Johnson & Johnson (NYSE:JNJ) Stock Price Up 1.1% – Here’s What Happened

Johnson & Johnson (NYSE:JNJ)’s share price rose 1.1% during mid-day trading on Wednesday . The company traded as high as $241.26 and last traded at $240.9690. Approximately 6,784,260 shares changed hands during trading, a decline of 27% from the average daily volume of 9,249,161 shares. The stock had previously closed at $238.35.

Wall Street Analyst Weigh In

Several brokerages have weighed in on JNJ. Morgan Stanley set a $262.00 target price on Johnson & Johnson and gave the company an “overweight” rating in a research note on Wednesday, January 28th. Sanford C. Bernstein upped their price target on shares of Johnson & Johnson from $208.00 to $225.00 and gave the stock a “market perform” rating in a research note on Friday, January 23rd. The Goldman Sachs Group reiterated a “buy” rating and set a $250.00 price objective on shares of Johnson & Johnson in a research note on Thursday, January 22nd. BMO Capital Markets restated an “outperform” rating on shares of Johnson & Johnson in a research report on Thursday, December 11th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Johnson & Johnson in a research note on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $233.73.

Johnson & Johnson Price Performance

The stock’s fifty day moving average price is $214.86 and its 200-day moving average price is $195.19. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.07 and a quick ratio of 0.80. The firm has a market cap of $580.57 billion, a price-to-earnings ratio of 21.81, a price-to-earnings-growth ratio of 2.32 and a beta of 0.35.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Saturday, January 31st. The company reported $2.46 earnings per share for the quarter. The firm had revenue of $24.28 billion for the quarter. Johnson & Johnson had a net margin of 28.46% and a return on equity of 33.34%. Equities research analysts predict that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, February 24th. Johnson & Johnson’s dividend payout ratio is currently 47.06%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Blueline Advisors LLC bought a new position in Johnson & Johnson during the fourth quarter valued at approximately $25,000. Abich Financial Wealth Management LLC acquired a new position in shares of Johnson & Johnson during the 3rd quarter worth $26,000. Cresta Advisors Ltd. bought a new position in shares of Johnson & Johnson during the 4th quarter valued at $26,000. Evolution Wealth Management Inc. bought a new position in Johnson & Johnson during the second quarter valued at about $27,000. Finally, Clayton Financial Group LLC acquired a new stake in shares of Johnson & Johnson in the third quarter worth about $28,000. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Company Profile

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.