Johnson & Johnson (NYSE:JNJ) Trading 0% Higher – Here’s Why

by · The Cerbat Gem

Johnson & Johnson (NYSE:JNJ – Get Free Report)’s stock price traded up 0% during mid-day trading on Wednesday . The company traded as high as $164.45 and last traded at $163.51. 1,096,675 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 6,989,499 shares. The stock had previously closed at $163.45.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Morgan Stanley increased their price target on shares of Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Wells Fargo & Company raised 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. The Goldman Sachs Group decreased their price objective on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a report on Friday, July 19th. Citigroup boosted their target price on Johnson & Johnson from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Daiwa America cut Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $175.93.

View Our Latest Stock Report on Johnson & Johnson

Johnson & Johnson Stock Up 0.9 %

The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 1.07. The business’s 50 day moving average is $163.14 and its 200-day moving average is $154.84. The stock has a market cap of $396.96 billion, a price-to-earnings ratio of 10.24, a PEG ratio of 2.65 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ – Get Free Report) last issued its quarterly earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.21. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The firm had revenue of $22.47 billion for the quarter, compared to analyst estimates of $22.17 billion. During the same period in the previous year, the company posted $2.66 earnings per share. The business’s revenue was up 5.2% on a year-over-year basis. On average, sell-side analysts predict that Johnson & Johnson will post 10 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be issued a $1.24 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $4.96 annualized dividend and a dividend yield of 3.01%. Johnson & Johnson’s dividend payout ratio is presently 30.92%.

Insider Buying and Selling at Johnson & Johnson

In related news, VP Robert J. Decker sold 5,635 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of the sale, the vice president now directly owns 18,973 shares in the company, valued at approximately $3,131,683.38. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.16% of the stock is owned by company insiders.

Hedge Funds Weigh In On Johnson & Johnson

Large investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its stake in shares of Johnson & Johnson by 16.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock valued at $3,453,978,000 after purchasing an additional 3,139,499 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Johnson & Johnson by 10.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 18,780,645 shares of the company’s stock valued at $2,744,979,000 after buying an additional 1,831,751 shares during the period. Ameriprise Financial Inc. increased its position in shares of Johnson & Johnson by 5.5% during the second quarter. Ameriprise Financial Inc. now owns 14,374,397 shares of the company’s stock worth $2,100,427,000 after acquiring an additional 754,200 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Johnson & Johnson by 16.2% in the second quarter. Dimensional Fund Advisors LP now owns 13,147,352 shares of the company’s stock valued at $1,921,565,000 after acquiring an additional 1,829,257 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in Johnson & Johnson by 5.8% in the second quarter. American Century Companies Inc. now owns 8,014,213 shares of the company’s stock valued at $1,171,357,000 after purchasing an additional 437,637 shares during the period. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Company Profile

(Get Free Report)

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.

Featured Stories