LGT Fund Management Co Ltd. Grows Stake in Johnson & Johnson $JNJ

LGT Fund Management Co Ltd. raised its stake in shares of Johnson & Johnson (NYSE:JNJ) by 770.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 112,310 shares of the company’s stock after purchasing an additional 99,411 shares during the period. Johnson & Johnson accounts for about 1.2% of LGT Fund Management Co Ltd.’s portfolio, making the stock its 16th biggest position. LGT Fund Management Co Ltd.’s holdings in Johnson & Johnson were worth $27,453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Blueline Advisors LLC bought a new position in shares of Johnson & Johnson during the fourth quarter valued at approximately $25,000. Cresta Advisors Ltd. bought a new stake in shares of Johnson & Johnson during the 4th quarter worth approximately $26,000. DecisionPoint Financial LLC grew its position in Johnson & Johnson by 104.2% in the 4th quarter. DecisionPoint Financial LLC now owns 147 shares of the company’s stock valued at $30,000 after acquiring an additional 75 shares during the last quarter. Semmax Financial Advisors Inc. increased its stake in Johnson & Johnson by 55.0% in the second quarter. Semmax Financial Advisors Inc. now owns 203 shares of the company’s stock worth $31,000 after purchasing an additional 72 shares during the period. Finally, Family CFO Inc purchased a new stake in Johnson & Johnson in the fourth quarter worth $31,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Trading Down 1.6%

Shares of NYSE JNJ opened at $253.70 on Wednesday. Johnson & Johnson has a 1-year low of $154.80 and a 1-year high of $269.43. The business has a fifty day moving average price of $238.18 and a 200 day moving average price of $233.92. The stock has a market capitalization of $610.71 billion, a P/E ratio of 29.33, a price-to-earnings-growth ratio of 2.46 and a beta of 0.24. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.03 and a quick ratio of 0.77.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Tuesday, April 14th. The company reported $2.70 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.02. Johnson & Johnson had a net margin of 21.83% and a return on equity of 32.60%. The business had revenue of $24.06 billion during the quarter, compared to the consensus estimate of $23.60 billion. During the same period in the previous year, the company posted $2.77 earnings per share. The firm’s revenue was up 9.9% on a year-over-year basis. Equities research analysts expect that Johnson & Johnson will post 11.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on JNJ. Leerink Partners raised shares of Johnson & Johnson from a “market perform” rating to an “outperform” rating and set a $265.00 target price for the company in a research note on Wednesday, May 13th. Argus lifted their price objective on shares of Johnson & Johnson from $240.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Sanford C. Bernstein boosted their price objective on shares of Johnson & Johnson from $225.00 to $251.00 and gave the company a “market perform” rating in a research report on Wednesday, April 15th. TD Cowen upped their target price on shares of Johnson & Johnson from $250.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Weiss Ratings lowered shares of Johnson & Johnson from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, June 15th. Twenty equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, Johnson & Johnson currently has an average rating of “Moderate Buy” and an average price target of $261.26.

Insider Activity at Johnson & Johnson

In related news, EVP Kathryn E. Wengel sold 10,000 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $241.15, for a total transaction of $2,411,500.00. Following the completion of the sale, the executive vice president owned 114,288 shares of the company’s stock, valued at $27,560,551.20. This represents a 8.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.16% of the stock is currently owned by company insiders.

More Johnson & Johnson News

Here are the key news stories impacting Johnson & Johnson this week:

• Positive Sentiment: Analysts expect Johnson & Johnson to post a solid Q2 print, with commentary pointing to an upbeat report even as Stelara faces headwinds. Johnson & Johnson: Analysts see upbeat Q2 print despite Stelara headwinds
• Positive Sentiment: Several preview pieces say JNJ is trading near all-time highs and could still have more upside if earnings and guidance come in strong. Johnson & Johnson Q2 Preview: Stock Near All-Time Highs, Market Expert Sees Rally to $282
• Positive Sentiment: RBC raised its price target on JNJ to $287 from $265 and maintained an outperform rating, reinforcing bullish sentiment.
• Positive Sentiment: Coverage also highlighted JNJ’s strong year-to-date run and defensive healthcare appeal, which has supported investor demand ahead of earnings. Johnson & Johnson Reports Q2 Earnings Tomorrow. What Investors Should Expect.
• Neutral Sentiment: Other articles focused on JNJ as a dividend and income stock, which may support valuation but did not add new material catalysts. How to earn $500 a month from Johnson & Johnson stock ahead of Q2 earnings
• Negative Sentiment: Some commentary noted the stock’s rich valuation after a big rally, suggesting investors may be paying a premium heading into the report. What Lilly’s Peer-Beating Numbers Cost You

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.