Johnson & Johnson (NYSE:JNJ) Sees Large Increase in Short Interest

Johnson & Johnson (NYSE:JNJ) saw a significant increase in short interest in June. As of June 30th, there was short interest totalling 21,170,000 shares, an increase of 8.2% from the June 15th total of 19,560,000 shares. Based on an average daily volume of 7,490,000 shares, the days-to-cover ratio is presently 2.8 days. Approximately 0.9% of the company’s shares are short sold.

Johnson & Johnson Stock Performance

Shares of NYSE JNJ traded down $1.16 during trading hours on Thursday, reaching $155.42. 9,339,305 shares of the stock were exchanged, compared to its average volume of 7,329,118. The firm has a market capitalization of $374.05 billion, a price-to-earnings ratio of 9.77, a P/E/G ratio of 2.54 and a beta of 0.52. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.94 and a current ratio of 1.17. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $175.97. The stock’s fifty day simple moving average is $148.15 and its 200 day simple moving average is $153.39.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, topping analysts’ consensus estimates of $2.71 by $0.11. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. The firm had revenue of $22.45 billion for the quarter, compared to analyst estimates of $22.33 billion. During the same quarter last year, the company earned $2.80 EPS. The company’s revenue was up 4.3% on a year-over-year basis. Sell-side analysts predict that Johnson & Johnson will post 10.49 EPS for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th will be issued a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date is Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio is presently 30.92%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 price target on shares of Johnson & Johnson in a research report on Thursday. TD Cowen reduced their price target on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a research report on Thursday. TD Securities reduced their price target on Johnson & Johnson from $195.00 to $185.00 in a research report on Thursday. HSBC raised Johnson & Johnson from a “hold” rating to a “buy” rating and increased their price target for the company from $169.00 to $170.00 in a research report on Thursday, April 18th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research note on Monday, July 1st. Eight equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $175.29.

Institutional Investors Weigh In On Johnson & Johnson

A number of large investors have recently modified their holdings of the business. Pure Financial Advisors LLC boosted its holdings in shares of Johnson & Johnson by 11.7% in the 2nd quarter. Pure Financial Advisors LLC now owns 18,667 shares of the company’s stock valued at $2,728,000 after purchasing an additional 1,954 shares in the last quarter. Hayek Kallen Investment Management boosted its holdings in shares of Johnson & Johnson by 2.8% in the 2nd quarter. Hayek Kallen Investment Management now owns 37,420 shares of the company’s stock valued at $5,469,000 after purchasing an additional 1,007 shares in the last quarter. S.E.E.D. Planning Group LLC boosted its holdings in shares of Johnson & Johnson by 9.3% during the 2nd quarter. S.E.E.D. Planning Group LLC now owns 36,438 shares of the company’s stock valued at $5,326,000 after acquiring an additional 3,094 shares in the last quarter. Naples Global Advisors LLC boosted its holdings in shares of Johnson & Johnson by 0.4% during the 2nd quarter. Naples Global Advisors LLC now owns 44,638 shares of the company’s stock valued at $6,524,000 after acquiring an additional 193 shares in the last quarter. Finally, Cordatus Wealth Management LLC acquired a new stake in shares of Johnson & Johnson during the 2nd quarter valued at $4,588,000. Institutional investors and hedge funds own 69.55% of the company’s stock.

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.