Johnson & Johnson (NYSE:JNJ) Stock Price Down 2.3% – Here’s Why

Johnson & Johnson (NYSE:JNJ)’s stock price traded down 2.3% during mid-day trading on Wednesday . The stock traded as low as $141.44 and last traded at $142.88. 2,989,596 shares changed hands during trading, a decline of 52% from the average session volume of 6,198,114 shares. The stock had previously closed at $146.23.

Wall Street Analyst Weigh In

JNJ has been the topic of several recent research reports. Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a report on Wednesday, October 16th. StockNews.com lowered Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Bank of America reiterated a “neutral” rating and issued a $166.00 price objective on shares of Johnson & Johnson in a report on Tuesday, December 10th. Wells Fargo & Company boosted their target price on shares of Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Finally, Morgan Stanley raised their price target on shares of Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $174.71.

Johnson & Johnson Stock Down 2.8 %

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 company has a market cap of $342.24 billion, a price-to-earnings ratio of 20.57, a P/E/G ratio of 2.52 and a beta of 0.51. The stock’s 50-day moving average is $150.75 and its 200-day moving average is $156.23.

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, topping analysts’ consensus estimates of $2.21 by $0.21. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The company had revenue of $22.47 billion for the quarter, compared to analysts’ expectations of $22.17 billion. During the same quarter in the prior year, the firm earned $2.66 EPS. The business’s revenue was up 5.2% on a year-over-year basis. On average, analysts anticipate that Johnson & Johnson will post 9.94 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date is Tuesday, February 18th. Johnson & Johnson’s dividend payout ratio is currently 71.78%.

Insider Activity

In other news, Director Mark A. Weinberger acquired 1,000 shares of Johnson & Johnson stock in a transaction on Thursday, December 12th. The stock was acquired at an average cost of $147.22 per share, with a total value of $147,220.00. Following the transaction, the director now owns 1,000 shares of the company’s stock, valued at approximately $147,220. This trade represents a ? increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC increased its holdings in Johnson & Johnson by 20,130.0% in the 3rd quarter. International Assets Investment Management LLC now owns 3,454,473 shares of the company’s stock worth $559,832,000 after acquiring an additional 3,437,397 shares during the last quarter. Marshall Wace LLP increased its holdings in shares of Johnson & Johnson by 506.9% in the second quarter. Marshall Wace LLP now owns 3,884,962 shares of the company’s stock worth $567,826,000 after purchasing an additional 3,244,862 shares during the period. Janus Henderson Group PLC raised its position in shares of Johnson & Johnson by 228.1% in the third quarter. Janus Henderson Group PLC now owns 3,389,361 shares of the company’s stock worth $549,223,000 after buying an additional 2,356,359 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Johnson & Johnson by 10.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 18,780,645 shares of the company’s stock worth $2,744,979,000 after buying an additional 1,831,751 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Johnson & Johnson by 16.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 13,147,352 shares of the company’s stock valued at $1,921,565,000 after acquiring an additional 1,829,257 shares in the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

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.