Johnson & Johnson (NYSE:JNJ) Trading 1.1% Higher – Time to Buy?

Johnson & Johnson (NYSE:JNJ)’s stock price rose 1.1% during trading on Thursday . The stock traded as high as $156.23 and last traded at $157.04. Approximately 1,371,506 shares changed hands during trading, a decline of 84% from the average daily volume of 8,797,835 shares. The stock had previously closed at $155.26.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on JNJ. Morgan Stanley reduced their price objective on shares of Johnson & Johnson from $175.00 to $163.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 25th. Wolfe Research assumed coverage on shares of Johnson & Johnson in a research report on Friday, November 15th. They issued an “outperform” rating and a $190.00 price objective on the stock. Leerink Partners cut their price objective on shares of Johnson & Johnson from $182.00 to $169.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. Finally, Guggenheim boosted their target price on shares of Johnson & Johnson from $162.00 to $166.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Johnson & Johnson has a consensus rating of “Moderate Buy” and a consensus price target of $170.67.

Johnson & Johnson Price Performance

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 50 day moving average is $147.58 and its 200 day moving average is $156.00. The firm has a market capitalization of $380.22 billion, a price-to-earnings ratio of 23.74, a P/E/G ratio of 2.46 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $2.04 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $22.44 billion. During the same quarter in the prior year, the business posted $2.29 earnings per share. Johnson & Johnson’s revenue was up 5.3% compared to the same quarter last year. On average, equities research analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders 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 yield of 3.14%. The ex-dividend date of this dividend is Tuesday, February 18th. Johnson & Johnson’s dividend payout ratio is presently 74.59%.

Insider Buying and Selling at Johnson & Johnson

In related news, Director Mark A. Weinberger acquired 1,000 shares of Johnson & Johnson stock in a transaction dated Thursday, December 12th. The stock was bought at an average price 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 represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 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. IFS Advisors LLC lifted its holdings in shares of Johnson & Johnson by 138.9% in the 4th quarter. IFS Advisors LLC now owns 172 shares of the company’s stock worth $25,000 after purchasing an additional 100 shares in the last quarter. WealthTrak Capital Management LLC bought a new position in Johnson & Johnson during the 4th quarter valued at $26,000. Mountain Hill Investment Partners Corp. bought a new position in Johnson & Johnson during the 4th quarter valued at $29,000. Highline Wealth Partners LLC bought a new position in Johnson & Johnson during the 3rd quarter valued at $31,000. Finally, Bay Harbor Wealth Management LLC bought a new position in Johnson & Johnson during the 4th quarter valued at $32,000. 69.55% of the stock is currently owned by institutional investors.

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.