Johnson & Johnson (NYSE:JNJ) Shares Down 0.7% – What’s Next?

Johnson & Johnson (NYSE:JNJ) shares dropped 0.7% on Monday . The stock traded as low as $156.06 and last traded at $156.20. Approximately 6,402,249 shares traded hands during mid-day trading, a decline of 31% from the average daily volume of 9,304,454 shares. The stock had previously closed at $157.25.

Analyst Upgrades and Downgrades

JNJ has been the topic of several research reports. Barclays increased their target price on Johnson & Johnson from $159.00 to $166.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 28th. Raymond James cut their target price on Johnson & Johnson from $170.00 to $165.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. Bank of America cut their target price on Johnson & Johnson from $160.00 to $159.00 and set a “neutral” rating on the stock in a research report on Thursday, January 23rd. Wolfe Research initiated coverage on Johnson & Johnson in a report on Friday, November 15th. They issued an “outperform” rating and a $190.00 price target for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $181.00 price target on shares of Johnson & Johnson in a report on Thursday, January 23rd. Nine investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $170.67.

Johnson & Johnson Stock Down 0.7 %

The firm has a 50 day moving average price of $147.87 and a two-hundred day moving average price of $155.95. The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $376.08 billion, a price-to-earnings ratio of 23.49, a P/E/G ratio of 2.46 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.05. The company had revenue of $22.52 billion during the quarter, compared to the consensus estimate of $22.44 billion. Johnson & Johnson had a return on equity of 34.35% and a net margin of 18.20%. The company’s revenue was up 5.3% on a year-over-year basis. During the same period last year, the firm earned $2.29 earnings per share. As a group, sell-side analysts expect that Johnson & Johnson will post 10.58 earnings per share 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 issued a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 3.18%. The ex-dividend date is Tuesday, February 18th. Johnson & Johnson’s dividend payout ratio is currently 74.59%.

Insider Activity at Johnson & Johnson

In related news, Director Mark A. Weinberger bought 1,000 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was bought at an average cost of $147.22 per share, for a total transaction of $147,220.00. Following the completion of the purchase, the director now directly owns 1,000 shares in the company, valued at approximately $147,220. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.16% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Johnson & Johnson

Hedge funds and other institutional investors have recently bought and sold shares of the stock. IFS Advisors LLC boosted its stake in Johnson & Johnson by 138.9% in the fourth quarter. IFS Advisors LLC now owns 172 shares of the company’s stock valued at $25,000 after acquiring an additional 100 shares during the period. WealthTrak Capital Management LLC acquired a new position in shares of Johnson & Johnson during the fourth quarter worth approximately $26,000. Highline Wealth Partners LLC acquired a new position in shares of Johnson & Johnson during the third quarter worth approximately $31,000. Mountain Hill Investment Partners Corp. acquired a new position in shares of Johnson & Johnson during the fourth quarter worth approximately $29,000. Finally, RPg Family Wealth Advisory LLC acquired a new position in shares of Johnson & Johnson during the third quarter worth approximately $35,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

About Johnson & Johnson

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.