Johnson & Johnson (NYSE:JNJ) Reaches New 52-Week High – Here’s What Happened

Johnson & Johnson (NYSE:JNJ)’s share price reached a new 52-week high on Thursday . The stock traded as high as $209.79 and last traded at $210.6880, with a volume of 1653358 shares traded. The stock had previously closed at $206.54.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Barclays upped their price objective on shares of Johnson & Johnson from $176.00 to $197.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 2nd. Loop Capital set a $190.00 price target on Johnson & Johnson in a research report on Wednesday, October 22nd. UBS Group lifted their price target on Johnson & Johnson from $190.00 to $214.00 and gave the stock a “buy” rating in a report on Tuesday, October 14th. Raymond James Financial raised their target price on Johnson & Johnson from $174.00 to $209.00 and gave the company an “outperform” rating in a research report on Wednesday, October 15th. Finally, Sanford C. Bernstein boosted their price target on shares of Johnson & Johnson from $172.00 to $193.00 and gave the stock a “market perform” rating in a report on Monday, October 6th. Four analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.45.

Johnson & Johnson Price Performance

The firm has a 50 day moving average price of $195.15 and a two-hundred day moving average price of $176.44. The company has a market cap of $506.41 billion, a P/E ratio of 20.29, a P/E/G ratio of 2.23 and a beta of 0.36. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.80 and a current ratio of 1.07.

Johnson & Johnson (NYSE:JNJ) last issued 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, analysts predict that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 25th were given a dividend of $1.30 per share. The ex-dividend date was Tuesday, November 25th. This represents a $5.20 annualized dividend and a dividend yield of 2.5%. Johnson & Johnson’s dividend payout ratio is currently 50.19%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC raised its holdings in shares of Johnson & Johnson by 13.9% in the 4th quarter. Brighton Jones LLC now owns 51,876 shares of the company’s stock valued at $7,502,000 after acquiring an additional 6,332 shares in the last quarter. United Bank grew its stake in Johnson & Johnson by 110.7% in the 1st quarter. United Bank now owns 9,279 shares of the company’s stock worth $1,539,000 after buying an additional 4,876 shares in the last quarter. Stone House Investment Management LLC purchased a new position in Johnson & Johnson in the 1st quarter worth approximately $47,000. MSH Capital Advisors LLC increased its holdings in shares of Johnson & Johnson by 0.7% in the 1st quarter. MSH Capital Advisors LLC now owns 14,989 shares of the company’s stock worth $2,486,000 after buying an additional 106 shares during the last quarter. Finally, Klingman & Associates LLC lifted its holdings in shares of Johnson & Johnson by 13.4% during the 1st quarter. Klingman & Associates LLC now owns 16,984 shares of the company’s stock worth $2,817,000 after acquiring an additional 2,005 shares during the last quarter. Institutional investors own 69.55% of the company’s stock.

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.