Johnson & Johnson (NYSE:JNJ) Stock Price Down 0.2% – Here’s What Happened

Johnson & Johnson (NYSE:JNJ)’s share price fell 0.2% during trading on Tuesday . The stock traded as low as $156.35 and last traded at $157.87. 817,406 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 6,944,819 shares. The stock had previously closed at $158.24.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 14th. Daiwa America lowered Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group cut their price objective on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a report on Friday, July 19th. Wells Fargo & Company increased their target price on shares of Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Finally, TD Cowen cut their price target on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Johnson & Johnson has an average rating of “Moderate Buy” and an average target price of $175.93.

Johnson & Johnson Price Performance

The company has a market cap of $379.39 billion, a price-to-earnings ratio of 22.85, a price-to-earnings-growth ratio of 2.84 and a beta of 0.53. The stock has a 50 day simple moving average of $163.18 and a two-hundred day simple moving average of $155.68. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.21. The firm 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%. Johnson & Johnson’s revenue was up 5.2% compared to the same quarter last year. During the same period last year, the business earned $2.66 earnings per share. On average, equities research analysts predict that Johnson & Johnson will post 9.94 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 71.78%.

Insider Buying and Selling

In other Johnson & Johnson 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 transaction of $930,113.10. Following the completion of the transaction, the vice president now owns 18,973 shares of the company’s stock, valued at $3,131,683.38. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of JNJ. Savvy Advisors Inc. raised its position in Johnson & Johnson by 107.0% in the 3rd quarter. Savvy Advisors Inc. now owns 9,014 shares of the company’s stock valued at $1,461,000 after purchasing an additional 4,659 shares in the last quarter. Ashton Thomas Private Wealth LLC increased its stake in shares of Johnson & Johnson by 1.9% during the third quarter. Ashton Thomas Private Wealth LLC now owns 44,934 shares of the company’s stock worth $7,282,000 after buying an additional 859 shares during the period. Verus Capital Partners LLC lifted its stake in Johnson & Johnson by 6.3% in the third quarter. Verus Capital Partners LLC now owns 7,698 shares of the company’s stock worth $1,248,000 after acquiring an additional 454 shares during the last quarter. Apollon Financial LLC increased its position in shares of Johnson & Johnson by 5.9% in the 3rd quarter. Apollon Financial LLC now owns 2,214 shares of the company’s stock valued at $359,000 after purchasing an additional 124 shares during the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd raised its holdings in shares of Johnson & Johnson by 517.7% in the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 13,065 shares of the company’s stock valued at $2,114,000 after purchasing an additional 10,950 shares in the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

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.