Johnson & Johnson (NYSE:JNJ) Trading 0.9% Higher – Here’s What Happened

Shares of Johnson & Johnson (NYSE:JNJ) were up 0.9% on Wednesday . The company traded as high as $144.67 and last traded at $144.62. Approximately 5,810,552 shares changed hands during trading, a decline of 19% from the average daily volume of 7,169,257 shares. The stock had previously closed at $143.34.

Analysts Set New Price Targets

A number of analysts have recently weighed in on JNJ shares. Morgan Stanley raised their target price on Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Wells Fargo & Company upped their price objective on Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Royal Bank of Canada boosted their price objective on Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Wolfe Research began coverage on shares of Johnson & Johnson in a research report on Friday, November 15th. They set an “outperform” rating and a $190.00 target price for the company. Finally, StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 14th. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Johnson & Johnson has a consensus rating of “Moderate Buy” and an average price target of $174.73.

Johnson & Johnson Price Performance

The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79. The company’s 50-day moving average price is $152.55 and its two-hundred day moving average price is $156.31. The company has a market capitalization of $348.19 billion, a P/E ratio of 20.93, a price-to-earnings-growth ratio of 2.52 and a beta of 0.51.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.21. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The business had revenue of $22.47 billion for the quarter, compared to analyst estimates of $22.17 billion. During the same quarter last year, the business posted $2.66 EPS. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, sell-side analysts expect that Johnson & Johnson will post 9.94 EPS for the current year.

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th were paid a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date was Tuesday, November 26th. Johnson & Johnson’s payout ratio is 71.78%.

Insider Activity

In other news, Director Mark A. Weinberger purchased 1,000 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were purchased at an average price of $147.22 per share, for a total transaction 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Johnson & Johnson

Large investors have recently modified their holdings of the company. Highline Wealth Partners LLC bought a new stake in shares of Johnson & Johnson during the 3rd quarter worth $31,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of Johnson & Johnson during the 3rd quarter worth approximately $35,000. Mowery & Schoenfeld Wealth Management LLC lifted its stake in Johnson & Johnson by 58.7% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock valued at $40,000 after purchasing an additional 91 shares during the last quarter. Activest Wealth Management bought a new stake in shares of Johnson & Johnson in the third quarter valued at $40,000. Finally, Morton Brown Family Wealth LLC increased its holdings in Johnson & Johnson by 400.0% in the 3rd quarter. Morton Brown Family Wealth LLC now owns 250 shares of the company’s stock worth $41,000 after acquiring an additional 200 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors.

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.