Johnson & Johnson (NYSE:JNJ) Trading Down 1% – Here’s What Happened

Johnson & Johnson (NYSE:JNJ) shares dropped 1% on Wednesday . The company traded as low as $154.27 and last traded at $154.62. Approximately 1,588,150 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 8,841,440 shares. The stock had previously closed at $156.13.

Analyst Ratings Changes

Several equities analysts recently commented on JNJ shares. Citigroup dropped their price objective on shares of Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Wolfe Research started coverage on Johnson & Johnson in a report on Friday, November 15th. They set an “outperform” rating and a $190.00 price objective on the stock. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 25th. Raymond James reduced their price target on Johnson & Johnson from $170.00 to $165.00 and set an “outperform” rating on the stock in a report on Thursday, January 23rd. Finally, Guggenheim upped their price objective on Johnson & Johnson from $162.00 to $166.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Nine investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $170.67.

Johnson & Johnson Price Performance

The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45. The business has a 50-day moving average of $147.48 and a 200 day moving average of $156.01. The firm has a market capitalization of $373.24 billion, a P/E ratio of 23.31, a price-to-earnings-growth ratio of 2.46 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.05. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.35%. The business had revenue of $22.52 billion during the quarter, compared to analyst estimates of $22.44 billion. During the same quarter in the previous year, the business posted $2.29 EPS. Johnson & Johnson’s quarterly revenue was up 5.3% on a year-over-year basis. On average, sell-side analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date is Tuesday, February 18th. Johnson & Johnson’s dividend payout ratio is 74.59%.

Insider Activity

In other Johnson & Johnson news, Director Mark A. Weinberger bought 1,000 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was purchased at an average cost of $147.22 per share, with a total value of $147,220.00. Following the transaction, the director now directly owns 1,000 shares in the company, valued at $147,220. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.16% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Johnson & Johnson

Several institutional investors have recently added to or reduced their stakes in JNJ. IFS Advisors LLC lifted its stake in Johnson & Johnson by 138.9% in the fourth quarter. IFS Advisors LLC now owns 172 shares of the company’s stock valued at $25,000 after purchasing an additional 100 shares during the last quarter. WealthTrak Capital Management LLC bought a new stake in shares of Johnson & Johnson in the fourth quarter valued at $26,000. Highline Wealth Partners LLC purchased a new position in shares of Johnson & Johnson during the 3rd quarter valued at $31,000. Mountain Hill Investment Partners Corp. bought a new position in shares of Johnson & Johnson during the 4th quarter worth $29,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in Johnson & Johnson in the 3rd quarter worth about $35,000. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Company Profile

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.