Johnson & Johnson (NYSE:JNJ) Shares Down 1.1%

Johnson & Johnson (NYSE:JNJGet Free Report) shares dropped 1.1% during trading on Tuesday . The stock traded as low as $144.88 and last traded at $145.37. Approximately 1,885,993 shares traded hands during trading, a decline of 74% from the average daily volume of 7,325,922 shares. The stock had previously closed at $146.97.

Analysts Set New Price Targets

JNJ has been the subject of several analyst reports. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 6th. Morgan Stanley reduced their target price on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 17th. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research note on Monday, May 6th. Bank of America reduced their target price on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. Finally, HSBC upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and raised their target price for the stock from $169.00 to $170.00 in a research note on Thursday, April 18th. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $175.86.

Check Out Our Latest Stock Report on JNJ

Johnson & Johnson Price Performance

The stock has a 50 day simple moving average of $151.11 and a two-hundred day simple moving average of $155.10. The firm has a market cap of $347.81 billion, a PE ratio of 9.06, a price-to-earnings-growth ratio of 2.44 and a beta of 0.55. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.94 and a current ratio of 1.17.

Johnson & Johnson (NYSE:JNJGet Free Report) last posted its earnings results on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.64 by $0.07. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. The firm had revenue of $21.38 billion for the quarter, compared to analysts’ expectations of $21.39 billion. During the same period last year, the firm earned $2.68 EPS. The company’s quarterly revenue was up 2.3% on a year-over-year basis. Sell-side analysts expect that Johnson & Johnson will post 10.64 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st will be given a dividend of $1.24 per share. The ex-dividend date of this dividend is Monday, May 20th. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.43%. Johnson & Johnson’s dividend payout ratio (DPR) is 30.92%.

Institutional Investors Weigh In On Johnson & Johnson

A number of institutional investors have recently modified their holdings of JNJ. Daiwa Securities Group Inc. boosted its holdings in Johnson & Johnson by 0.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 282,360 shares of the company’s stock worth $43,978,000 after buying an additional 1,665 shares during the last quarter. Confluence Wealth Services Inc. boosted its holdings in Johnson & Johnson by 4.6% in the 3rd quarter. Confluence Wealth Services Inc. now owns 31,549 shares of the company’s stock worth $4,914,000 after buying an additional 1,385 shares during the last quarter. Facet Wealth Inc. acquired a new position in shares of Johnson & Johnson during the 3rd quarter worth approximately $299,000. Telos Capital Management Inc. boosted its holdings in shares of Johnson & Johnson by 0.3% during the 3rd quarter. Telos Capital Management Inc. now owns 75,425 shares of the company’s stock worth $11,747,000 after purchasing an additional 252 shares during the last quarter. Finally, Aspen Investment Management Inc boosted its holdings in shares of Johnson & Johnson by 1.2% during the 3rd quarter. Aspen Investment Management Inc now owns 16,348 shares of the company’s stock worth $2,546,000 after purchasing an additional 188 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors and hedge funds.

About Johnson & Johnson

(Get Free Report)

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.

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