Johnson & Johnson (NYSE:JNJ) Stock Price Down 0.2% – Here’s What Happened

Johnson & Johnson (NYSE:JNJ) shares traded down 0.2% on Monday . The stock traded as low as $142.93 and last traded at $143.94. 1,785,692 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 4,473,532 shares. The stock had previously closed at $144.19.

Analyst Upgrades and Downgrades

JNJ has been the subject of several analyst reports. Morgan Stanley upped their price objective on Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Bank of America reaffirmed a “neutral” rating and issued a $166.00 price objective on shares of Johnson & Johnson in a research note on Tuesday, December 10th. Wolfe Research started coverage on Johnson & Johnson in a research note on Friday, November 15th. They set an “outperform” rating and a $190.00 price objective for the company. Royal Bank of Canada raised their target price on shares of Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research note on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Johnson & Johnson has a consensus rating of “Moderate Buy” and an average target price of $174.71.

Johnson & Johnson Stock Performance

The company has a market cap of $342.12 billion, a PE ratio of 20.56, a PEG ratio of 2.52 and a beta of 0.51. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.79 and a current ratio of 1.03. The firm’s 50 day moving average is $150.75 and its 200-day moving average is $156.23.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 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 the consensus estimate of $22.17 billion. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.66 earnings per share. On average, research analysts anticipate that Johnson & Johnson will post 9.94 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be issued a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date of this dividend is Tuesday, February 18th. Johnson & Johnson’s dividend payout ratio is presently 71.78%.

Insiders Place Their Bets

In related news, Director Mark A. Weinberger acquired 1,000 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was purchased at an average price of $147.22 per share, with a total value of $147,220.00. Following the transaction, the director now owns 1,000 shares of the company’s stock, valued at approximately $147,220. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 0.16% of the stock is owned by insiders.

Institutional Inflows and Outflows

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

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.