Johnson & Johnson (NYSE:JNJ) Reaches New 12-Month Low – Here’s What Happened

Shares of Johnson & Johnson (NYSE:JNJ) hit a new 52-week low during trading on Friday . The company traded as low as $142.75 and last traded at $144.00, with a volume of 1958380 shares changing hands. The stock had previously closed at $143.58.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on JNJ. Citigroup dropped their price target on shares of Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a report on Wednesday, October 16th. Wolfe Research started coverage on Johnson & Johnson in a research note on Friday, November 15th. They issued an “outperform” rating and a $190.00 price objective on the stock. Royal Bank of Canada boosted their price objective on Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, Bank of America reaffirmed a “neutral” rating and set a $166.00 price target on shares of Johnson & Johnson in a report on Tuesday, December 10th. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $174.73.

Johnson & Johnson Price Performance

The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.79 and a current ratio of 1.03. The firm’s fifty day simple moving average is $155.16 and its 200 day simple moving average is $156.30. The firm has a market cap of $347.83 billion, a P/E ratio of 20.91, a P/E/G ratio of 2.52 and a beta of 0.51.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.21. The business had revenue of $22.47 billion during the quarter, compared to analysts’ expectations of $22.17 billion. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.66 EPS. As a group, analysts forecast that Johnson & Johnson will post 9.94 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th were given a dividend of $1.24 per share. The ex-dividend date was Tuesday, November 26th. This represents a $4.96 annualized dividend and a yield of 3.43%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 71.78%.

Insider Transactions at Johnson & Johnson

In related news, Director Mark A. Weinberger purchased 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were bought at an average price of $147.22 per share, for a total transaction of $147,220.00. Following the acquisition, the director now owns 1,000 shares of the company’s stock, valued at approximately $147,220. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of JNJ. Innealta Capital LLC purchased a new stake in Johnson & Johnson in the 2nd quarter worth about $27,000. Highline Wealth Partners LLC bought a new position in shares of Johnson & Johnson during the third quarter valued at approximately $31,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of Johnson & Johnson in the third quarter worth approximately $35,000. Mowery & Schoenfeld Wealth Management LLC lifted its stake in shares of Johnson & Johnson by 58.7% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock worth $40,000 after acquiring an additional 91 shares during the last quarter. Finally, Activest Wealth Management bought a new position in Johnson & Johnson in the 3rd quarter valued at $40,000. Institutional investors own 69.55% of the company’s stock.

About Johnson & Johnson

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.