Johnson & Johnson (NYSE:JNJ) Trading Down 0.7% – What’s Next?

Johnson & Johnson (NYSE:JNJ) shares fell 0.7% during mid-day trading on Tuesday . The stock traded as low as $153.43 and last traded at $153.48. 955,913 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 7,048,502 shares. The stock had previously closed at $154.54.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Morgan Stanley boosted their target price on shares of Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Royal Bank of Canada upped their price objective on 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 report on Wednesday, October 16th. Guggenheim upped their price target on Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Finally, Wolfe Research began coverage on Johnson & Johnson in a report on Friday, November 15th. They set an “outperform” rating and a $190.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $175.94.

Johnson & Johnson Price Performance

The business’s 50 day moving average price is $159.52 and its 200-day moving average price is $156.38. The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45. The company has a market cap of $374.12 billion, a PE ratio of 22.49, a price-to-earnings-growth ratio of 2.77 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last issued its 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. The firm had revenue of $22.47 billion for the quarter, compared to analysts’ expectations of $22.17 billion. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. Johnson & Johnson’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the company posted $2.66 earnings per share. As a group, analysts forecast that Johnson & Johnson will post 9.93 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be paid a dividend of $1.24 per share. The ex-dividend date is Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a yield of 3.19%. Johnson & Johnson’s payout ratio is currently 71.78%.

Insider Buying and Selling at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $165.06, for a total value of $930,113.10. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.16% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Johnson & Johnson

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp increased its holdings in shares of Johnson & Johnson by 0.9% during the third quarter. State Street Corp now owns 134,245,811 shares of the company’s stock valued at $21,755,874,000 after purchasing an additional 1,154,088 shares during the period. Geode Capital Management LLC grew its position in Johnson & Johnson by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 56,106,884 shares of the company’s stock valued at $9,064,149,000 after buying an additional 1,004,763 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Johnson & Johnson by 10.8% during 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. FMR LLC raised its position in shares of Johnson & Johnson by 7.4% during the 3rd quarter. FMR LLC now owns 18,316,920 shares of the company’s stock worth $2,968,440,000 after buying an additional 1,265,748 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Johnson & Johnson by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,639,368 shares of the company’s stock worth $2,858,543,000 after acquiring an additional 102,502 shares during the period. 69.55% of the stock is owned by institutional investors.

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.