Johnson & Johnson (NYSE:JNJ) Hits New 52-Week High – Still a Buy?

Johnson & Johnson (NYSE:JNJ) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $169.83 and last traded at $169.14, with a volume of 1106799 shares. The stock had previously closed at $167.28.

Analyst Ratings Changes

JNJ has been the topic of a number of recent research reports. Leerink Partners decreased their price objective on Johnson & Johnson from $182.00 to $169.00 and set an “outperform” rating on the stock in a report on Thursday, January 23rd. Citigroup dropped their price objective on Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Morgan Stanley reduced their target price on shares of Johnson & Johnson from $175.00 to $163.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Raymond James dropped their target price on shares of Johnson & Johnson from $170.00 to $165.00 and set an “outperform” rating for the company in a research report on Thursday, January 23rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $181.00 target price on shares of Johnson & Johnson in a research note on Wednesday, February 19th. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $170.67.

Johnson & Johnson Stock Performance

The firm has a market cap of $408.01 billion, a P/E ratio of 25.48, a PEG ratio of 2.56 and a beta of 0.52. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.43. The firm has a fifty day moving average of $151.33 and a 200-day moving average of $156.08.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.99 by $0.05. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. The company had revenue of $22.52 billion during the quarter, compared to analysts’ expectations of $22.44 billion. During the same quarter in the previous year, the company earned $2.29 EPS. Johnson & Johnson’s revenue was up 5.3% on a year-over-year basis. Research analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date of this dividend is Tuesday, February 18th. Johnson & Johnson’s dividend payout ratio (DPR) is currently 74.59%.

Insider Activity

In other Johnson & Johnson news, VP Robert J. Decker sold 6,999 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $165.88, for a total value of $1,160,994.12. Following the completion of the sale, the vice president now directly owns 21,001 shares in the company, valued at $3,483,645.88. This represents a 25.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark A. Weinberger acquired 1,000 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were acquired at an average price of $147.22 per share, for a total transaction of $147,220.00. Following the acquisition, the director now directly owns 1,000 shares in the company, valued at $147,220. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.16% of the stock is currently owned by company insiders.

Institutional Trading of Johnson & Johnson

Several hedge funds have recently bought and sold shares of JNJ. American Investment Services Inc. acquired a new position in shares of Johnson & Johnson during the fourth quarter worth about $1,462,000. BridgePort Financial Solutions LLC acquired a new position in Johnson & Johnson during the 4th quarter worth approximately $412,000. Park Square Financial Group LLC bought a new position in shares of Johnson & Johnson during the 4th quarter worth approximately $331,000. Total Wealth Planning & Management Inc. acquired a new stake in shares of Johnson & Johnson in the fourth quarter valued at approximately $628,000. Finally, Menard Financial Group LLC lifted its position in shares of Johnson & Johnson by 11.1% in the fourth quarter. Menard Financial Group LLC now owns 1,866 shares of the company’s stock worth $270,000 after purchasing an additional 187 shares in the last quarter. 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.