Johnson & Johnson (NYSE:JNJ) Shares Down 2.3% – What’s Next?

Shares of Johnson & Johnson (NYSE:JNJ) were down 2.3% on Wednesday . The company traded as low as $141.50 and last traded at $146.56. Approximately 4,046,522 shares changed hands during trading, a decline of 48% from the average daily volume of 7,851,527 shares. The stock had previously closed at $150.00.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on JNJ. The Goldman Sachs Group upgraded Johnson & Johnson from a “neutral” rating to a “buy” rating and raised their price target for the company from $157.00 to $172.00 in a report on Wednesday. Guggenheim reaffirmed a “neutral” rating on shares of Johnson & Johnson in a research note on Wednesday, April 2nd. Barclays lifted their price target on shares of Johnson & Johnson from $159.00 to $166.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 28th. Wells Fargo & Company reduced their price objective 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, January 23rd. Finally, Stifel Nicolaus dropped their target price on shares of Johnson & Johnson from $170.00 to $155.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Johnson & Johnson currently has an average rating of “Moderate Buy” and a consensus price target of $171.67.

Johnson & Johnson Price Performance

The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.43. The firm has a market cap of $365.39 billion, a P/E ratio of 22.80, a PEG ratio of 2.56 and a beta of 0.49. The company has a fifty day moving average price of $159.43 and a two-hundred day moving average price of $155.27.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.05. The company had revenue of $22.52 billion during the quarter, compared to the consensus estimate of $22.44 billion. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. The firm’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.29 earnings per share. Equities analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current year.

Insider Buying and Selling at Johnson & Johnson

In other news, VP Robert J. Decker sold 6,999 shares of Johnson & Johnson stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $165.88, for a total value of $1,160,994.12. Following the sale, the vice president now directly owns 21,001 shares in the company, valued at $3,483,645.88. This trade represents a 25.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Timothy Schmid sold 403 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $156.15, for a total transaction of $62,928.45. Following the transaction, the executive vice president now owns 15,098 shares of the company’s stock, valued at $2,357,552.70. The trade was a 2.60 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Johnson & Johnson

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. IFS Advisors LLC raised its holdings in Johnson & Johnson by 138.9% during the fourth quarter. IFS Advisors LLC now owns 172 shares of the company’s stock worth $25,000 after acquiring an additional 100 shares in the last quarter. WealthTrak Capital Management LLC bought a new stake in shares of Johnson & Johnson during the 4th quarter worth approximately $26,000. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Johnson & Johnson in the 4th quarter valued at approximately $29,000. Bay Harbor Wealth Management LLC bought a new position in shares of Johnson & Johnson in the fourth quarter valued at $32,000. Finally, Conquis Financial LLC bought a new stake in Johnson & Johnson during the fourth quarter worth $33,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

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.