Johnson & Johnson (NYSE:JNJ) Hits New 1-Year High – Time to Buy?

Johnson & Johnson (NYSE:JNJ) hit a new 52-week high during trading on Wednesday . The stock traded as high as $241.00 and last traded at $240.7250, with a volume of 2577293 shares trading hands. The stock had previously closed at $238.35.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on JNJ. Guggenheim upped their price target on Johnson & Johnson from $227.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, January 23rd. Freedom Capital lowered Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Wolfe Research lifted their price target on Johnson & Johnson from $225.00 to $240.00 and gave the stock an “outperform” rating in a research note on Monday, January 5th. Scotiabank reissued an “outperform” rating on shares of Johnson & Johnson in a research note on Thursday, January 22nd. Finally, Citigroup lifted their target price on shares of Johnson & Johnson from $232.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $233.73.

Johnson & Johnson Stock Up 1.1%

The stock has a market cap of $580.57 billion, a price-to-earnings ratio of 21.81, a P/E/G ratio of 2.32 and a beta of 0.35. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.50. The firm’s 50 day moving average is $214.86 and its two-hundred day moving average is $195.19.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Saturday, January 31st. The company reported $2.46 EPS for the quarter. Johnson & Johnson had a net margin of 28.46% and a return on equity of 33.34%. The business had revenue of $24.28 billion during the quarter. On average, sell-side analysts predict that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 24th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Tuesday, February 24th. Johnson & Johnson’s dividend payout ratio is presently 47.06%.

Institutional Trading of Johnson & Johnson

A number of institutional investors and hedge funds have recently bought and sold shares of JNJ. Plancorp LLC lifted its holdings in Johnson & Johnson by 0.3% in the 4th quarter. Plancorp LLC now owns 15,889 shares of the company’s stock worth $3,288,000 after buying an additional 45 shares in the last quarter. Baron Silver Stevens Financial Advisors LLC grew its stake in Johnson & Johnson by 0.8% during the 4th quarter. Baron Silver Stevens Financial Advisors LLC now owns 5,645 shares of the company’s stock valued at $1,168,000 after purchasing an additional 45 shares in the last quarter. Strategic Financial Services Inc. increased its holdings in Johnson & Johnson by 0.5% during the 4th quarter. Strategic Financial Services Inc. now owns 8,995 shares of the company’s stock worth $1,862,000 after purchasing an additional 45 shares during the last quarter. WealthCollab LLC raised its position in shares of Johnson & Johnson by 4.7% in the 4th quarter. WealthCollab LLC now owns 1,015 shares of the company’s stock valued at $210,000 after purchasing an additional 46 shares in the last quarter. Finally, MMA Asset Management LLC boosted its stake in shares of Johnson & Johnson by 1.3% during the 4th quarter. MMA Asset Management LLC now owns 3,600 shares of the company’s stock valued at $745,000 after buying an additional 46 shares during the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

About Johnson & Johnson

Johnson & Johnson is a multinational healthcare company headquartered in New Brunswick, New Jersey, that develops, manufactures and markets a broad range of products across pharmaceuticals, medical devices and previously consumer health. Founded in 1886 by the Johnson family, the company has grown into a global healthcare organization with operations and sales in many countries around the world.

The company’s pharmaceuticals business, organized largely under its Janssen research and development organization, focuses on prescription medicines across therapeutic areas such as immunology, infectious disease, oncology and neuroscience.