Johnson & Johnson (NYSE:JNJ) Short Interest Down 15.0% in July

Johnson & Johnson (NYSE:JNJ) was the target of a significant decline in short interest in July. As of July 15th, there was short interest totalling 17,990,000 shares, a decline of 15.0% from the June 30th total of 21,170,000 shares. Currently, 0.8% of the company’s stock are sold short. Based on an average daily trading volume, of 7,350,000 shares, the days-to-cover ratio is presently 2.4 days.

Johnson & Johnson Price Performance

JNJ stock traded down $2.08 during trading on Monday, hitting $158.56. The company had a trading volume of 5,583,202 shares, compared to its average volume of 7,337,399. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. The company has a fifty day moving average price of $148.88 and a two-hundred day moving average price of $153.10. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $175.97. The company has a market cap of $381.69 billion, a P/E ratio of 9.89, a P/E/G ratio of 2.63 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.71 by $0.11. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The business had revenue of $22.45 billion for the quarter, compared to analyst estimates of $22.33 billion. During the same quarter in the prior year, the firm earned $2.80 EPS. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. Equities research analysts expect that Johnson & Johnson will post 10.07 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th will be given a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 3.13%. The ex-dividend date is Tuesday, August 27th. Johnson & Johnson’s payout ratio is presently 30.92%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Sunday, June 30th. TD Cowen cut their price objective on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Morgan Stanley boosted their target price on Johnson & Johnson from $167.00 to $169.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. The Goldman Sachs Group decreased their price target on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a research note on Friday, July 19th. Finally, HSBC raised Johnson & Johnson from a “hold” rating to a “buy” rating and raised their price objective for the company from $169.00 to $170.00 in a research note on Thursday, April 18th. Eight equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $173.00.

Hedge Funds Weigh In On Johnson & Johnson

Large investors have recently modified their holdings of the stock. 4J Wealth Management LLC increased its stake in shares of Johnson & Johnson by 2.2% in the 4th quarter. 4J Wealth Management LLC now owns 2,835 shares of the company’s stock worth $444,000 after acquiring an additional 62 shares in the last quarter. My Personal CFO LLC increased its stake in shares of Johnson & Johnson by 1.4% during the fourth quarter. My Personal CFO LLC now owns 4,550 shares of the company’s stock valued at $713,000 after purchasing an additional 62 shares in the last quarter. Eagle Strategies LLC lifted its holdings in shares of Johnson & Johnson by 1.8% during the fourth quarter. Eagle Strategies LLC now owns 3,589 shares of the company’s stock valued at $563,000 after purchasing an additional 63 shares during the last quarter. Brookmont Capital Management grew its stake in shares of Johnson & Johnson by 0.4% in the 4th quarter. Brookmont Capital Management now owns 14,852 shares of the company’s stock worth $2,328,000 after buying an additional 64 shares during the last quarter. Finally, Alliance Wealth Advisors LLC UT increased its position in Johnson & Johnson by 1.4% during the 4th quarter. Alliance Wealth Advisors LLC UT now owns 4,714 shares of the company’s stock valued at $739,000 after buying an additional 64 shares in the last quarter. 69.55% of the stock is currently owned by institutional investors and hedge funds.

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.