Johnson & Johnson (NYSE:JNJ) Trading Down 0.2% Following Analyst Downgrade

Johnson & Johnson (NYSE:JNJ)’s share price was down 0.2% during mid-day trading on Friday after Bank of America lowered their price target on the stock from $166.00 to $160.00. Bank of America currently has a neutral rating on the stock. Johnson & Johnson traded as low as $146.61 and last traded at $147.48. Approximately 3,098,640 shares changed hands during trading, a decline of 61% from the average daily volume of 7,846,918 shares. The stock had previously closed at $147.77.

JNJ has been the subject of a number of other reports. Guggenheim increased their target price on shares of Johnson & Johnson from $156.00 to $162.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Royal Bank of Canada boosted their target price on Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Morgan Stanley raised their price target on Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Wolfe Research started 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. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a report on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $174.29.

Insiders Place Their Bets

In other news, Director Mark A. Weinberger acquired 1,000 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were bought at an average cost of $147.22 per share, for a total transaction of $147,220.00. Following the acquisition, the director now directly owns 1,000 shares in the company, valued at $147,220. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.16% of the company’s stock.

Institutional Trading of Johnson & Johnson

A number of institutional investors and hedge funds have recently bought and sold shares of JNJ. Janney Montgomery Scott LLC lifted its holdings in shares of Johnson & Johnson by 10.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 1,292,787 shares of the company’s stock valued at $186,963,000 after acquiring an additional 120,815 shares in the last quarter. Sharp Financial Services LLC lifted its position in Johnson & Johnson by 14.9% during the 4th quarter. Sharp Financial Services LLC now owns 3,257 shares of the company’s stock worth $471,000 after acquiring an additional 422 shares in the last quarter. Kelleher Financial Advisors grew its position in Johnson & Johnson by 2.6% in the fourth quarter. Kelleher Financial Advisors now owns 6,516 shares of the company’s stock valued at $942,000 after acquiring an additional 165 shares in the last quarter. Westside Investment Management Inc. lifted its position in shares of Johnson & Johnson by 13.3% during the fourth quarter. Westside Investment Management Inc. now owns 4,859 shares of the company’s stock worth $703,000 after purchasing an additional 570 shares in the last quarter. Finally, Cetera Trust Company N.A boosted its stake in shares of Johnson & Johnson by 13.5% in the fourth quarter. Cetera Trust Company N.A now owns 1,923 shares of the company’s stock valued at $278,000 after purchasing an additional 229 shares during the period. Institutional investors and hedge funds own 69.55% of the company’s stock.

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 company’s 50 day moving average is $148.86 and its 200-day moving average is $156.01. The stock has a market cap of $353.93 billion, a PE ratio of 21.27, a P/E/G ratio of 2.30 and a beta of 0.51.

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

Johnson & Johnson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be given a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 3.37%. The ex-dividend date is Tuesday, February 18th. Johnson & Johnson’s payout ratio is currently 71.78%.

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.