Johnson & Johnson (NYSE:JNJ) Stock Price Down 3.1% After Analyst Downgrade

Johnson & Johnson (NYSE:JNJ) was down 3.1% during trading on Wednesday after Barclays lowered their price target on the stock from $160.00 to $159.00. Barclays 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 were traded during trading, a decline of 36% from the average daily volume of 8,514,245 shares. The stock had previously closed at $148.15.

Other analysts also recently issued reports about the stock. Bank of America dropped their target price on shares of Johnson & Johnson from $166.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday, January 17th. Citigroup decreased their target price on Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. Wells Fargo & Company lifted their price target on Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Wolfe Research began coverage on shares of Johnson & Johnson in a research note on Friday, November 15th. They set an “outperform” rating and a $190.00 price objective for the company. Finally, Morgan Stanley boosted their price target on shares of Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $173.27.

Insider Buying and Selling at Johnson & Johnson

In related news, Director Mark A. Weinberger acquired 1,000 shares of the business’s stock in a transaction that occurred 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 purchase, the director now owns 1,000 shares of the company’s stock, valued at approximately $147,220. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Johnson & Johnson

Several hedge funds and other institutional investors have recently added to or reduced their stakes in JNJ. Providence Capital Advisors LLC raised its holdings in Johnson & Johnson by 12.4% in the 2nd quarter. Providence Capital Advisors LLC now owns 40,909 shares of the company’s stock valued at $5,979,000 after acquiring an additional 4,500 shares in the last quarter. Cheviot Value Management LLC raised its stake in shares of Johnson & Johnson by 9.4% in the second quarter. Cheviot Value Management LLC now owns 144,825 shares of the company’s stock valued at $21,168,000 after purchasing an additional 12,488 shares in the last quarter. Marshall Wace LLP boosted its stake in Johnson & Johnson by 506.9% during the second quarter. Marshall Wace LLP now owns 3,884,962 shares of the company’s stock worth $567,826,000 after buying an additional 3,244,862 shares in the last quarter. Distillate Capital Partners LLC bought a new stake in Johnson & Johnson in the 2nd quarter valued at $50,013,000. Finally, Gateway Advisory LLC raised its stake in shares of Johnson & Johnson by 240.0% in the 2nd quarter. Gateway Advisory LLC now owns 16,780 shares of the company’s stock valued at $2,453,000 after buying an additional 11,844 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Stock Performance

The firm has a market capitalization of $345.75 billion, a price-to-earnings ratio of 20.77, a price-to-earnings-growth ratio of 2.50 and a beta of 0.51. The firm’s 50-day moving average price is $148.26 and its two-hundred day moving average price is $156.12. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.79 and a current ratio of 1.03.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.99 by $0.05. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The business had revenue of $22.52 billion during the quarter, compared to analysts’ expectations of $22,438,500 billion. During the same period in the prior year, the firm posted $2.29 EPS. Johnson & Johnson’s quarterly revenue was up 5.3% compared to the same quarter last year. Sell-side analysts predict that Johnson & Johnson will post 9.95 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date of this dividend is Tuesday, February 18th. Johnson & Johnson’s dividend payout ratio (DPR) is currently 71.78%.

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.