Johnson & Johnson (NYSE:JNJ) Stock Price Down 1.3% After Analyst Downgrade

Johnson & Johnson (NYSE:JNJ) shares traded down 1.3% during trading on Wednesday after Citigroup lowered their price target on the stock from $185.00 to $175.00. Citigroup currently has a buy rating on the stock. Johnson & Johnson traded as low as $147.25 and last traded at $147.31. 1,719,960 shares traded hands during trading, a decline of 76% from the average session volume of 7,071,828 shares. The stock had previously closed at $149.23.

A number of other research analysts have also commented on the company. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. Cantor Fitzgerald reiterated an “overweight” rating and issued 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 report on Friday, November 15th. They set an “outperform” rating and a $190.00 price objective for the company. Royal Bank of Canada raised their target price on shares of Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, Guggenheim boosted their price target on shares of Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $174.73.

Insider Activity

In related news, Director Mark A. Weinberger bought 1,000 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were purchased at an average cost 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 purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.16% of the stock is owned by company insiders.

Institutional Investors Weigh In On Johnson & Johnson

Several large investors have recently made changes to their positions in the stock. DGS Capital Management LLC boosted its stake in Johnson & Johnson by 17.5% in the 3rd quarter. DGS Capital Management LLC now owns 5,404 shares of the company’s stock worth $876,000 after purchasing an additional 804 shares during the period. Copley Financial Group Inc. acquired a new position in shares of Johnson & Johnson during the third quarter worth about $676,000. Retirement Systems of Alabama grew its holdings in shares of Johnson & Johnson by 4.0% during the third quarter. Retirement Systems of Alabama now owns 1,243,090 shares of the company’s stock worth $201,455,000 after buying an additional 48,250 shares in the last quarter. Oddo BHF Asset Management Sas acquired a new stake in Johnson & Johnson in the 3rd quarter valued at approximately $406,000. Finally, Inspire Trust Co. N.A. lifted its stake in Johnson & Johnson by 12.2% in the 3rd quarter. Inspire Trust Co. N.A. now owns 24,063 shares of the company’s stock valued at $3,900,000 after acquiring an additional 2,610 shares in the last quarter. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Trading Down 0.3 %

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 stock has a market cap of $352.07 billion, a price-to-earnings ratio of 21.28, a P/E/G ratio of 2.66 and a beta of 0.51. The business has a 50-day simple moving average of $157.29 and a two-hundred day simple moving average of $156.35.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, topping the consensus estimate of $2.21 by $0.21. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The business had revenue of $22.47 billion during the quarter, compared to analysts’ expectations of $22.17 billion. During the same quarter in the prior year, the company posted $2.66 earnings per share. The firm’s revenue was up 5.2% on a year-over-year basis. As a group, research analysts forecast that Johnson & Johnson will post 9.93 EPS for the current year.

Johnson & Johnson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th were given a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date was Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio is currently 71.78%.

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.