Johnson & Johnson (NYSE:JNJ) Stock Price Up 0.9% - Here's What Happened

On Wednesday, shares of Johnson & Johnson (NYSE:JNJ) experienced a modest increase of 0.9%. The stock rose to a peak of $144.67 before settling at $144.62 by the end of the trading session. The trading volume reached approximately 5,810,552 shares, which is a decrease of 19% from the average daily volume of 7,169,257 shares. Prior to this uptick, the stock had closed the previous day at $143.34.

Analysts Set New Price Targets

A variety of analysts have recently provided updates on JNJ shares. For instance, Morgan Stanley raised their target price for Johnson & Johnson from $169.00 to $175.00 and assigned an "equal weight" rating in a research note released on October 16th. Additionally, Wells Fargo & Company increased their price target from $163.00 to $166.00, also giving the stock an "equal weight" rating on the same day.

Royal Bank of Canada set a new price target of $181.00, up from $178.00, along with an "outperform" rating on October 16th. Wolfe Research began its coverage of Johnson & Johnson's stock on November 15th, setting a target price of $190.00 with an "outperform" rating.

In a recent update on September 14th, StockNews.com upgraded Johnson & Johnson from a "buy" to a "strong buy" rating. Overall, seven analysts currently recommend holding the stock, while another seven suggest buying it, and one rates it as a strong buy. According to MarketBeat, the consensus rating for Johnson & Johnson is classified as a "Moderate Buy," with an average price target of $174.73.

Johnson & Johnson Price Performance

The company has a debt-to-equity ratio of 0.45, indicating a relatively moderate debt level. The current ratio stands at 1.03, and the quick ratio is 0.79. The stock's 50-day moving average price is recorded at $152.55, and the 200-day moving average price is $156.31. Johnson & Johnson's current market capitalization is $348.19 billion, with a price-to-earnings ratio of 20.93, a price-to-earnings-growth ratio of 2.52, and a beta value of 0.51.

Recently, Johnson & Johnson announced its quarterly earnings results on October 15th, revealing an earnings per share (EPS) of $2.42 for the quarter, surpassing the consensus estimate of $2.21 by $0.21. The company reported a net margin of 19.14% and a return on equity of 35.45%. Their quarterly revenue reached $22.47 billion, exceeding analyst expectations of $22.17 billion. Compared to the same quarter last year, the revenue showed a year-over-year increase of 5.2%.

Johnson & Johnson Announces Dividend

Johnson & Johnson has also declared a quarterly dividend, which was paid on December 10th. Shareholders who were on record by November 26th received a dividend of $1.24 per share, resulting in an annualized dividend of $4.96, reflecting a dividend yield of 3.43%. The ex-dividend date was also noted as November 26th, and the company's payout ratio stands at 71.78%.

Insider Activity

In related news, Director Mark A. Weinberger bought 1,000 shares of Johnson & Johnson on December 12th, purchasing them at an average price of $147.22 per share, totaling approximately $147,220. This acquisition increased his ownership of the stock significantly. The transaction was officially disclosed through a filing with the SEC. At present, insiders hold about 0.16% of the company’s shares.

Hedge Funds Weigh In On Johnson & Johnson

In recent months, several large investors have made adjustments to their holdings of Johnson & Johnson. Highline Wealth Partners LLC acquired a new stake during the third quarter valued at $31,000, while RPg Family Wealth Advisory LLC purchased a new stake worth approximately $35,000. Mowery & Schoenfeld Wealth Management LLC increased its holdings by 58.7% in the same period and now owns 246 shares valued at $40,000 after buying an additional 91 shares. Activest Wealth Management also added a new stake worth around $40,000, while Morton Brown Family Wealth LLC raised its holdings by 400% during the third quarter, acquiring 250 shares valued at $41,000.

Currently, institutional investors possess approximately 69.55% of Johnson & Johnson's stock.

Johnson & Johnson Company Profile

Johnson & Johnson operates through its subsidiaries, focusing on the research, development, manufacturing, and sale of various healthcare products globally. Its Innovative Medicine segment provides a range of products for multiple therapeutic areas, including immunology, infectious diseases, neuroscience, oncology, cardiovascular health, and metabolism. The products are distributed through various channels such as retailers, wholesalers, and healthcare professionals for prescription use.

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