Johnson & Johnson (NYSE:JNJ) Short Interest Up 6.7% in August

Johnson & Johnson (NYSE:JNJ) was the recipient of a large growth in short interest in August. As of August 31st, there was short interest totalling 21,130,000 shares, a growth of 6.7% from the August 15th total of 19,810,000 shares. Approximately 0.9% of the company’s stock are sold short. Based on an average trading volume of 6,870,000 shares, the short-interest ratio is presently 3.1 days.

Johnson & Johnson Stock Performance

Shares of NYSE JNJ traded down $0.92 during midday trading on Wednesday, hitting $166.15. 4,687,167 shares of the stock traded hands, compared to its average volume of 7,165,531. The firm has a market capitalization of $399.87 billion, a P/E ratio of 10.37, a PEG ratio of 2.71 and a beta of 0.53. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 1.07. Johnson & Johnson has a one year low of $143.13 and a one year high of $168.85. The firm has a 50-day moving average of $160.38 and a two-hundred day moving average of $154.01.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, beating the consensus estimate of $2.71 by $0.11. The firm had revenue of $22.45 billion during the quarter, compared to analyst estimates of $22.33 billion. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.80 EPS. On average, equities analysts forecast that Johnson & Johnson will post 10.02 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend was Tuesday, August 27th. Johnson & Johnson’s payout ratio is 30.92%.

Analysts Set New Price Targets

JNJ has been the subject of a number of analyst reports. Daiwa America downgraded shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Morgan Stanley raised their price objective on Johnson & Johnson from $167.00 to $169.00 and gave the company an “equal weight” rating in a research report on Thursday, July 18th. The Goldman Sachs Group dropped their target price on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. TD Cowen lowered their price target on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Finally, TD Securities cut their price objective on shares of Johnson & Johnson from $195.00 to $185.00 in a research report on Thursday, July 18th. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $173.21.

Insider Transactions at Johnson & Johnson

In related news, VP Robert J. Decker sold 5,635 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $165.06, for a total value of $930,113.10. Following the sale, the vice president now directly owns 18,973 shares of the company’s stock, valued at $3,131,683.38. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Institutional Trading of Johnson & Johnson

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Innealta Capital LLC bought a new stake in Johnson & Johnson during the 2nd quarter worth approximately $27,000. Christopher J. Hasenberg Inc bought a new position in Johnson & Johnson in the 1st quarter worth $31,000. Vermillion & White Wealth Management Group LLC purchased a new stake in Johnson & Johnson in the 4th quarter worth $44,000. MFA Wealth Advisors LLC bought a new stake in Johnson & Johnson during the second quarter valued at about $43,000. Finally, Grayhawk Investment Strategies Inc. boosted its stake in shares of Johnson & Johnson by 528.6% in the fourth quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock worth $48,000 after acquiring an additional 259 shares during the period. Hedge funds and other institutional investors own 69.55% of the company’s stock.

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.