Johnson & Johnson (NYSE:JNJ) Reaches New 1-Year High – Here’s Why

Johnson & Johnson (NYSE:JNJ) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $194.66 and last traded at $194.2750, with a volume of 1596315 shares trading hands. The stock had previously closed at $193.83.

Analyst Upgrades and Downgrades

JNJ has been the topic of several analyst reports. Stifel Nicolaus increased their price target on shares of Johnson & Johnson from $165.00 to $190.00 and gave the stock a “hold” rating in a research note on Wednesday, October 15th. Wells Fargo & Company set a $212.00 price target on Johnson & Johnson and gave the stock an “overweight” rating in a research report on Friday, October 3rd. Loop Capital set a $190.00 price objective on Johnson & Johnson in a report on Wednesday, October 22nd. UBS Group boosted their target price on Johnson & Johnson from $190.00 to $214.00 and gave the stock a “buy” rating in a report on Tuesday, October 14th. Finally, Cowen reiterated a “buy” rating on shares of Johnson & Johnson in a report on Tuesday, October 14th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $199.05.

Johnson & Johnson Price Performance

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 stock has a fifty day simple moving average of $184.79 and a 200-day simple moving average of $169.31. The stock has a market cap of $468.65 billion, a price-to-earnings ratio of 18.78, a price-to-earnings-growth ratio of 2.19 and a beta of 0.38.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Wednesday, August 30th. The company reported $2.26 earnings per share for the quarter. The company had revenue of $24.02 billion during the quarter. Johnson & Johnson had a return on equity of 32.73% and a net margin of 27.26%. As a group, equities research analysts expect 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. Stockholders of record on Tuesday, November 25th will be issued a dividend of $1.30 per share. The ex-dividend date is Tuesday, November 25th. This represents a $5.20 annualized dividend and a dividend yield of 2.7%. Johnson & Johnson’s payout ratio is presently 50.19%.

Insider Activity at Johnson & Johnson

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $177.81, for a total value of $10,041,108.51. Following the completion of the sale, the executive vice president owned 178,013 shares in the company, valued at approximately $31,652,491.53. This trade represents a 24.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Johnson & Johnson

Several large investors have recently added to or reduced their stakes in the company. SOA Wealth Advisors LLC. increased its holdings in Johnson & Johnson by 0.7% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 7,392 shares of the company’s stock valued at $1,371,000 after buying an additional 53 shares during the period. Ethos Financial Group LLC increased its stake in Johnson & Johnson by 0.6% in the third quarter. Ethos Financial Group LLC now owns 9,110 shares of the company’s stock valued at $1,689,000 after acquiring an additional 53 shares during the period. Pinnacle Holdings LLC raised its position in Johnson & Johnson by 0.5% in the third quarter. Pinnacle Holdings LLC now owns 11,214 shares of the company’s stock worth $2,079,000 after purchasing an additional 54 shares in the last quarter. Heritage Oak Wealth Advisors LLC lifted its stake in Johnson & Johnson by 3.5% during the third quarter. Heritage Oak Wealth Advisors LLC now owns 1,639 shares of the company’s stock worth $304,000 after purchasing an additional 55 shares during the period. Finally, Investor s Fiduciary Advisor Network LLC boosted its holdings in Johnson & Johnson by 0.8% during the third quarter. Investor s Fiduciary Advisor Network LLC now owns 6,905 shares of the company’s stock valued at $1,280,000 after purchasing an additional 55 shares in the last quarter. Institutional investors and hedge funds 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.