Johnson & Johnson (NYSE:JNJ) Trading Down 0.2% Following Analyst Downgrade

Shares of Johnson & Johnson (NYSE:JNJ) traded down 0.2% during mid-day trading on Friday after Bank of America lowered their price target on the stock from $166.00 to $160.00. Bank of America currently has a neutral rating on the stock. Johnson & Johnson traded as low as $146.61 and last traded at $147.48. 3,098,640 shares changed hands during trading, a decline of 61% from the average session volume of 7,846,918 shares. The stock had previously closed at $147.77.

A number of other equities analysts have also recently issued reports on the stock. Royal Bank of Canada raised their target price on shares of Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research note on Wednesday, October 16th. Wells Fargo & Company increased their price objective on shares of Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. StockNews.com lowered shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research note on Friday. Finally, Wolfe Research started coverage on Johnson & Johnson in a report on Friday, November 15th. They set an “outperform” rating and a $190.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $174.29.

Insider Activity at Johnson & Johnson

In other news, Director Mark A. Weinberger bought 1,000 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was bought at an average cost of $147.22 per share, for a total transaction of $147,220.00. Following the completion of the acquisition, the director now directly owns 1,000 shares in the company, valued at $147,220. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 0.16% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Johnson & Johnson

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its position in Johnson & Johnson by 20,130.0% during the third quarter. International Assets Investment Management LLC now owns 3,454,473 shares of the company’s stock valued at $559,832,000 after buying an additional 3,437,397 shares during the period. Marshall Wace LLP boosted its holdings in shares of Johnson & Johnson by 506.9% during the second quarter. Marshall Wace LLP now owns 3,884,962 shares of the company’s stock worth $567,826,000 after purchasing an additional 3,244,862 shares during the period. Janus Henderson Group PLC grew its position in Johnson & Johnson by 228.1% during the third quarter. Janus Henderson Group PLC now owns 3,389,361 shares of the company’s stock valued at $549,223,000 after purchasing an additional 2,356,359 shares in the last quarter. Franklin Resources Inc. lifted its position in Johnson & Johnson by 11.4% in the 3rd quarter. Franklin Resources Inc. now owns 16,840,069 shares of the company’s stock worth $2,721,355,000 after buying an additional 1,729,281 shares in the last quarter. Finally, Holocene Advisors LP acquired a new position in shares of Johnson & Johnson in the third quarter worth $225,040,000. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Trading Down 0.5 %

The firm has a market capitalization of $353.93 billion, a PE ratio of 21.27, a price-to-earnings-growth ratio of 2.30 and a beta of 0.51. 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 fifty day moving average of $148.86 and a 200-day moving average of $156.01.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, beating the consensus estimate of $2.21 by $0.21. The business had revenue of $22.47 billion during the quarter, compared to analysts’ expectations of $22.17 billion. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.66 EPS. On average, sell-side analysts anticipate that Johnson & Johnson will post 9.94 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, March 4th. Investors of record on Tuesday, February 18th will be issued a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date is Tuesday, February 18th. Johnson & Johnson’s dividend payout ratio is presently 71.78%.

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.