Johnson & Johnson (NYSE:JNJ) Stock Price Up 0.5% – Here’s Why

Johnson & Johnson (NYSE:JNJ) shares traded up 0.5% during trading on Tuesday . The stock traded as high as $153.80 and last traded at $153.29. 1,243,787 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 7,941,986 shares. The stock had previously closed at $152.49.

Analyst Ratings Changes

A number of analysts recently weighed in on JNJ shares. Barclays decreased their price target on Johnson & Johnson from $166.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 17th. Leerink Partnrs cut shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 13th. The Goldman Sachs Group upgraded shares of Johnson & Johnson from a “neutral” rating to a “buy” rating and raised their price objective for the company from $157.00 to $172.00 in a research note on Wednesday, April 9th. Morgan Stanley upped their target price on shares of Johnson & Johnson from $164.00 to $169.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 16th. Finally, Guggenheim reiterated a “neutral” rating on shares of Johnson & Johnson in a research report on Wednesday, April 2nd. Eleven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $170.88.

Johnson & Johnson Stock Performance

The company has a market capitalization of $370.24 billion, a PE ratio of 23.07, a price-to-earnings-growth ratio of 2.56 and a beta of 0.42. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.86 and a current ratio of 1.11. The stock’s fifty day simple moving average is $156.06 and its 200-day simple moving average is $153.80.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.59 by $0.18. The firm had revenue of $21.89 billion for the quarter, compared to analyst estimates of $21.65 billion. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. As a group, equities analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th will be given a dividend of $1.30 per share. The ex-dividend date is Tuesday, May 27th. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.24. This represents a $5.20 annualized dividend and a yield of 3.38%. Johnson & Johnson’s dividend payout ratio is 57.84%.

Insiders Place Their Bets

In other news, VP Robert J. Decker sold 6,999 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $165.88, for a total transaction of $1,160,994.12. Following the transaction, the vice president now directly owns 21,001 shares in the company, valued at $3,483,645.88. This represents a 25.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.16% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Johnson & Johnson

Several institutional investors and hedge funds have recently bought and sold shares of the stock. WealthTrak Capital Management LLC acquired a new position in Johnson & Johnson during the fourth quarter valued at approximately $26,000. Mountain Hill Investment Partners Corp. purchased a new position in Johnson & Johnson in the fourth quarter valued at about $29,000. Bay Harbor Wealth Management LLC acquired a new position in shares of Johnson & Johnson during the fourth quarter worth about $32,000. Conquis Financial LLC purchased a new stake in shares of Johnson & Johnson in the fourth quarter worth about $33,000. Finally, Bernard Wealth Management Corp. acquired a new stake in shares of Johnson & Johnson in the fourth quarter valued at about $36,000. Institutional investors and hedge funds own 69.55% of the company’s stock.

About Johnson & Johnson

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.