Johnson & Johnson (NYSE:JNJ) Stock Price Down 1.1% – What’s Next?

Johnson & Johnson (NYSE:JNJ) shares were down 1.1% during mid-day trading on Friday . The stock traded as low as $189.42 and last traded at $190.38. Approximately 6,846,087 shares were traded during trading, a decline of 23% from the average daily volume of 8,902,778 shares. The stock had previously closed at $192.47.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on JNJ. Daiwa America upgraded Johnson & Johnson from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Sanford C. Bernstein boosted their price objective on Johnson & Johnson from $172.00 to $193.00 and gave the company a “market perform” rating in a report on Monday, October 6th. The Goldman Sachs Group boosted their price objective on Johnson & Johnson from $186.00 to $212.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Piper Sandler reaffirmed an “overweight” rating on shares of Johnson & Johnson in a research report on Thursday, July 17th. Finally, Argus set a $210.00 price objective on Johnson & Johnson in a research report on Wednesday, October 15th. Three analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and a consensus price target of $199.05.

Johnson & Johnson Price Performance

The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.07. The stock has a market capitalization of $458.69 billion, a P/E ratio of 18.38, a price-to-earnings-growth ratio of 2.24 and a beta of 0.40. The firm has a 50-day moving average price of $182.26 and a 200 day moving average price of $166.25.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Wednesday, August 30th. The company reported $2.26 earnings per share for the quarter. The business had revenue of $24.02 billion during the quarter. Johnson & Johnson had a return on equity of 32.73% and a net margin of 27.26%. On average, analysts expect that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 25th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Tuesday, November 25th. Johnson & Johnson’s dividend payout ratio (DPR) is 50.19%.

Insiders Place Their Bets

In related news, EVP Jennifer L. Taubert sold 56,471 shares of Johnson & Johnson stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $177.81, for a total transaction of $10,041,108.51. Following the transaction, the executive vice president directly owned 178,013 shares in the company, valued at approximately $31,652,491.53. The trade was a 24.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Johnson & Johnson

Large investors have recently made changes to their positions in the business. Evolution Wealth Management Inc. bought a new stake in shares of Johnson & Johnson in the second quarter worth about $27,000. Clayton Financial Group LLC bought a new stake in shares of Johnson & Johnson in the third quarter worth about $28,000. Semmax Financial Advisors Inc. increased its holdings in shares of Johnson & Johnson by 55.0% in the second quarter. Semmax Financial Advisors Inc. now owns 203 shares of the company’s stock worth $31,000 after purchasing an additional 72 shares during the last quarter. GFG Capital LLC bought a new stake in shares of Johnson & Johnson in the second quarter worth about $35,000. Finally, Stone House Investment Management LLC bought a new stake in shares of Johnson & Johnson in the first quarter worth about $47,000. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Company Profile

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.