Johnson & Johnson (NYSE:JNJ) Trading 1.2% Higher – Here’s What Happened

Shares of Johnson & Johnson (NYSE:JNJ) shot up 1.2% during trading on Wednesday . The stock traded as high as $155.38 and last traded at $155.16. 2,864,791 shares traded hands during trading, a decline of 63% from the average session volume of 7,702,031 shares. The stock had previously closed at $153.25.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 25th. Morgan Stanley cut their price objective on shares of Johnson & Johnson from $175.00 to $163.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. Royal Bank of Canada reiterated an “outperform” rating and set a $181.00 target price on shares of Johnson & Johnson in a report on Wednesday. Argus upgraded Johnson & Johnson to a “strong-buy” rating in a report on Friday, January 24th. Finally, Wells Fargo & Company decreased their price objective on Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Nine analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $171.33.

Johnson & Johnson Stock Performance

The company’s fifty day simple moving average is $159.16 and its 200 day simple moving average is $155.99. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $373.00 billion, a price-to-earnings ratio of 23.28, a P/E/G ratio of 2.56 and a beta of 0.47.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.05. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. The firm had revenue of $22.52 billion for the quarter, compared to analysts’ expectations of $22.44 billion. During the same period in the prior year, the firm earned $2.29 EPS. The business’s revenue was up 5.3% on a year-over-year basis. On average, equities research analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were given a $1.24 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.20%. Johnson & Johnson’s payout ratio is presently 74.59%.

Insider Buying and Selling

In other Johnson & Johnson news, VP Robert J. Decker sold 6,999 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $165.88, for a total transaction of $1,160,994.12. Following the transaction, the vice president now owns 21,001 shares in the company, valued at $3,483,645.88. This trade represents a 25.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Timothy Schmid sold 403 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $156.15, for a total value of $62,928.45. Following the sale, the executive vice president now owns 15,098 shares of the company’s stock, valued at approximately $2,357,552.70. The trade was a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.16% of the stock is owned by insiders.

Hedge Funds Weigh In On Johnson & Johnson

Hedge funds and other institutional investors have recently modified their holdings of the business. IFS Advisors LLC lifted its stake in shares of Johnson & Johnson by 138.9% in the 4th quarter. IFS Advisors LLC now owns 172 shares of the company’s stock valued at $25,000 after acquiring an additional 100 shares during the last quarter. WealthTrak Capital Management LLC acquired a new position in Johnson & Johnson in the 4th quarter worth about $26,000. Mountain Hill Investment Partners Corp. bought a new position in Johnson & Johnson in the fourth quarter valued at about $29,000. Bay Harbor Wealth Management LLC acquired a new stake in shares of Johnson & Johnson during the fourth quarter valued at about $32,000. Finally, Conquis Financial LLC acquired a new position in shares of Johnson & Johnson in the fourth quarter valued at approximately $33,000. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Company Profile

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.