Johnson & Johnson (NYSE:JNJ) Trading Up 1.5% – Here’s What Happened

Shares of Johnson & Johnson (NYSE:JNJ) rose 1.5% during mid-day trading on Wednesday . The company traded as high as $157.17 and last traded at $157.25. Approximately 1,637,742 shares were traded during trading, a decline of 81% from the average daily volume of 8,813,844 shares. The stock had previously closed at $154.99.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on JNJ. Wolfe Research started coverage on Johnson & Johnson in a research report on Friday, November 15th. They issued an “outperform” rating and a $190.00 price objective for the company. Argus raised shares of Johnson & Johnson to a “strong-buy” rating in a report on Friday, January 24th. Wells Fargo & Company decreased their price objective on shares of Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Morgan Stanley reduced their price target on shares of Johnson & Johnson from $175.00 to $163.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. Finally, Raymond James lowered their price objective on Johnson & Johnson from $170.00 to $165.00 and set an “outperform” rating on the stock in a report on Thursday, January 23rd. Nine equities research 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 company. According to data from MarketBeat.com, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and a consensus price target of $170.67.

Johnson & Johnson Trading Up 1.7 %

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 company’s 50-day moving average is $148.12 and its 200-day moving average is $155.85. The stock has a market capitalization of $379.67 billion, a price-to-earnings ratio of 23.72, a PEG ratio of 2.50 and a beta of 0.52.

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

Johnson & Johnson Dividend Announcement

The business 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. The ex-dividend date is Tuesday, February 18th. This represents a $4.96 annualized dividend and a yield of 3.15%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 74.59%.

Insiders Place Their Bets

In other news, EVP Timothy Schmid sold 403 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $156.15, for a total transaction of $62,928.45. Following the sale, the executive vice president now owns 15,098 shares of the company’s stock, valued at approximately $2,357,552.70. This represents a 2.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark A. Weinberger purchased 1,000 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was acquired at an average price of $147.22 per share, with a total value of $147,220.00. Following the purchase, the director now owns 1,000 shares of the company’s stock, valued at approximately $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 insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vinva Investment Management Ltd raised its holdings 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 acquiring an additional 7,110 shares in the last quarter. Financial Counselors Inc. lifted its position in shares of Johnson & Johnson by 5.3% during the 3rd quarter. Financial Counselors Inc. now owns 185,093 shares of the company’s stock worth $29,996,000 after purchasing an additional 9,309 shares during the last quarter. Oregon Pacific Wealth Management LLC acquired a new position in shares of Johnson & Johnson during the fourth quarter worth $949,000. Meridian Investment Counsel Inc. raised 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 buying an additional 3,710 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Johnson & Johnson by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,639,368 shares of the company’s stock worth $2,858,543,000 after buying an additional 102,502 shares during the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

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.