Johnson & Johnson (NYSE:JNJ) Shares Sold by Thoroughbred Financial Services LLC

Thoroughbred Financial Services LLC trimmed its position in Johnson & Johnson (NYSE:JNJ) by 19.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,537 shares of the company’s stock after selling 9,468 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Johnson & Johnson were worth $6,096,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of JNJ. Christopher J. Hasenberg Inc bought a new position in Johnson & Johnson in the 1st quarter valued at about $31,000. Keener Financial Planning LLC acquired a new position in Johnson & Johnson in the fourth quarter worth approximately $40,000. WFA Asset Management Corp grew its holdings in Johnson & Johnson by 61.4% during the fourth quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock valued at $40,000 after purchasing an additional 97 shares during the last quarter. Vermillion & White Wealth Management Group LLC acquired a new position in Johnson & Johnson during the fourth quarter valued at approximately $44,000. Finally, Disciplined Equity Management Inc. bought a new stake in shares of Johnson & Johnson in the fourth quarter valued at approximately $45,000. 69.55% of the stock is owned by institutional investors and hedge funds.

Johnson & Johnson Price Performance

NYSE:JNJ traded up $0.90 on Tuesday, reaching $150.14. 1,700,777 shares of the company’s stock traded hands, compared to its average volume of 7,230,960. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $175.97. The company has a quick ratio of 0.94, a current ratio of 1.17 and a debt-to-equity ratio of 0.36. The stock has a 50-day simple moving average of $147.95 and a 200-day simple moving average of $153.41. The firm has a market cap of $361.34 billion, a PE ratio of 9.37, a P/E/G ratio of 2.52 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $0.07. The business had revenue of $21.38 billion during the quarter, compared to analyst estimates of $21.39 billion. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.68 earnings per share. Equities research analysts forecast that Johnson & Johnson will post 10.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

JNJ has been the subject of a number of analyst reports. The Goldman Sachs Group started coverage on Johnson & Johnson in a report on Thursday, May 30th. They set a “neutral” rating and a $160.00 price objective for the company. Morgan Stanley cut their target price on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 17th. HSBC raised Johnson & Johnson from a “hold” rating to a “buy” rating and boosted their target price for the stock from $169.00 to $170.00 in a report on Thursday, April 18th. Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 target price on shares of Johnson & Johnson in a research report on Monday, June 17th. Finally, Bank of America cut their target price on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. Eight equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $174.07.

Johnson & Johnson Company Profile

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.