Johnson & Johnson (NYSE:JNJ) Stock Price Down 2.3% – What’s Next?

Shares of Johnson & Johnson (NYSE:JNJ) dropped 2.3% during trading on Wednesday . The stock traded as low as $141.44 and last traded at $142.88. Approximately 2,989,596 shares were traded during trading, a decline of 52% from the average daily volume of 6,198,114 shares. The stock had previously closed at $146.23.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Royal Bank of Canada upped their price objective on Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Citigroup decreased their target price on Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. Wells Fargo & Company upped their target price on shares of Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research note on Wednesday, October 16th. Finally, Wolfe Research assumed coverage on shares of Johnson & Johnson in a research report on Friday, November 15th. They set an “outperform” rating and a $190.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Johnson & Johnson currently has an average rating of “Moderate Buy” and an average target price of $174.71.

Johnson & Johnson Trading Down 0.1 %

The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45. The company’s fifty day moving average price is $149.67 and its two-hundred day moving average price is $155.99. The firm has a market cap of $342.05 billion, a PE ratio of 20.56, a P/E/G 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 for the quarter, topping analysts’ consensus estimates of $2.21 by $0.21. The business had revenue of $22.47 billion for the quarter, compared to analysts’ expectations of $22.17 billion. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.66 EPS. As a group, sell-side analysts forecast that Johnson & Johnson will post 9.94 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

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

Insider Activity at Johnson & Johnson

In other news, Director Mark A. Weinberger bought 1,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the director now owns 1,000 shares in the company, valued at $147,220. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.16% of the stock is owned by corporate insiders.

Institutional Trading of Johnson & Johnson

Several hedge funds and other institutional investors have recently added to or reduced their stakes in JNJ. Bright Futures Wealth Management LLC. grew its holdings in shares of Johnson & Johnson by 2.9% during the 2nd quarter. Bright Futures Wealth Management LLC. now owns 3,389 shares of the company’s stock worth $495,000 after purchasing an additional 94 shares during the period. Sachetta LLC raised its stake in shares of Johnson & Johnson by 5.6% in the 2nd quarter. Sachetta LLC now owns 6,797 shares of the company’s stock valued at $1,097,000 after acquiring an additional 359 shares during the period. Andra AP fonden boosted its position in Johnson & Johnson by 144.0% during the 2nd quarter. Andra AP fonden now owns 461,200 shares of the company’s stock worth $67,409,000 after purchasing an additional 272,200 shares during the period. Doheny Asset Management CA increased its holdings in Johnson & Johnson by 65.1% in the 2nd quarter. Doheny Asset Management CA now owns 16,327 shares of the company’s stock valued at $2,296,000 after purchasing an additional 6,437 shares in the last quarter. Finally, First Interstate Bank raised its position in Johnson & Johnson by 4.3% in the second quarter. First Interstate Bank now owns 9,260 shares of the company’s stock valued at $1,353,000 after purchasing an additional 384 shares during the period. Hedge funds and other institutional investors own 69.55% of the company’s stock.

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.