Johnson & Johnson (NYSE:JNJ) Shares Up 0.4% – Here’s What Happened

Shares of Johnson & Johnson (NYSE:JNJ) shot up 0.4% during trading on Wednesday . The company traded as high as $145.85 and last traded at $145.85. 3,164,071 shares were traded during mid-day trading, a decline of 56% from the average session volume of 7,194,873 shares. The stock had previously closed at $145.27.

Analysts Set New Price Targets

A number of research firms recently weighed in on JNJ. Citigroup lowered their price target on shares of Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. 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. Royal Bank of Canada raised their price target on Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Wolfe Research started coverage on shares of Johnson & Johnson in a research report on Friday, November 15th. They issued an “outperform” rating and a $190.00 target price for the company. Finally, Wells Fargo & Company boosted their price target on shares of Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $174.73.

Johnson & Johnson Stock Performance

The firm has a market capitalization of $351.15 billion, a price-to-earnings ratio of 21.11, a price-to-earnings-growth ratio of 2.52 and a beta of 0.51. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.79 and a current ratio of 1.03. The firm’s 50-day moving average price is $154.46 and its two-hundred day moving average price is $156.35.

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 the consensus estimate of $2.21 by $0.21. The firm had revenue of $22.47 billion during the quarter, compared to analyst estimates of $22.17 billion. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.66 earnings per share. Sell-side analysts predict that Johnson & Johnson will post 9.94 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th were given a dividend of $1.24 per share. The ex-dividend date of this dividend was Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.40%. Johnson & Johnson’s payout ratio is currently 71.78%.

Insider Activity

In related news, Director Mark A. Weinberger purchased 1,000 shares of the stock in a transaction dated Thursday, December 12th. The stock was bought at an average cost of $147.22 per share, with a total value of $147,220.00. Following the purchase, the director now directly owns 1,000 shares in the company, valued at $147,220. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.16% of the company’s stock.

Institutional Trading of Johnson & Johnson

A number of large investors have recently made changes to their positions in the company. Innealta Capital LLC acquired a new stake in shares of Johnson & Johnson in the second quarter valued at approximately $27,000. Highline Wealth Partners LLC bought a new position in Johnson & Johnson during the third quarter worth about $31,000. RPg Family Wealth Advisory LLC bought a new position in shares of Johnson & Johnson during the 3rd quarter worth approximately $35,000. Mowery & Schoenfeld Wealth Management LLC lifted its holdings in Johnson & Johnson by 58.7% during the 3rd 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. Finally, Activest Wealth Management acquired a new position in shares of Johnson & Johnson in the third quarter valued at $40,000. Institutional investors own 69.55% of the company’s stock.

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.