Johnson & Johnson (NYSE:JNJ) Stock Price Up 0.9% - Here's What Happened

On Wednesday, shares of Johnson & Johnson (NYSE:JNJ) increased by 0.9%. The stock reached a high of $144.67 before closing at $144.62. During the day's trading, approximately 5,810,552 shares were exchanged, which is a 19% decrease compared to the average daily volume of 7,169,257 shares. The previous closing price was $143.34.

Analysts have been actively updating their views on JNJ shares. Research from Morgan Stanley indicated a target price increase for Johnson & Johnson from $169.00 to $175.00, maintaining an "equal weight" rating as of October 16th. Additionally, Wells Fargo & Company raised their price objective from $163.00 to $166.00 while also giving an "equal weight" rating. Royal Bank of Canada also revised their target upward from $178.00 to $181.00 with an "outperform" rating on the same day. On November 15th, Wolfe Research began coverage on the company, setting a target of $190.00 with an "outperform" rating. Meanwhile, StockNews.com upgraded Johnson & Johnson from a "buy" to a "strong-buy" rating back in mid-September. Overall, the current consensus rating stands at "Moderate Buy" with an average price target of $174.73.

Recent Financial Performance

Johnson & Johnson displayed solid financial health with a debt-to-equity ratio of 0.45. The current ratio is at 1.03, while the quick ratio is 0.79. The company boasts a market capitalization of $348.19 billion, a P/E ratio of 20.93, and a price-to-earnings-growth ratio of 2.52, indicating a beta of 0.51. In their latest quarterly earnings report released on October 15th, J&J posted earnings per share (EPS) of $2.42, surpassing the consensus estimate of $2.21. The company recorded a net margin of 19.14% and a return on equity of 35.45%. Revenue for the quarter totaled $22.47 billion, slightly beating analyst expectations of $22.17 billion, showing a year-over-year increase of 5.2%. Analysts predict an EPS of 9.94 for the current year.

Dividend Announcement

The company has recently announced a quarterly dividend which was disbursed on December 10th. Stockholders on record as of November 26th received $1.24 per share, bringing the annualized dividend to $4.96, which translates to a yield of 3.43%. The payout ratio stands at 71.78%.

Insider Transactions

In other notable news, Director Mark A. Weinberger acquired 1,000 shares of J&J stock on December 12th, purchasing them at an average price of $147.22, totaling $147,220. This purchase highlights an increase in his ownership of the stock. The transaction has been reported through the SEC.

Institutional Investor Activity

Hedge funds and large investors have actively adjusted their positions regarding Johnson & Johnson. Highline Wealth Partners LLC made a new investment during the third quarter valued at approximately $31,000. RPg Family Wealth Advisory LLC also made a new stake purchase worth around $35,000. Notably, Mowery & Schoenfeld Wealth Management LLC increased its holding by 58.7%, now owning 246 shares valued at $40,000 after acquiring additional shares. Additionally, Morton Brown Family Wealth LLC drastically boosted its stake by 400% in the same quarter, now reflecting ownership of 250 shares worth $41,000. Currently, 69.55% of the stock is held by institutional investors.

Company Overview

Johnson & Johnson, along with its subsidiaries, is engaged in research, development, manufacturing, and marketing of various healthcare products around the globe. Its Innovative Medicine segment covers multiple therapeutic areas, including immunology, infectious diseases, neuroscience, oncology, and cardiovascular sectors. The company distributes its offerings through various channels including retailers, hospitals, and healthcare professionals.

Stock, Analysts, Dividends