Johnson & Johnson (NYSE:JNJ) Shares Up 1.3% – Here’s What Happened

Johnson & Johnson (NYSE:JNJ)’s share price traded up 1.3% on Thursday . The company traded as high as $163.69 and last traded at $163.86. 1,553,334 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 7,064,598 shares. The stock had previously closed at $161.72.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company decreased their price target on Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. Citigroup reduced their price target on shares of Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. Royal Bank of Canada reissued an “outperform” rating and issued a $181.00 price target on shares of Johnson & Johnson in a research report on Wednesday, February 19th. Raymond James decreased 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, Stifel Nicolaus reduced their target price on Johnson & Johnson from $170.00 to $155.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. Nine equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $171.33.

Johnson & Johnson Price Performance

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 has a market cap of $394.32 billion, a price-to-earnings ratio of 24.61, a price-to-earnings-growth ratio of 2.56 and a beta of 0.47. The company has a fifty day simple moving average of $158.68 and a two-hundred day simple moving average of $156.21.

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

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were paid a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 3.03%. The ex-dividend date of this dividend was Tuesday, February 18th. Johnson & Johnson’s dividend payout ratio (DPR) is currently 74.59%.

Insider Transactions at Johnson & Johnson

In related news, EVP Timothy Schmid sold 403 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $156.15, for a total transaction of $62,928.45. Following the transaction, the executive vice president now owns 15,098 shares in the company, valued at $2,357,552.70. This trade represents a 2.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Robert J. Decker sold 6,999 shares of Johnson & Johnson stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $165.88, for a total transaction of $1,160,994.12. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Johnson & Johnson

Hedge funds have recently modified their holdings of the stock. IFS Advisors LLC boosted its position in Johnson & Johnson by 138.9% during the fourth quarter. IFS Advisors LLC now owns 172 shares of the company’s stock worth $25,000 after purchasing an additional 100 shares during the period. WealthTrak Capital Management LLC acquired a new stake in shares of Johnson & Johnson during the 4th quarter worth about $26,000. Mountain Hill Investment Partners Corp. acquired a new position in Johnson & Johnson in the fourth quarter worth $29,000. Bay Harbor Wealth Management LLC acquired a new stake in Johnson & Johnson in the 4th quarter valued at about $32,000. Finally, Conquis Financial LLC bought a new stake in shares of Johnson & Johnson during the fourth quarter worth $33,000. 69.55% of the stock is 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.