Johnson & Johnson (NYSE:JNJ) Stock Price Up 2% – Time to Buy?

Johnson & Johnson (NYSE:JNJ)’s share price rose 2% during trading on Wednesday . The company traded as high as $241.46 and last traded at $239.93. Approximately 6,445,433 shares changed hands during trading, a decline of 29% from the average daily volume of 9,042,780 shares. The stock had previously closed at $235.27.

Analyst Ratings Changes

JNJ has been the topic of a number of recent research reports. Citigroup boosted their price target on shares of Johnson & Johnson from $250.00 to $274.00 and gave the stock a “buy” rating in a research note on Wednesday, March 11th. Morgan Stanley set a $253.00 price objective on shares of Johnson & Johnson in a report on Wednesday, March 18th. HSBC upped their target price on shares of Johnson & Johnson from $265.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, March 17th. Wall Street Zen lowered shares of Johnson & Johnson from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Finally, Scotiabank restated an “outperform” rating on shares of Johnson & Johnson in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, Johnson & Johnson presently has an average rating of “Moderate Buy” and an average price target of $236.91.

Johnson & Johnson Stock Performance

The firm has a market capitalization of $577.90 billion, a price-to-earnings ratio of 21.71, a P/E/G ratio of 2.32 and a beta of 0.34. The company has a quick ratio of 0.77, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. The stock has a 50-day moving average price of $236.15 and a 200 day moving average price of $209.61.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Saturday, January 31st. The company reported $2.46 earnings per share for the quarter. Johnson & Johnson had a net margin of 28.46% and a return on equity of 33.04%. The firm had revenue of $24.28 billion for the quarter. On average, analysts forecast that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 24th were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Tuesday, February 24th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 47.06%.

Insider Buying and Selling at Johnson & Johnson

In other Johnson & Johnson news, EVP Vanessa Broadhurst sold 6,197 shares of the firm’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $243.39, for a total value of $1,508,287.83. Following the sale, the executive vice president directly owned 23,003 shares in the company, valued at $5,598,700.17. This trade represents a 21.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Timothy Schmid sold 1,322 shares of Johnson & Johnson stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $245.66, for a total value of $324,762.52. Following the sale, the executive vice president directly owned 25,447 shares of the company’s stock, valued at $6,251,310.02. This trade represents a 4.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 30,142 shares of company stock valued at $7,360,528. Corporate insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Johnson & Johnson

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sierra Capital LLC increased its stake in shares of Johnson & Johnson by 0.5% during the fourth quarter. Sierra Capital LLC now owns 8,144 shares of the company’s stock worth $1,685,000 after acquiring an additional 41 shares during the period. Beaird Harris Wealth Management LLC lifted its position in Johnson & Johnson by 1.8% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 2,422 shares of the company’s stock valued at $501,000 after purchasing an additional 42 shares during the period. Broadleaf Partners LLC lifted its position in Johnson & Johnson by 0.6% in the fourth quarter. Broadleaf Partners LLC now owns 7,348 shares of the company’s stock valued at $1,521,000 after purchasing an additional 43 shares during the period. Jessup Wealth Management Inc boosted its holdings in Johnson & Johnson by 0.6% in the 4th quarter. Jessup Wealth Management Inc now owns 7,574 shares of the company’s stock valued at $1,567,000 after purchasing an additional 44 shares in the last quarter. Finally, Plancorp LLC increased its position in Johnson & Johnson by 0.3% during the 4th quarter. Plancorp LLC now owns 15,889 shares of the company’s stock worth $3,288,000 after purchasing an additional 45 shares during the period. Institutional investors and hedge funds own 69.55% of the company’s stock.

About Johnson & Johnson

Johnson & Johnson is a multinational healthcare company headquartered in New Brunswick, New Jersey, that develops, manufactures and markets a broad range of products across pharmaceuticals, medical devices and previously consumer health. Founded in 1886 by the Johnson family, the company has grown into a global healthcare organization with operations and sales in many countries around the world.

The company’s pharmaceuticals business, organized largely under its Janssen research and development organization, focuses on prescription medicines across therapeutic areas such as immunology, infectious disease, oncology and neuroscience.