Suvretta Capital Management LLC Has $22.44 Million Position in Johnson & Johnson (NYSE:JNJ)

Suvretta Capital Management LLC grew its position in Johnson & Johnson (NYSE:JNJ) by 53.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 138,447 shares of the company’s stock after purchasing an additional 48,350 shares during the quarter. Suvretta Capital Management LLC’s holdings in Johnson & Johnson were worth $22,437,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of JNJ. Innealta Capital LLC acquired a new stake in shares of Johnson & Johnson in the second quarter valued at about $27,000. Highline Wealth Partners LLC acquired a new stake in Johnson & Johnson in the 3rd quarter valued at approximately $31,000. RPg Family Wealth Advisory LLC bought a new position in Johnson & Johnson in the 3rd quarter worth approximately $35,000. Mowery & Schoenfeld Wealth Management LLC lifted its holdings in shares of Johnson & Johnson by 58.7% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock worth $40,000 after buying an additional 91 shares during the last quarter. Finally, Activest Wealth Management acquired a new stake in shares of Johnson & Johnson in the third quarter worth $40,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Stock Up 0.6 %

Shares of JNJ opened at $155.40 on Friday. The business’s 50 day simple moving average is $159.33 and its 200-day simple moving average is $156.38. Johnson & Johnson has a one year low of $143.13 and a one year high of $168.85. The company has a market capitalization of $374.14 billion, a P/E ratio of 22.49, a PEG ratio of 2.76 and a beta of 0.53. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, topping the consensus estimate of $2.21 by $0.21. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The company had revenue of $22.47 billion for the quarter, compared to analysts’ expectations of $22.17 billion. During the same quarter in the prior year, the business earned $2.66 earnings per share. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, sell-side analysts predict that Johnson & Johnson will post 9.93 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be given a dividend of $1.24 per share. The ex-dividend date is Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.19%. Johnson & Johnson’s payout ratio is 71.78%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Wells Fargo & Company upped their target price on shares of Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Royal Bank of Canada lifted their target price on Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Citigroup upped their price target on Johnson & Johnson from $180.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 14th. Finally, Morgan Stanley lifted their price target on shares of Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $175.94.

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.