Johnson & Johnson (NYSE:JNJ) Shares Down 0.6% – Here’s Why

Shares of Johnson & Johnson (NYSE:JNJ) were down 0.6% during mid-day trading on Thursday . The company traded as low as $156.66 and last traded at $156.87. Approximately 1,346,764 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 6,954,603 shares. The stock had previously closed at $157.88.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on JNJ shares. Citigroup increased their price target on Johnson & Johnson from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research note on Wednesday, October 16th. The Goldman Sachs Group cut their price target on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a research note on Friday, July 19th. Daiwa Capital Markets downgraded shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $160.00 to $150.00 in a report on Tuesday, July 23rd. Finally, Morgan Stanley increased their price objective on shares of Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Johnson & Johnson presently has an average rating of “Moderate Buy” and an average target price of $175.00.

Johnson & Johnson Trading Down 0.7 %

The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.79 and a current ratio of 1.03. The stock’s fifty day moving average is $162.61 and its 200 day moving average is $155.81. The stock has a market cap of $374.67 billion, a P/E ratio of 22.52, a P/E/G ratio of 2.80 and a beta of 0.53.

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

Johnson & Johnson Dividend Announcement

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

Insider Buying and Selling

In related news, VP Robert J. Decker sold 5,635 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $165.06, for a total value of $930,113.10. Following the sale, the vice president now directly owns 18,973 shares of the company’s stock, valued at $3,131,683.38. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.16% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Johnson & Johnson

A number of institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD increased its position in shares of Johnson & Johnson by 16.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock worth $3,453,978,000 after acquiring an additional 3,139,499 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Johnson & Johnson by 10.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 18,780,645 shares of the company’s stock worth $2,744,979,000 after acquiring an additional 1,831,751 shares during the period. Ameriprise Financial Inc. increased its position in shares of Johnson & Johnson by 5.5% during the second quarter. Ameriprise Financial Inc. now owns 14,374,397 shares of the company’s stock worth $2,100,427,000 after acquiring an additional 754,200 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Johnson & Johnson by 16.2% during the second quarter. Dimensional Fund Advisors LP now owns 13,147,352 shares of the company’s stock worth $1,921,565,000 after acquiring an additional 1,829,257 shares during the period. Finally, American Century Companies Inc. increased its position in shares of Johnson & Johnson by 5.8% during the second quarter. American Century Companies Inc. now owns 8,014,213 shares of the company’s stock worth $1,171,357,000 after acquiring an additional 437,637 shares during the period. 69.55% of the stock is owned by hedge funds and other institutional investors.

About Johnson & Johnson

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.