Magnetar Financial LLC Invests $80.75 Million in Johnson & Johnson (NYSE:JNJ)

Magnetar Financial LLC acquired a new position in shares of Johnson & Johnson (NYSE:JNJ) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 552,484 shares of the company’s stock, valued at approximately $80,751,000. Johnson & Johnson accounts for approximately 1.7% of Magnetar Financial LLC’s holdings, making the stock its 13th biggest holding.

A number of other hedge funds have also bought and sold shares of the company. Citizens & Northern Corp boosted its holdings in shares of Johnson & Johnson by 3.5% during the 2nd quarter. Citizens & Northern Corp now owns 1,884 shares of the company’s stock worth $275,000 after buying an additional 63 shares in the last quarter. Carolinas Wealth Consulting LLC grew its holdings in Johnson & Johnson by 0.4% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 16,861 shares of the company’s stock worth $2,643,000 after purchasing an additional 64 shares during the period. Epic Trust Investment Advisors LLC increased its stake in Johnson & Johnson by 3.6% in the second quarter. Epic Trust Investment Advisors LLC now owns 1,831 shares of the company’s stock valued at $268,000 after purchasing an additional 64 shares in the last quarter. Pine Harbor Wealth Management LLC grew its holdings in Johnson & Johnson by 1.9% during the second quarter. Pine Harbor Wealth Management LLC now owns 3,472 shares of the company’s stock worth $507,000 after buying an additional 64 shares in the last quarter. Finally, Outfitter Financial LLC lifted its stake in Johnson & Johnson by 0.4% during the 2nd quarter. Outfitter Financial LLC now owns 16,632 shares of the company’s stock valued at $2,431,000 after acquiring an additional 65 shares in the last quarter. Institutional investors own 69.55% of the company’s stock.

Insider Activity

In other news, VP Robert J. Decker sold 5,635 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of the sale, the vice president now owns 18,973 shares of the company’s stock, valued at $3,131,683.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.16% of the stock is currently owned by corporate insiders.

Johnson & Johnson Price Performance

JNJ opened at $164.16 on Monday. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $395.08 billion, a P/E ratio of 10.23, a PEG ratio of 2.71 and a beta of 0.53. The stock has a 50-day moving average price of $161.30 and a 200-day moving average price of $154.12. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $168.85.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, beating analysts’ consensus estimates of $2.71 by $0.11. The business had revenue of $22.45 billion for the quarter, compared to analysts’ expectations of $22.33 billion. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The business’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period last year, the business earned $2.80 earnings per share. Equities analysts predict that Johnson & Johnson will post 10.02 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were issued a $1.24 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $4.96 annualized dividend and a dividend yield of 3.02%. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on JNJ. TD Securities lowered their target price on shares of Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research note on Monday, September 16th. TD Cowen cut their price objective on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Sanford C. Bernstein increased their price target on shares of Johnson & Johnson from $161.00 to $171.00 in a research report on Thursday, July 18th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 target price on shares of Johnson & Johnson in a research report on Friday. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $173.21.

Johnson & Johnson Profile

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.