Johnson & Johnson (NYSE:JNJ) Shares Down 3.1% After Analyst Downgrade

Johnson & Johnson (NYSE:JNJ) dropped 3.1% on Wednesday after Barclays lowered their price target on the stock from $160.00 to $159.00. Barclays currently has an equal weight rating on the stock. Johnson & Johnson traded as low as $142.11 and last traded at $143.55. Approximately 5,436,238 shares traded hands during mid-day trading, a decline of 36% from the average daily volume of 8,514,245 shares. The stock had previously closed at $148.15.

Other research analysts also recently issued research reports about the company. Wolfe Research started coverage on Johnson & Johnson in a research note on Friday, November 15th. They set an “outperform” rating and a $190.00 price target for the company. Morgan Stanley increased their price target on shares of Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research note on Wednesday, October 16th. Citigroup dropped their price target on Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. Finally, StockNews.com lowered Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 17th. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $173.27.

Insider Buying and Selling

In other news, Director Mark A. Weinberger bought 1,000 shares of Johnson & Johnson stock in a transaction that occurred on Thursday, December 12th. The shares were purchased at an average price of $147.22 per share, for a total transaction of $147,220.00. Following the completion of the acquisition, the director now owns 1,000 shares of the company’s stock, valued at $147,220. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Johnson & Johnson

Large investors have recently modified their holdings of the company. Wescott Financial Advisory Group LLC grew its stake in shares of Johnson & Johnson by 50.5% in the second quarter. Wescott Financial Advisory Group LLC now owns 16,637 shares of the company’s stock valued at $2,432,000 after buying an additional 5,581 shares in the last quarter. Zurich Insurance Group Ltd FI boosted its holdings in Johnson & Johnson by 366.6% in the 2nd quarter. Zurich Insurance Group Ltd FI now owns 145,105 shares of the company’s stock worth $21,209,000 after acquiring an additional 114,005 shares during the period. Fred Alger Management LLC grew its position in Johnson & Johnson by 6.1% in the second quarter. Fred Alger Management LLC now owns 42,968 shares of the company’s stock valued at $6,280,000 after acquiring an additional 2,488 shares in the last quarter. Toronto Dominion Bank raised its stake in shares of Johnson & Johnson by 13.0% during the second quarter. Toronto Dominion Bank now owns 1,197,314 shares of the company’s stock valued at $174,999,000 after purchasing an additional 137,292 shares during the period. Finally, Trinity Legacy Partners LLC lifted its position in shares of Johnson & Johnson by 5.7% during the second quarter. Trinity Legacy Partners LLC now owns 31,616 shares of the company’s stock worth $4,621,000 after purchasing an additional 1,699 shares in the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Down 1.9 %

The firm’s 50 day moving average price is $148.26 and its two-hundred day moving average price is $156.12. The firm has a market capitalization of $350.04 billion, a PE ratio of 21.04, a P/E/G ratio of 2.50 and a beta of 0.51. The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.05. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The company had revenue of $22.52 billion during the quarter, compared to analysts’ expectations of $22,438,500 billion. During the same period in the prior year, the company posted $2.29 EPS. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, research analysts forecast that Johnson & Johnson will post 9.95 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be issued a dividend of $1.24 per share. The ex-dividend date is Tuesday, February 18th. This represents a $4.96 annualized dividend and a yield of 3.41%. Johnson & Johnson’s dividend payout ratio is presently 71.78%.

About Johnson & Johnson

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.