Johnson & Johnson (NYSE:JNJ) Shares Down 1.3% Following Analyst Downgrade

Johnson & Johnson (NYSE:JNJ - Get Free Report) shares fell 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 mid-day trading, a decline of 76% from the average session volume of 7,071,828 shares. The stock had previously closed at $149.23.

Other analysts also recently issued reports about the company. Bank of America reiterated a "neutral" rating and set a $166.00 target price on shares of Johnson & Johnson in a research note on Tuesday. Royal Bank of Canada increased their price objective on Johnson & Johnson from $178.00 to $181.00 and gave the company an "outperform" rating in a research report on Wednesday, October 16th. Wells Fargo & Company upped their target price on shares of Johnson & Johnson from $163.00 to $166.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 16th. Morgan Stanley lifted their price target on shares of Johnson & Johnson from $169.00 to $175.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 16th. Finally, Guggenheim increased their price objective on shares of Johnson & Johnson from $156.00 to $162.00 and gave the company a "neutral" rating in a research report on Wednesday, November 6th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $174.73.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of JNJ. DGS Capital Management LLC lifted its position in shares of Johnson & Johnson by 17.5% in the third quarter. DGS Capital Management LLC now owns 5,404 shares of the company's stock valued at $876,000 after acquiring an additional 804 shares in the last quarter. Copley Financial Group Inc. bought a new position in Johnson & Johnson in the 3rd quarter worth approximately $676,000. Retirement Systems of Alabama grew its holdings in Johnson & Johnson by 4.0% during the 3rd quarter. Retirement Systems of Alabama now owns 1,243,090 shares of the company's stock valued at $201,455,000 after buying an additional 48,250 shares in the last quarter. Oddo BHF Asset Management Sas purchased a new position in shares of Johnson & Johnson in the third quarter worth $406,000. Finally, Inspire Trust Co. N.A. boosted its position in shares of Johnson & Johnson by 12.2% during the third quarter. Inspire Trust Co. N.A. now owns 24,063 shares of the company's stock worth $3,900,000 after acquiring an additional 2,610 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company's stock.

Johnson & Johnson Stock Performance

The business's fifty day simple moving average is $157.58 and its 200-day simple moving average is $156.42. The company has a market capitalization of $353.63 billion, a P/E ratio of 21.25, a P/E/G ratio of 2.66 and a beta of 0.51. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.79 and a current ratio of 1.03.

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

Johnson & Johnson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th were paid a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date was Tuesday, November 26th. Johnson & Johnson's payout ratio is 71.78%.

Johnson & Johnson Company Profile

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.

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