Johnson & Johnson (NYSE:JNJ) Stock Price Up 0.3% – Here’s What Happened

Johnson & Johnson (NYSE:JNJ) shares shot up 0.3% on Monday . The stock traded as high as $157.58 and last traded at $155.92. 1,432,065 shares changed hands during trading, a decline of 79% from the average session volume of 6,966,644 shares. The stock had previously closed at $155.47.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. Wells Fargo & Company boosted their price target on Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Daiwa Capital Markets cut Johnson & Johnson from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $160.00 to $150.00 in a research note on Tuesday, July 23rd. Sanford C. Bernstein boosted their price target on Johnson & Johnson from $161.00 to $171.00 in a research note on Thursday, July 18th. Finally, Royal Bank of Canada raised their price objective on shares of Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and an average target price of $175.00.

Johnson & Johnson Price Performance

The company has a market cap of $369.04 billion, a PE ratio of 22.18, a P/E/G ratio of 2.71 and a beta of 0.53. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45. The firm has a 50 day moving average of $162.10 and a two-hundred day moving average of $156.01.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.21. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The business had revenue of $22.47 billion for the quarter, compared to analysts’ expectations of $22.17 billion. During the same period in the prior year, the firm posted $2.66 EPS. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. Research analysts predict that Johnson & Johnson will post 9.93 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be paid a $1.24 dividend. The ex-dividend date is Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.24%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 71.78%.

Insider Buying and Selling at Johnson & Johnson

In other news, VP Robert J. Decker sold 5,635 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $165.06, for a total value of $930,113.10. Following the transaction, the vice president now owns 18,973 shares of the company’s stock, valued at $3,131,683.38. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Johnson & Johnson

Hedge funds have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. bought a new position in Johnson & Johnson during the first quarter valued at approximately $765,000. Empowered Funds LLC raised its stake in Johnson & Johnson by 46.7% during the first quarter. Empowered Funds LLC now owns 101,237 shares of the company’s stock valued at $16,015,000 after purchasing an additional 32,244 shares in the last quarter. Concurrent Investment Advisors LLC lifted its holdings in shares of Johnson & Johnson by 0.8% in the 1st quarter. Concurrent Investment Advisors LLC now owns 72,368 shares of the company’s stock valued at $11,448,000 after acquiring an additional 608 shares during the last quarter. Bey Douglas LLC lifted its position in Johnson & Johnson by 4.6% in the first quarter. Bey Douglas LLC now owns 1,826 shares of the company’s stock worth $289,000 after buying an additional 81 shares during the last quarter. Finally, Nixon Peabody Trust Co. grew its holdings in Johnson & Johnson by 4.6% during the 1st quarter. Nixon Peabody Trust Co. now owns 111,636 shares of the company’s stock valued at $17,660,000 after purchasing an additional 4,942 shares during the last quarter. Institutional investors 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.