Johnson & Johnson (NYSE:JNJ) Stock Price Down 2.8% – Here’s Why

Johnson & Johnson (NYSE:JNJ) was down 2.8% on Thursday . The company traded as low as $141.44 and last traded at $142.10. Approximately 11,169,455 shares changed hands during mid-day trading, an increase of 42% from the average daily volume of 7,858,281 shares. The stock had previously closed at $146.23.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on JNJ shares. Morgan Stanley upped their price objective on Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. StockNews.com lowered Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Bank of America reissued a “neutral” rating and issued a $166.00 target price on shares of Johnson & Johnson in a research report on Tuesday, December 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research report on Wednesday, October 16th. Finally, Wolfe Research initiated coverage on Johnson & Johnson in a research note on Friday, November 15th. They set an “outperform” rating and a $190.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $174.71.

Johnson & Johnson Stock Down 2.8 %

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 stock has a market cap of $342.12 billion, a PE ratio of 20.56, a price-to-earnings-growth ratio of 2.52 and a beta of 0.51. The business has a fifty day moving average of $150.38 and a 200-day moving average of $156.13.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.21. The company had revenue of $22.47 billion during the quarter, compared to the consensus estimate of $22.17 billion. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. Johnson & Johnson’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.66 earnings per share. Equities research analysts anticipate that Johnson & Johnson will post 9.94 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

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

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, Director Mark A. Weinberger purchased 1,000 shares of the stock in a transaction on Thursday, December 12th. The shares were bought at an average cost of $147.22 per share, with a total value of $147,220.00. Following the completion of the acquisition, the director now owns 1,000 shares in the company, valued at $147,220. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.16% of the stock is owned by insiders.

Institutional Investors Weigh In On Johnson & Johnson

Several hedge funds have recently added to or reduced their stakes in the business. Legacy Private Trust Co. boosted its stake in shares of Johnson & Johnson by 8.4% during the 4th quarter. Legacy Private Trust Co. now owns 39,173 shares of the company’s stock worth $5,665,000 after acquiring an additional 3,047 shares in the last quarter. Douglas Lane & Associates LLC boosted its stake in shares of Johnson & Johnson by 1.1% during the 4th quarter. Douglas Lane & Associates LLC now owns 599,386 shares of the company’s stock worth $86,683,000 after acquiring an additional 6,526 shares in the last quarter. InvesTrust purchased a new stake in shares of Johnson & Johnson during the 4th quarter worth about $6,355,000. Fulton Bank N.A. boosted its stake in shares of Johnson & Johnson by 7.8% during the 4th quarter. Fulton Bank N.A. now owns 47,550 shares of the company’s stock worth $6,877,000 after acquiring an additional 3,427 shares in the last quarter. Finally, Innova Wealth Partners purchased a new stake in shares of Johnson & Johnson during the 4th quarter worth about $416,000. 69.55% of the stock is owned by hedge funds and other 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.