Johnson & Johnson (NYSE:JNJ) Shares Down 0.7% – Here’s What Happened

Johnson & Johnson (NYSE:JNJ)’s share price was down 0.7% on Tuesday . The stock traded as low as $153.43 and last traded at $153.48. Approximately 955,913 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 7,048,502 shares. The stock had previously closed at $154.54.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on JNJ shares. Wells Fargo & Company lifted their target price on Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Guggenheim lifted their price objective on shares of Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 14th. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research report on Wednesday, October 16th. Finally, Royal Bank of Canada increased their price objective on Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $175.94.

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 stock has a 50-day simple moving average of $159.52 and a 200 day simple moving average of $156.38. The stock has a market capitalization of $374.12 billion, a price-to-earnings ratio of 22.49, a price-to-earnings-growth ratio of 2.77 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, topping the consensus estimate of $2.21 by $0.21. The business had revenue of $22.47 billion during 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 firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the company posted $2.66 earnings per share. On average, equities research analysts forecast that Johnson & Johnson will post 9.93 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 71.78%.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $165.06, for a total value of $930,113.10. Following the transaction, the vice president now directly owns 18,973 shares of the company’s stock, valued at $3,131,683.38. This represents a 22.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Johnson & Johnson

Several large investors have recently made changes to their positions in the company. State Street Corp lifted its stake in Johnson & Johnson by 0.9% in the third quarter. State Street Corp now owns 134,245,811 shares of the company’s stock valued at $21,755,874,000 after acquiring an additional 1,154,088 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Johnson & Johnson by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 56,106,884 shares of the company’s stock valued at $9,064,149,000 after purchasing an additional 1,004,763 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Johnson & Johnson by 10.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 18,780,645 shares of the company’s stock valued at $2,744,979,000 after purchasing an additional 1,831,751 shares during the last quarter. FMR LLC boosted its holdings in Johnson & Johnson by 7.4% in the third quarter. FMR LLC now owns 18,316,920 shares of the company’s stock worth $2,968,440,000 after purchasing an additional 1,265,748 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Johnson & Johnson by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 17,639,368 shares of the company’s stock worth $2,858,543,000 after buying an additional 102,502 shares during the last quarter. 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.