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

Johnson & Johnson (NYSE:JNJ)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $207.57 and last traded at $206.4350, with a volume of 1449028 shares trading hands. The stock had previously closed at $206.05.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on JNJ shares. Sanford C. Bernstein lifted their price objective on Johnson & Johnson from $172.00 to $193.00 and gave the company a “market perform” rating in a research report on Monday, October 6th. Loop Capital set a $190.00 target price on Johnson & Johnson in a research report on Wednesday, October 22nd. UBS Group lifted their price objective on Johnson & Johnson from $190.00 to $214.00 and gave the stock a “buy” rating in a research report on Tuesday, October 14th. Daiwa America raised shares of Johnson & Johnson from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. Finally, Guggenheim upgraded Johnson & Johnson from a “neutral” rating to a “buy” rating and raised their price target for the stock from $167.00 to $206.00 in a research report on Tuesday, September 23rd. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $201.05.

Johnson & Johnson Trading Up 0.7%

The company has a debt-to-equity ratio of 0.50, a current ratio of 1.07 and a quick ratio of 0.80. The firm’s fifty day moving average price is $188.83 and its 200-day moving average price is $172.13. The company has a market cap of $499.75 billion, a price-to-earnings ratio of 20.00, a P/E/G ratio of 2.19 and a beta of 0.38.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Wednesday, August 30th. The company reported $2.26 earnings per share for the quarter. Johnson & Johnson had a net margin of 27.26% and a return on equity of 32.73%. The firm had revenue of $24.02 billion for the quarter. On average, equities analysts expect that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

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

Insider Transactions at Johnson & Johnson

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

Institutional Investors Weigh In On Johnson & Johnson

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Abich Financial Wealth Management LLC acquired a new position in Johnson & Johnson during the third quarter worth about $26,000. Evolution Wealth Management Inc. acquired a new position in shares of Johnson & Johnson in the 2nd quarter worth approximately $27,000. Clayton Financial Group LLC bought a new stake in shares of Johnson & Johnson in the 3rd quarter worth approximately $28,000. Semmax Financial Advisors Inc. lifted its stake in Johnson & Johnson by 55.0% during the second quarter. Semmax Financial Advisors Inc. now owns 203 shares of the company’s stock valued at $31,000 after purchasing an additional 72 shares during the last quarter. Finally, GFG Capital LLC bought a new stake in Johnson & Johnson during the second quarter worth approximately $35,000. 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.