Sit Investment Associates Inc. Buys 41,075 Shares of Johnson & Johnson (NYSE:JNJ)

Sit Investment Associates Inc. raised its stake in shares of Johnson & Johnson (NYSE:JNJ) by 166.7% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 65,720 shares of the company’s stock after purchasing an additional 41,075 shares during the period. Sit Investment Associates Inc.’s holdings in Johnson & Johnson were worth $9,504,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. IFS Advisors LLC raised its stake in Johnson & Johnson by 138.9% during the 4th quarter. IFS Advisors LLC now owns 172 shares of the company’s stock worth $25,000 after acquiring an additional 100 shares during the period. WealthTrak Capital Management LLC bought a new stake in shares of Johnson & Johnson during the 4th quarter valued at $26,000. Mountain Hill Investment Partners Corp. purchased a new position in shares of Johnson & Johnson during the 4th quarter valued at $29,000. Bay Harbor Wealth Management LLC purchased a new stake in Johnson & Johnson in the 4th quarter worth $32,000. Finally, Conquis Financial LLC bought a new stake in Johnson & Johnson during the fourth quarter valued at about $33,000. Institutional investors own 69.55% of the company’s stock.

Insider Buying and Selling at Johnson & Johnson

In other news, VP Robert J. Decker sold 6,999 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $165.88, for a total transaction of $1,160,994.12. Following the transaction, the vice president now directly owns 21,001 shares of the company’s stock, valued at approximately $3,483,645.88. This trade represents a 25.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Timothy Schmid sold 403 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $156.15, for a total value of $62,928.45. Following the completion of the sale, the executive vice president now owns 15,098 shares of the company’s stock, valued at $2,357,552.70. The trade was a 2.60 % decrease in their position. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

JNJ has been the subject of several research analyst reports. Barclays increased their target price on Johnson & Johnson from $159.00 to $166.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 28th. Leerink Partners reduced their price objective on shares of Johnson & Johnson from $182.00 to $169.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. Bank of America upped their target price on shares of Johnson & Johnson from $159.00 to $171.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 5th. Morgan Stanley reduced their price target on shares of Johnson & Johnson from $175.00 to $163.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $181.00 price objective on shares of Johnson & Johnson in a research report on Wednesday. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Johnson & Johnson has a consensus rating of “Moderate Buy” and a consensus price target of $171.33.

Johnson & Johnson Trading Down 4.3 %

Shares of JNJ opened at $153.03 on Friday. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $169.99. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.43. The company’s fifty day simple moving average is $159.75 and its 200-day simple moving average is $155.84. The company has a market cap of $368.77 billion, a P/E ratio of 23.01, a P/E/G ratio of 2.56 and a beta of 0.47.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.05. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. The business had revenue of $22.52 billion during the quarter, compared to analyst estimates of $22.44 billion. During the same quarter in the previous year, the business earned $2.29 earnings per share. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, analysts expect that Johnson & Johnson will post 10.58 EPS for the current year.

About Johnson & Johnson

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.