Johnson & Johnson (NYSE:JNJ) Trading Down 3.1% Following Analyst Downgrade

Johnson & Johnson (NYSE:JNJ) was down 3.1% during trading on Wednesday after Morgan Stanley lowered their price target on the stock from $175.00 to $163.00. Morgan Stanley currently has an equal weight rating on the stock. Johnson & Johnson traded as low as $142.11 and last traded at $143.55. Approximately 5,436,238 shares traded hands during mid-day trading, a decline of 36% from the average daily volume of 8,514,245 shares. The stock had previously closed at $148.15.

JNJ has been the subject of several other research reports. Guggenheim lifted their price objective on Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Barclays cut their target price on Johnson & Johnson from $160.00 to $159.00 and set an “equal weight” rating for the company in a research note on Tuesday. Royal Bank of Canada lifted their price target on Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Wolfe Research began coverage on Johnson & Johnson in a report on Friday, November 15th. They set an “outperform” rating and a $190.00 price objective on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research note on Wednesday, October 16th. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $170.06.

Insider Activity at Johnson & Johnson

In related news, Director Mark A. Weinberger bought 1,000 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were acquired at an average cost of $147.22 per share, with a total value of $147,220.00. Following the completion of the acquisition, the director now owns 1,000 shares of the company’s stock, valued at $147,220. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.16% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Johnson & Johnson

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

Johnson & Johnson Stock Performance

The business has a 50 day moving average of $148.10 and a 200 day moving average of $156.05. The company has a market capitalization of $352.91 billion, a P/E ratio of 21.21, a price-to-earnings-growth ratio of 2.52 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 (NYSE:JNJ) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.05. The business had revenue of $22.52 billion during the quarter, compared to analyst estimates of $22,438,500 billion. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period last year, the company earned $2.29 EPS. On average, sell-side analysts predict that Johnson & Johnson will post 9.95 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be issued a $1.24 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $4.96 annualized dividend and a dividend yield of 3.38%. Johnson & Johnson’s payout ratio is 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.