Johnson & Johnson (NYSE:JNJ) Stock Price Down 1.5% – Here’s Why

Johnson & Johnson (NYSE:JNJ) traded down 1.5% during mid-day trading on Thursday . The stock traded as low as $201.71 and last traded at $202.24. 8,828,593 shares changed hands during trading, a decline of 1% from the average session volume of 8,906,524 shares. The stock had previously closed at $205.33.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Royal Bank Of Canada reissued an “outperform” rating and set a $209.00 target price on shares of Johnson & Johnson in a research note on Friday, October 10th. Daiwa Capital Markets upgraded Johnson & Johnson from a “neutral” rating to an “outperform” rating and set a $203.00 price objective for the company in a research report on Monday, October 20th. Barclays raised their target price on Johnson & Johnson from $176.00 to $197.00 and gave the company an “equal weight” rating in a report on Tuesday. The Goldman Sachs Group boosted their target price on shares of Johnson & Johnson from $186.00 to $212.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. Finally, Morgan Stanley set a $190.00 price target on shares of Johnson & Johnson in a report on Wednesday, October 15th. Four analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Johnson & Johnson presently has an average rating of “Moderate Buy” and a consensus target price of $202.10.

Johnson & Johnson Stock Down 1.5%

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 has a 50 day moving average price of $193.11 and a 200-day moving average price of $174.71. The firm has a market cap of $487.25 billion, a price-to-earnings ratio of 19.52, a P/E/G ratio of 2.29 and a beta of 0.36.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Wednesday, August 30th. The company reported $2.26 earnings per share for the quarter. The firm had revenue of $24.02 billion during the quarter. Johnson & Johnson had a net margin of 27.26% and a return on equity of 32.73%. On average, equities analysts forecast that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Tuesday, November 25th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Tuesday, November 25th. Johnson & Johnson’s payout ratio is currently 50.19%.

Hedge Funds Weigh In On Johnson & Johnson

Hedge funds have recently bought and sold shares of the stock. Abich Financial Wealth Management LLC purchased a new stake in Johnson & Johnson during the 3rd quarter worth about $26,000. Clayton Financial Group LLC acquired a new stake in shares of Johnson & Johnson during the 3rd quarter worth about $28,000. Evolution Wealth Management Inc. purchased a new stake in shares of Johnson & Johnson during the second quarter worth about $27,000. Semmax Financial Advisors Inc. lifted its stake in shares of Johnson & Johnson by 55.0% during the second quarter. Semmax Financial Advisors Inc. now owns 203 shares of the company’s stock valued at $31,000 after buying an additional 72 shares during the period. Finally, Turning Point Benefit Group Inc. acquired a new stake in Johnson & Johnson during the third quarter worth approximately $41,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Company Profile

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.