, a price-to-earnings ratio of 20.69, a PEG ratio of 2.52 and a beta of 0.51. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.21. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The firm had revenue of $22.47 billion for the quarter, compared to analysts’ expectations of $22.17 billion. During the same quarter last year, the business posted $2.66 EPS. Johnson & Johnson’s revenue was up 5.2% on a year-over-year basis. As a group, sell-side analysts expect that Johnson & Johnson will post 9.94 EPS for the current year.

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend is Tuesday, February 18th. Johnson & Johnson’s dividend payout ratio is 71.78%.

Insider Buying and Selling at Johnson & Johnson

In related news, Director Mark A. Weinberger purchased 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was acquired at an average cost of $147.22 per share, for a total transaction of $147,220.00. Following the completion of the acquisition, the director now owns 1,000 shares in the company, valued at $147,220. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Johnson & Johnson

Institutional investors have recently modified their holdings of the stock. Vinva Investment Management Ltd grew its stake in Johnson & Johnson by 6.8% in the third quarter. Vinva Investment Management Ltd now owns 111,448 shares of the company’s stock valued at $17,988,000 after purchasing an additional 7,110 shares in the last quarter. Financial Counselors Inc. increased its holdings in Johnson & Johnson by 5.3% in the third quarter. Financial Counselors Inc. now owns 185,093 shares of the company’s stock worth $29,996,000 after buying an additional 9,309 shares during the last quarter. Meridian Investment Counsel Inc. lifted its stake in Johnson & Johnson by 19.6% in the third quarter. Meridian Investment Counsel Inc. now owns 22,629 shares of the company’s stock valued at $3,667,000 after acquiring an additional 3,710 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Johnson & Johnson by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,639,368 shares of the company’s stock worth $2,858,543,000 after acquiring an additional 102,502 shares in the last quarter. Finally, Lord Abbett & CO. LLC bought a new position in shares of Johnson & Johnson during the 3rd quarter valued at $69,859,000. 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.