Johnson & Johnson (NYSE:JNJ) Trading Down 1.4% – Here’s Why

Johnson & Johnson (NYSE:JNJ) shares dropped 1.4% on Thursday . The stock traded as low as $150.76 and last traded at $151.15. Approximately 1,794,861 shares traded hands during trading, a decline of 74% from the average daily volume of 6,970,957 shares. The stock had previously closed at $153.24.

Analyst Ratings Changes

A number of brokerages have recently commented on JNJ. Wells Fargo & Company boosted their price objective on shares of Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Royal Bank of Canada boosted their price objective on Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Daiwa America cut Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Wolfe Research started coverage on shares of Johnson & Johnson in a research report on Friday. They issued an “outperform” rating and a $190.00 target price for the company. Finally, Daiwa Capital Markets cut shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $160.00 to $150.00 in a report on Tuesday, July 23rd. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Johnson & Johnson has a consensus rating of “Moderate Buy” and an average target price of $175.94.

Johnson & Johnson Stock Up 1.4 %

The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79. The company has a market capitalization of $370.75 billion, a price-to-earnings ratio of 22.29, a P/E/G ratio of 2.72 and a beta of 0.53. The firm’s fifty day moving average price is $161.35 and its 200-day moving average price is $156.02.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.21. The firm had revenue of $22.47 billion for the quarter, compared to analyst estimates of $22.17 billion. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period last year, the firm posted $2.66 earnings per share. Sell-side analysts expect that Johnson & Johnson will post 9.93 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be paid a $1.24 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $4.96 annualized dividend and a dividend yield of 3.22%. Johnson & Johnson’s dividend payout ratio is 71.78%.

Insiders Place Their Bets

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of the transaction, the vice president now owns 18,973 shares in the company, valued at approximately $3,131,683.38. This trade represents a 22.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Johnson & Johnson

Several large investors have recently modified their holdings of JNJ. Summit Wealth Partners LLC boosted its position in shares of Johnson & Johnson by 0.6% during the 2nd quarter. Summit Wealth Partners LLC now owns 10,007 shares of the company’s stock valued at $1,463,000 after purchasing an additional 61 shares in the last quarter. Powers Advisory Group LLC boosted its holdings in shares of Johnson & Johnson by 0.6% during the 3rd quarter. Powers Advisory Group LLC now owns 9,489 shares of the company’s stock worth $1,538,000 after buying an additional 61 shares in the last quarter. Citizens & Northern Corp grew its position in shares of Johnson & Johnson by 3.5% during the 2nd quarter. Citizens & Northern Corp now owns 1,884 shares of the company’s stock worth $275,000 after buying an additional 63 shares during the period. Eagle Wealth Strategies LLC increased its stake in shares of Johnson & Johnson by 2.8% in the 3rd quarter. Eagle Wealth Strategies LLC now owns 2,294 shares of the company’s stock valued at $372,000 after acquiring an additional 63 shares in the last quarter. Finally, Epic Trust Investment Advisors LLC lifted its position in shares of Johnson & Johnson by 3.6% during the 2nd quarter. Epic Trust Investment Advisors LLC now owns 1,831 shares of the company’s stock valued at $268,000 after acquiring an additional 64 shares during the period. 69.55% of the stock is currently owned by institutional investors and hedge funds.

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.