Johnson & Johnson (NYSE:JNJ) Shares Gap Down Following Analyst Downgrade

Shares of Johnson & Johnson (NYSE:JNJ) gapped down before the market opened on Wednesday after Barclays lowered their price target on the stock from $160.00 to $159.00. The stock had previously closed at $148.15, but opened at $144.00. Barclays currently has an equal weight rating on the stock. Johnson & Johnson shares last traded at $143.57, with a volume of 3,110,293 shares.

Other analysts have also recently issued reports about the stock. Guggenheim upped their price target 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. StockNews.com cut Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Friday, January 17th. Wells Fargo & Company increased their price objective on Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a research report on Wednesday, October 16th. Finally, Citigroup dropped their target price on shares of Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $173.27.

Insider Buying and Selling at Johnson & Johnson

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

Institutional Investors Weigh In On Johnson & Johnson

Institutional investors have recently added to or reduced their stakes in the company. Summit Wealth Partners LLC increased its holdings in Johnson & Johnson by 0.6% in the 2nd quarter. Summit Wealth Partners LLC now owns 10,007 shares of the company’s stock valued at $1,463,000 after buying an additional 61 shares during the period. Powers Advisory Group LLC boosted its position in Johnson & Johnson by 0.6% in the third quarter. Powers Advisory Group LLC now owns 9,489 shares of the company’s stock valued at $1,538,000 after buying an additional 61 shares in the last quarter. Eagle Wealth Strategies LLC increased its holdings in shares of Johnson & Johnson by 2.8% during the third quarter. Eagle Wealth Strategies LLC now owns 2,294 shares of the company’s stock worth $372,000 after buying an additional 63 shares in the last quarter. Knuff & Co LLC boosted its holdings in shares of Johnson & Johnson by 0.7% in the 3rd quarter. Knuff & Co LLC now owns 9,466 shares of the company’s stock worth $1,534,000 after acquiring an additional 64 shares in the last quarter. Finally, Perkins Coie Trust Co raised its position in Johnson & Johnson by 1.8% in the 3rd quarter. Perkins Coie Trust Co now owns 3,705 shares of the company’s stock valued at $600,000 after purchasing an additional 65 shares during the last quarter. 69.55% of the stock is owned by institutional investors and hedge funds.

Johnson & Johnson Trading Down 3.3 %

The firm has a market cap of $344.79 billion, a price-to-earnings ratio of 20.73, a P/E/G ratio of 2.50 and a beta of 0.51. 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 company’s 50-day moving average is $148.26 and its 200-day moving average is $156.12.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.05. The business had revenue of $22.52 billion for the quarter, compared to analyst estimates of $22,438,500 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 5.3% on a year-over-year basis. During the same period last year, the business posted $2.29 earnings per share. On average, research analysts predict that Johnson & Johnson will post 9.95 earnings per share for the current year.

Johnson & Johnson Announces Dividend

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 paid a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date is Tuesday, February 18th. Johnson & Johnson’s dividend payout ratio is presently 71.78%.

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.