Johnson & Johnson (NYSE:JNJ) Stock Price Up 1.3% - Here's Why

Johnson & Johnson (NYSE:JNJ - Get Free Report) shares were up 1.3% during mid-day trading on Thursday . The stock traded as high as $163.69 and last traded at $163.86. Approximately 1,553,334 shares were traded during trading, a decline of 78% from the average daily volume of 7,064,598 shares. The stock had previously closed at $161.72.

Wall Street Analysts Forecast Growth

JNJ has been the subject of a number of research reports. Barclays lifted their price objective on shares of Johnson & Johnson from $159.00 to $166.00 and gave the stock an "equal weight" rating in a report on Tuesday, January 28th. StockNews.com raised shares of Johnson & Johnson from a "buy" rating to a "strong-buy" rating in a research report on Saturday, January 25th. Argus raised shares of Johnson & Johnson to a "strong-buy" rating in a report on Friday, January 24th. Wells Fargo & Company lowered their target price on Johnson & Johnson from $166.00 to $152.00 and set an "equal weight" rating for the company in a report on Thursday, January 23rd. Finally, Morgan Stanley cut their price target on Johnson & Johnson from $175.00 to $163.00 and set an "equal weight" rating on the stock in a report on Thursday, January 23rd. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $171.33.

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Johnson & Johnson Trading Up 0.3 %

The business's 50 day moving average price is $158.68 and its two-hundred day moving average price is $156.13. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.86 and a current ratio of 1.11. The company has a market capitalization of $394.32 billion, a price-to-earnings ratio of 24.61, a price-to-earnings-growth ratio of 2.56 and a beta of 0.47.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share for the quarter, topping analysts' consensus estimates of $1.99 by $0.05. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. The firm had revenue of $22.52 billion during the quarter, compared to the consensus estimate of $22.44 billion. During the same period in the prior year, the firm posted $2.29 earnings per share. The firm's revenue for the quarter was up 5.3% compared to the same quarter last year. Equities analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were issued a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date was Tuesday, February 18th. Johnson & Johnson's payout ratio is 74.59%.

Insider Transactions at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 6,999 shares of the company's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $165.88, for a total transaction of $1,160,994.12. Following the completion of the sale, the vice president now directly owns 21,001 shares of the company's stock, valued at approximately $3,483,645.88. This represents a 25.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Timothy Schmid sold 403 shares of Johnson & Johnson stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $156.15, for a total transaction of $62,928.45. Following the completion of the transaction, the executive vice president now directly owns 15,098 shares in the company, valued at approximately $2,357,552.70. This trade represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company's stock.

Hedge Funds Weigh In On Johnson & Johnson

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in JNJ. Fire Capital Management LLC purchased a new stake in shares of Johnson & Johnson in the fourth quarter valued at $212,000. Mascagni Wealth Management Inc. purchased a new stake in Johnson & Johnson in the 4th quarter worth about $154,000. Nestegg Advisors Inc. acquired a new stake in Johnson & Johnson during the 4th quarter worth about $251,000. Fairtree Asset Management Pty Ltd purchased a new position in Johnson & Johnson during the 4th quarter valued at about $883,000. Finally, DSG Capital Advisors LLC purchased a new stake in shares of Johnson & Johnson in the fourth quarter worth approximately $2,888,000. Institutional investors and hedge funds 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.