Johnson & Johnson (NYSE:JNJ) Shares Up 0.8% – Here’s What Happened

Johnson & Johnson (NYSE:JNJ)’s share price traded up 0.8% during mid-day trading on Monday . The stock traded as high as $157.02 and last traded at $156.43. 1,170,596 shares changed hands during trading, a decline of 83% from the average session volume of 7,027,271 shares. The stock had previously closed at $155.17.

Wall Street Analyst Weigh In

Several research firms have recently commented on JNJ. Guggenheim boosted their price target on shares of Johnson & Johnson from $156.00 to $162.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 14th. Wells Fargo & Company lifted their price target on Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Morgan Stanley raised their price objective on Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Finally, Royal Bank of Canada boosted 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. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $175.94.

Johnson & Johnson Price Performance

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 firm’s fifty day moving average price is $159.52 and its 200 day moving average price is $156.38. The firm has a market capitalization of $374.12 billion, a PE ratio of 22.49, a P/E/G ratio of 2.77 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.21. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The business had revenue of $22.47 billion during the quarter, compared to analyst estimates of $22.17 billion. During the same quarter last year, the business posted $2.66 EPS. The company’s revenue was up 5.2% on a year-over-year basis. As a group, equities analysts forecast that Johnson & Johnson will post 9.93 earnings per share for the current 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 is Tuesday, November 26th. This represents a $4.96 annualized dividend and a yield of 3.19%. Johnson & Johnson’s dividend payout ratio is presently 71.78%.

Insider Activity

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $165.06, for a total transaction of $930,113.10. Following the transaction, the vice president now owns 18,973 shares in the company, valued at approximately $3,131,683.38. This represents a 22.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Franklin Resources Inc. boosted its holdings 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 during the last quarter. Tidal Investments LLC lifted its position in shares of Johnson & Johnson by 11.1% in the third quarter. Tidal Investments LLC now owns 186,860 shares of the company’s stock valued at $30,283,000 after acquiring an additional 18,605 shares in the last quarter. Destination Wealth Management boosted its stake in shares of Johnson & Johnson by 2.7% in the third quarter. Destination Wealth Management now owns 268,537 shares of the company’s stock worth $43,519,000 after acquiring an additional 7,133 shares during the last quarter. Wilmington Savings Fund Society FSB increased its position in shares of Johnson & Johnson by 112.4% during the third quarter. Wilmington Savings Fund Society FSB now owns 501,138 shares of the company’s stock worth $81,214,000 after purchasing an additional 265,215 shares in the last quarter. Finally, Arvest Bank Trust Division purchased a new position in Johnson & Johnson in the 3rd quarter valued at $14,341,000. 69.55% of the stock is owned by institutional investors and hedge funds.

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.