Johnson & Johnson (NYSE:JNJ) Shares Down 1.5%

Johnson & Johnson (NYSE:JNJ)’s share price fell 1.5% during trading on Tuesday . The company traded as low as $156.44 and last traded at $157.56. 2,568,313 shares traded hands during trading, a decline of 65% from the average session volume of 7,323,391 shares. The stock had previously closed at $159.88.

Analyst Ratings Changes

A number of research firms recently commented on JNJ. TD Cowen reduced their price objective on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Bank of America reduced their price target on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. Daiwa America cut Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. StockNews.com cut Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 8th. Finally, Daiwa Capital Markets cut Johnson & Johnson from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $160.00 to $150.00 in a research report on Tuesday, July 23rd. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $173.21.

Johnson & Johnson Stock Performance

The business has a 50 day moving average of $151.41 and a 200 day moving average of $153.07. The company has a market capitalization of $381.19 billion, a P/E ratio of 9.81, a price-to-earnings-growth ratio of 2.63 and a beta of 0.52. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, beating analysts’ consensus estimates of $2.71 by $0.11. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The company had revenue of $22.45 billion during the quarter, compared to analyst estimates of $22.33 billion. During the same period in the prior year, the company earned $2.80 earnings per share. The firm’s revenue was up 4.3% on a year-over-year basis. On average, sell-side analysts predict that Johnson & Johnson will post 10.07 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th will be paid a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date is Tuesday, August 27th. Johnson & Johnson’s payout ratio is presently 30.92%.

Institutional Investors Weigh In On Johnson & Johnson

Several institutional investors have recently modified their holdings of JNJ. Norges Bank bought a new stake in shares of Johnson & Johnson in the 4th quarter valued at approximately $4,071,642,000. Wellington Management Group LLP lifted its stake in shares of Johnson & Johnson by 16.4% in the 4th quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock valued at $3,764,852,000 after purchasing an additional 3,391,657 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Johnson & Johnson by 16.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock worth $3,453,978,000 after buying an additional 3,139,499 shares during the period. Ninety One UK Ltd raised its holdings in shares of Johnson & Johnson by 59.0% in the second quarter. Ninety One UK Ltd now owns 6,708,943 shares of the company’s stock worth $980,579,000 after buying an additional 2,489,925 shares during the period. Finally, Swedbank AB purchased a new stake in shares of Johnson & Johnson in the first quarter worth approximately $331,178,000. 69.55% of the stock is owned by institutional investors.

Johnson & Johnson Company Profile

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.