Johnson & Johnson (NYSE:JNJ) Shares Up 0.3% - What's Next?

On Thursday, Johnson & Johnson (NYSE:JNJ - Get Free Report) saw its stock price rise by 0.3%. The shares reached a high of $147.77 before settling at $147.03 by the end of the trading day. During midday trading, a total of 1,681,589 shares changed hands, which is a significant decrease of 76% from the average trading volume of 7,099,400 shares. The stock had previously closed at $146.64.

Analysts Set New Price Targets

Recent analyst reports have focused on Johnson & Johnson with various ratings and price targets. Wolfe Research recently began coverage, giving the stock an "outperform" rating and setting a target price of $190.00. In a separate report, Cantor Fitzgerald reaffirmed an "overweight" rating with a target price of $215.00. Additionally, Guggenheim increased its price target from $156.00 to $162.00, while Wells Fargo raised its target from $163.00 to $166.00. Morgan Stanley also raised its price target from $169.00 to $175.00. Overall, there are seven analysts who rate the stock as a hold, while seven suggest buying it, and one has assigned a strong buy rating. According to MarketBeat.com, the average rating for Johnson & Johnson is "Moderate Buy," with a consensus price target of $174.73.

Financial Health of Johnson & Johnson

The company's financials show a quick ratio of 0.79 and a current ratio of 1.03. It has a debt-to-equity ratio of 0.45. As of now, the 50-day moving average price stands at $157.29 while the 200-day moving average is at $156.35. Johnson & Johnson has a market capitalization of approximately $351.92 billion, a PE ratio of 21.28, and a price-to-earnings-growth ratio of 2.66, with a beta of 0.51.

Recent Earnings Report

Johnson & Johnson last reported its earnings on October 15th, revealing an earnings per share (EPS) of $2.42, which exceeded the analysts' consensus estimate of $2.21 by $0.21. The company generated revenue of $22.47 billion, surpassing expectations of $22.17 billion. The revenue was up 5.2% year-over-year, though it experienced a decline from $2.66 EPS the previous year. Analysts predict that the company will achieve an EPS of 9.93 for the current year.

Dividend Announcements

In addition to recent stock movement, Johnson & Johnson declared a quarterly dividend of $1.24 per share, which was paid on December 10th. Shareholders of record as of November 26th received this dividend, and the ex-dividend date was also November 26th. This amount equates to an annualized dividend of $4.96, offering a yield of 3.39%. The company's dividend payout ratio stands at 71.78%.

Institutional Ownership Changes

There have been several adjustments among institutional investors regarding their positions in Johnson & Johnson. Vinva Investment Management Ltd increased its stake by 6.8% in the third quarter and now holds 111,448 shares valued at $17,988,000. Financial Counselors Inc. raised its holdings by 5.3%, now owning 185,093 shares worth $29,996,000. There has also been activity from Meridian Financial Partners LLC and Meridian Investment Counsel Inc., with incremental increases in their shares over recent months. Overall, institutional investors and hedge funds own about 69.55% of the company's stock.

Overview of Johnson & Johnson

Johnson & Johnson, along with its subsidiaries, is engaged in the research, development, manufacturing, and sale of various healthcare products globally. Its Innovative Medicine segment offers therapies for numerous medical conditions, including those in areas like immunology, infectious diseases, neuroscience, oncology, and more.

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