Johnson & Johnson (NYSE:JNJ) Shares Down 1.5% – Here’s Why

Johnson & Johnson (NYSE:JNJ)’s share price was down 1.5% during mid-day trading on Thursday . The company traded as low as $201.71 and last traded at $202.24. Approximately 8,828,593 shares changed hands during trading, a decline of 1% from the average daily volume of 8,906,524 shares. The stock had previously closed at $205.33.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on JNJ shares. Loop Capital set a $190.00 target price on shares of Johnson & Johnson in a report on Wednesday, October 22nd. Morgan Stanley set a $190.00 price objective on shares of Johnson & Johnson in a report on Wednesday, October 15th. Barclays raised their target price on shares of Johnson & Johnson from $176.00 to $197.00 and gave the stock an “equal weight” rating in a report on Tuesday. HSBC increased their price target on Johnson & Johnson from $210.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Finally, Sanford C. Bernstein upped their target price on shares of Johnson & Johnson from $172.00 to $193.00 and gave the stock a “market perform” rating in a report on Monday, October 6th. Four research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, Johnson & Johnson presently has an average rating of “Moderate Buy” and an average price target of $203.15.

Johnson & Johnson Price Performance

The company’s 50 day moving average price is $194.05 and its 200-day moving average price is $175.25. The company has a market capitalization of $486.48 billion, a PE ratio of 19.49, a PEG ratio of 2.26 and a beta of 0.36. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.50.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Wednesday, August 30th. The company reported $2.26 EPS for the quarter. Johnson & Johnson had a return on equity of 32.73% and a net margin of 27.26%.The business had revenue of $24.02 billion for the quarter. On average, sell-side analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Tuesday, November 25th will be paid a $1.30 dividend. The ex-dividend date is Tuesday, November 25th. This represents a $5.20 dividend on an annualized basis and a yield of 2.6%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 50.19%.

Institutional Trading of Johnson & Johnson

Several institutional investors and hedge funds have recently added to or reduced their stakes in JNJ. Abich Financial Wealth Management LLC bought a new position in shares of Johnson & Johnson during the third quarter worth about $26,000. Clayton Financial Group LLC acquired a new stake in Johnson & Johnson in the third quarter valued at about $28,000. Evolution Wealth Management Inc. bought a new stake in shares of Johnson & Johnson during the second quarter worth about $27,000. Semmax Financial Advisors Inc. increased its position in Johnson & Johnson by 55.0% during the 2nd quarter. Semmax Financial Advisors Inc. now owns 203 shares of the company’s stock valued at $31,000 after purchasing an additional 72 shares during the period. Finally, Turning Point Benefit Group Inc. bought a new position in shares of Johnson & Johnson during the 3rd quarter worth approximately $41,000. 69.55% of the stock is owned by institutional investors.

About Johnson & Johnson

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.