Johnson & Johnson (NYSE:JNJ) Stock Price Up 0.9% - Here's What Happened
On Wednesday, shares of Johnson & Johnson (NYSE:JNJ) rose by 0.9%. The stock reached a high of $144.67 before closing at $144.62. During the trading session, approximately 5,810,552 shares were exchanged, which is a decrease of 19% compared to the average daily volume of 7,169,257 shares. The previous closing price was $143.34.
Recent Analyst Ratings
Several analysts have provided updates on Johnson & Johnson's stock. Morgan Stanley increased its price target for the company from $169.00 to $175.00 and maintained an "equal weight" rating on October 16. Similarly, Wells Fargo & Company raised its target from $163.00 to $166.00, also giving the stock an "equal weight" rating. Royal Bank of Canada increased its target from $178.00 to $181.00 while issuing an "outperform" rating. Wolfe Research began coverage of JNJ, setting a target price of $190.00 with an "outperform" rating on November 15. According to MarketBeat, Johnson & Johnson has been rated as a "Moderate Buy" by analysts, with an average price target of $174.73.
Financial Performance Overview
Johnson & Johnson's financial health is noted with a debt-to-equity ratio of 0.45. The company has a current ratio of 1.03 and a quick ratio of 0.79. The stock's 50-day moving average price stands at $152.55, while the 200-day moving average is at $156.31. It has a total market capitalization of $348.19 billion, a price-to-earnings (P/E) ratio of 20.93, and a price-to-earnings-growth (PEG) ratio of 2.52. The company's beta is 0.51, indicating lower volatility compared to the broader market.
Quarterly Earnings Report
On October 15, Johnson & Johnson announced its quarterly earnings, reporting earnings per share (EPS) of $2.42, surpassing the consensus estimate of $2.21 by $0.21. The company achieved a revenue of $22.47 billion for the quarter, exceeding analyst predictions of $22.17 billion. This revenue reflects a 5.2% increase from the previous year. Analysts are projecting that Johnson & Johnson will report total EPS of 9.94 for the current fiscal year.
Dividends and Shareholder Returns
Recently, Johnson & Johnson declared a quarterly dividend of $1.24 per share, which was paid to shareholders on December 10. This annualizes to a total dividend of $4.96, providing a dividend yield of 3.43%. The ex-dividend date was noted as November 26, and the company's payout ratio stands at 71.78%.
Insider Insights
In recent insider activity, Director Mark A. Weinberger acquired 1,000 shares of Johnson & Johnson on December 12 at an average price of $147.22 per share. This purchase totals $147,220, increasing his ownership in the company. Insiders currently own 0.16% of the stock.
Institutional Investments
Several hedge funds and institutional investors have recently adjusted their positions in Johnson & Johnson. Highline Wealth Partners LLC made a new investment worth $31,000 in the third quarter. Similarly, RPg Family Wealth Advisory LLC and Activest Wealth Management purchased new stakes valued at approximately $35,000 and $40,000, respectively. Mowery & Schoenfeld Wealth Management increased their stake by 58.7% during the same period. As of now, institutional investors hold 69.55% of Johnson & Johnson's stock.
Company Overview
Johnson & Johnson, along with its subsidiaries, engages in the research, development, manufacturing, and sales of an extensive range of healthcare products worldwide. Its segments include Innovative Medicine, which covers therapeutic areas such as immunology, neuroscience, oncology, cardiovascular health, and infectious diseases, among others.
Stock, Analysis, Earnings