Johnson & Johnson (NYSE:JNJ) Stock Price Up 1.1% – Here’s What Happened

Johnson & Johnson (NYSE:JNJ) was up 1.1% during mid-day trading on Thursday . The company traded as high as $156.23 and last traded at $157.04. Approximately 1,371,506 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 8,797,835 shares. The stock had previously closed at $155.26.

Analysts Set New Price Targets

Several research firms have commented on JNJ. Wolfe Research initiated coverage on shares of Johnson & Johnson in a research report on Friday, November 15th. They issued an “outperform” rating and a $190.00 target price for the company. Wells Fargo & Company dropped their price target on shares of Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Citigroup lowered their target price on shares of Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Leerink Partners lowered their target price on shares of Johnson & Johnson from $182.00 to $169.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. Finally, Stifel Nicolaus lowered their price objective on Johnson & Johnson from $170.00 to $155.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. Nine analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $170.67.

Johnson & Johnson Price Performance

The company has a market cap of $376.08 billion, a price-to-earnings ratio of 23.49, a price-to-earnings-growth ratio of 2.46 and a beta of 0.52. The company has a fifty day moving average price of $147.87 and a two-hundred day moving average price of $156.00. 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 posted its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.05. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.35%. The firm had revenue of $22.52 billion for the quarter, compared to the consensus estimate of $22.44 billion. During the same quarter in the previous year, the company earned $2.29 earnings per share. The business’s revenue was up 5.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be given a dividend of $1.24 per share. The ex-dividend date is Tuesday, February 18th. This represents a $4.96 annualized dividend and a dividend yield of 3.18%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 74.59%.

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 shares were acquired at an average price of $147.22 per share, with a total value of $147,220.00. Following the purchase, 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 purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Johnson & Johnson

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. IFS Advisors LLC lifted its position in Johnson & Johnson by 138.9% during the 4th quarter. IFS Advisors LLC now owns 172 shares of the company’s stock worth $25,000 after buying an additional 100 shares in the last quarter. WealthTrak Capital Management LLC bought a new position in Johnson & Johnson in the 4th quarter worth approximately $26,000. Mountain Hill Investment Partners Corp. acquired a new position in Johnson & Johnson during the 4th quarter worth $29,000. Highline Wealth Partners LLC acquired a new stake in shares of Johnson & Johnson in the 3rd quarter valued at $31,000. Finally, Bay Harbor Wealth Management LLC bought a new position in shares of Johnson & Johnson in the 4th quarter valued at about $32,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Company Profile

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.