Johnson & Johnson (NYSE:JNJ) Stock Price Down 0.1% – Here’s What Happened

Shares of Johnson & Johnson (NYSE:JNJ) traded down 0.1% during mid-day trading on Tuesday . The company traded as low as $161.90 and last traded at $162.60. 743,774 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 6,994,185 shares. The stock had previously closed at $162.83.

Wall Street Analyst Weigh In

JNJ has been the subject of several recent analyst reports. Citigroup upped their price objective on shares of Johnson & Johnson from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Morgan Stanley increased their price objective on Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Sanford C. Bernstein boosted their target price on Johnson & Johnson from $161.00 to $171.00 in a research note on Thursday, July 18th. Daiwa America lowered Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Finally, Daiwa Capital Markets downgraded shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $160.00 to $150.00 in a research report on Tuesday, July 23rd. Six investment 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 company’s stock. According to MarketBeat, Johnson & Johnson has a consensus rating of “Moderate Buy” and a consensus price target of $175.93.

Johnson & Johnson Stock Performance

The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 1.07. The stock has a market capitalization of $399.17 billion, a P/E ratio of 10.34, a PEG ratio of 2.65 and a beta of 0.52. The business has a 50-day moving average price of $163.29 and a 200 day moving average price of $154.92.

Johnson & Johnson (NYSE:JNJ) last released its earnings results 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 analysts’ expectations of $22.17 billion. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The company’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.66 earnings per share. As a group, sell-side analysts forecast that Johnson & Johnson will post 10 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm 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. This represents a $4.96 annualized dividend and a dividend yield of 2.99%. The ex-dividend date is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

Insider Buying and Selling at Johnson & Johnson

In other news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of the transaction, the vice president now directly owns 18,973 shares of the company’s stock, valued at $3,131,683.38. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.16% of the company’s stock.

Institutional Trading of Johnson & Johnson

A number of hedge funds have recently bought and sold shares of JNJ. Retirement Planning Group LLC boosted its stake in shares of Johnson & Johnson by 2.6% during the 1st quarter. Retirement Planning Group LLC now owns 5,950 shares of the company’s stock worth $941,000 after acquiring an additional 153 shares during the last quarter. Quad Cities Investment Group LLC increased its position in Johnson & Johnson by 2.9% in the first quarter. Quad Cities Investment Group LLC now owns 2,854 shares of the company’s stock worth $451,000 after buying an additional 80 shares in the last quarter. Evanson Asset Management LLC raised its stake in shares of Johnson & Johnson by 1.2% in the first quarter. Evanson Asset Management LLC now owns 13,731 shares of the company’s stock worth $2,172,000 after buying an additional 169 shares during the period. Beech Hill Advisors Inc. lifted its position in shares of Johnson & Johnson by 2.3% during the 1st quarter. Beech Hill Advisors Inc. now owns 19,831 shares of the company’s stock valued at $3,137,000 after buying an additional 439 shares in the last quarter. Finally, DLK Investment Management LLC grew its stake in shares of Johnson & Johnson by 4.4% during the 1st quarter. DLK Investment Management LLC now owns 31,527 shares of the company’s stock valued at $4,987,000 after acquiring an additional 1,326 shares during the period. Hedge funds and other institutional investors own 69.55% of the company’s stock.

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.