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

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on JNJ. Morgan Stanley boosted their target price on shares of Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Citigroup raised their price target on shares of Johnson & Johnson from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Daiwa Capital Markets downgraded shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $160.00 to $150.00 in a report on Tuesday, July 23rd. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 14th. Finally, Sanford C. Bernstein upped their price target on shares of Johnson & Johnson from $161.00 to $171.00 in a research note on Thursday, July 18th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $175.00.

Johnson & Johnson Stock Down 0.4 %

The stock has a market cap of $367.55 billion, a P/E ratio of 21.87, a price-to-earnings-growth ratio of 2.71 and a beta of 0.53. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45. The stock’s fifty day moving average price is $161.82 and its 200 day moving average price is $155.99.

Johnson & Johnson (NYSE:JNJ) last issued 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 business had revenue of $22.47 billion for the quarter, compared to analysts’ expectations of $22.17 billion. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period last year, the business earned $2.66 earnings per share. As a group, research analysts forecast that Johnson & Johnson will post 9.93 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, December 10th. Shareholders of record on Tuesday, November 26th will be given a $1.24 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $4.96 annualized dividend and a yield of 3.25%. Johnson & Johnson’s payout ratio is currently 71.78%.

Insider Buying and Selling at Johnson & Johnson

In related news, VP Robert J. Decker sold 5,635 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $165.06, for a total value of $930,113.10. Following the sale, the vice president now directly owns 18,973 shares of the company’s stock, valued at $3,131,683.38. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.16% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Johnson & Johnson

Large investors have recently modified their holdings of the stock. Innealta Capital LLC purchased a new position in Johnson & Johnson in the second quarter worth about $27,000. Highline Wealth Partners LLC purchased a new position in Johnson & Johnson in the third quarter worth about $31,000. RPg Family Wealth Advisory LLC bought a new stake in Johnson & Johnson during the third quarter valued at approximately $35,000. Mowery & Schoenfeld Wealth Management LLC increased its stake in shares of Johnson & Johnson by 58.7% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock worth $40,000 after purchasing an additional 91 shares in the last quarter. Finally, Activest Wealth Management purchased a new stake in Johnson & Johnson in the third quarter worth about $40,000. Institutional investors own 69.55% of the company’s stock.

About Johnson & Johnson

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.