Johnson & Johnson (NYSE:JNJ) Stock Price Down 2.3% – What’s Next?

Johnson & Johnson (NYSE:JNJ)’s share price dropped 2.3% on Tuesday . The stock traded as low as $208.81 and last traded at $209.3250. Approximately 9,861,065 shares changed hands during trading, an increase of 11% from the average daily volume of 8,898,141 shares. The stock had previously closed at $214.17.

Analyst Ratings Changes

JNJ has been the topic of a number of research analyst reports. Argus set a $210.00 target price on shares of Johnson & Johnson in a report on Wednesday, October 15th. JPMorgan Chase & Co. increased their price target on Johnson & Johnson from $185.00 to $200.00 and gave the company a “neutral” rating in a research note on Tuesday, September 16th. Bank of America lifted their price objective on shares of Johnson & Johnson from $204.00 to $220.00 and gave the stock a “neutral” rating in a research report on Monday. Weiss Ratings reissued a “buy (b)” rating on shares of Johnson & Johnson in a research report on Friday, October 31st. Finally, Loop Capital set a $190.00 target price on shares of Johnson & Johnson in a research note on Wednesday, October 22nd. Four investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $208.35.

Johnson & Johnson Stock Down 2.3%

The stock has a fifty day moving average price of $196.61 and a two-hundred day moving average price of $177.85. The company has a market cap of $504.32 billion, a price-to-earnings ratio of 20.21, a P/E/G ratio of 2.36 and a beta of 0.36. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.50.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Wednesday, August 30th. The company reported $2.26 EPS for the quarter. Johnson & Johnson had a net margin of 27.26% and a return on equity of 32.73%. The business had revenue of $24.02 billion for the quarter. As a group, sell-side analysts expect that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 25th were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Tuesday, November 25th. Johnson & Johnson’s payout ratio is presently 50.19%.

Hedge Funds Weigh In On Johnson & Johnson

Hedge funds have recently added to or reduced their stakes in the stock. Abich Financial Wealth Management LLC bought a new position in shares of Johnson & Johnson in the third quarter worth $26,000. Evolution Wealth Management Inc. acquired a new stake in Johnson & Johnson during the second quarter worth about $27,000. Clayton Financial Group LLC bought a new position in Johnson & Johnson in the 3rd quarter valued at about $28,000. Semmax Financial Advisors Inc. raised its position in shares of Johnson & Johnson by 55.0% in the 2nd quarter. Semmax Financial Advisors Inc. now owns 203 shares of the company’s stock valued at $31,000 after buying an additional 72 shares in the last quarter. Finally, GFG Capital LLC bought a new stake in shares of Johnson & Johnson during the 2nd quarter worth approximately $35,000. Institutional investors own 69.55% of the company’s stock.

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.