Johnson & Johnson (NYSE:JNJ) Trading Up 1.6% Following Earnings Beat

Johnson & Johnson (NYSE:JNJ)’s stock price was up 1.6% on Thursday following a stronger than expected earnings report. The stock traded as high as $147.66 and last traded at $147.63. Approximately 2,599,967 shares traded hands during trading, a decline of 71% from the average daily volume of 8,890,007 shares. The stock had previously closed at $145.27.

The company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.05. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.35%. The firm had revenue of $22.52 billion during the quarter, compared to analysts’ expectations of $22,438,500 billion. During the same quarter last year, the company posted $2.29 earnings per share. The firm’s revenue was up 5.3% compared to the same quarter last year.

Johnson & Johnson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be given a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 3.38%. The ex-dividend date is Tuesday, February 18th. Johnson & Johnson’s dividend payout ratio is currently 74.59%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Leerink Partners dropped their price objective on shares of Johnson & Johnson from $182.00 to $169.00 and set an “outperform” rating on the stock in a research note on Thursday. StockNews.com cut shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Friday, January 17th. Wells Fargo & Company lowered their target price on shares of Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating on the stock in a research note on Thursday. Wolfe Research started coverage on Johnson & Johnson in a research note on Friday, November 15th. They issued an “outperform” rating and a $190.00 price target for the company. Finally, Stifel Nicolaus lowered their price target on Johnson & Johnson from $170.00 to $155.00 and set a “hold” rating on the stock in a research report on Thursday. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $170.06.

Insider Buying and Selling at Johnson & Johnson

In related news, Director Mark A. Weinberger bought 1,000 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was acquired at an average cost of $147.22 per share, with a total value of $147,220.00. Following the purchase, the director now directly owns 1,000 shares of the company’s stock, valued at $147,220. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.16% of the stock is owned by insiders.

Institutional Investors Weigh In On Johnson & Johnson

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Fred Alger Management LLC increased its position in shares of Johnson & Johnson by 6.1% during the 2nd quarter. Fred Alger Management LLC now owns 42,968 shares of the company’s stock worth $6,280,000 after purchasing an additional 2,488 shares during the last quarter. Dark Forest Capital Management LP acquired a new stake in shares of Johnson & Johnson during the second quarter valued at about $223,000. MBB Public Markets I LLC raised its stake in shares of Johnson & Johnson by 1,827.5% in the 2nd quarter. MBB Public Markets I LLC now owns 181,395 shares of the company’s stock valued at $26,513,000 after acquiring an additional 171,984 shares during the period. Marathon Capital Management boosted its position in shares of Johnson & Johnson by 3.3% during the 2nd quarter. Marathon Capital Management now owns 29,668 shares of the company’s stock worth $4,336,000 after purchasing an additional 940 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in Johnson & Johnson by 0.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,686,122 shares of the company’s stock valued at $392,603,000 after purchasing an additional 7,107 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Trading Up 0.1 %

The business has a 50-day simple moving average of $147.99 and a 200-day simple moving average of $155.98. The company has a market cap of $353.34 billion, a PE ratio of 22.07, a price-to-earnings-growth ratio of 2.45 and a beta of 0.51. The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45.

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.