Midwest Trust Co Lowers Position in Johnson & Johnson $JNJ

Key Points

• Midwest Trust Co cut its Johnson & Johnson stake by 9.7% in the first quarter, selling 18,013 shares and leaving it with 166,891 shares worth about $40.8 million.
• Johnson & Johnson continues to draw bullish analyst attention, with RBC raising its price target to $287 and keeping an outperform rating; HSBC also set a $290 target, while the consensus target stands at $261.26.
• The company recently posted better-than-expected quarterly results, reporting EPS of $2.70 versus estimates of $2.68 and revenue of $24.06 billion versus $23.60 billion, while shares have climbed near their 52-week high.

Midwest Trust Co reduced its position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 9.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 166,891 shares of the company's stock after selling 18,013 shares during the period. Midwest Trust Co's holdings in Johnson & Johnson were worth $40,795,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Johnson & Johnson by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 240,349,660 shares of the company's stock valued at $49,740,362,000 after buying an additional 3,731,074 shares in the last quarter. State Street Corp raised its position in Johnson & Johnson by 1.3% in the fourth quarter. State Street Corp now owns 133,869,843 shares of the company's stock worth $27,704,364,000 after acquiring an additional 1,663,782 shares in the last quarter. Auto Owners Insurance Co lifted its holdings in Johnson & Johnson by 22,225.6% in the fourth quarter. Auto Owners Insurance Co now owns 69,419,308 shares of the company's stock valued at $1,436,633,000 after acquiring an additional 69,108,368 shares during the period. Geode Capital Management LLC lifted its holdings in Johnson & Johnson by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 57,953,747 shares of the company's stock valued at $11,967,947,000 after acquiring an additional 1,738,292 shares during the period. Finally, Norges Bank purchased a new stake in shares of Johnson & Johnson during the 4th quarter worth $6,924,523,000. Institutional investors and hedge funds own 69.55% of the company's stock.

Key Johnson & Johnson News

Here are the key news stories impacting Johnson & Johnson this week:

• Positive Sentiment: Royal Bank of Canada raised its price target on Johnson & Johnson (JNJ) to $287 from $265 and kept an outperform rating, implying additional upside as investors look ahead to earnings. Benzinga
• Positive Sentiment: Several market watchers highlighted JNJ as a potential buy before earnings, pointing to its strong year-to-date move, recent all-time highs, and the appeal of its dividend as capital rotates into healthcare names. The Real Case for Buying Johnson & Johnson (JNJ) Before July 15
• Positive Sentiment: Analysts and stock commentary remain focused on JNJ’s upcoming quarterly results, with expectations centered on continued operational strength despite patent and competitive headwinds. Zacks: Is JNJ Stock a Buy, Sell or Hold Ahead of Q2 Earnings Release?
• Neutral Sentiment: Broader market weakness weighed on Wall Street Monday, which could limit gains even for defensive names like JNJ. NASDAQ Snaps 3-Day Winning Streak as Oil Jumps Amid US-Iran Tensions
• Neutral Sentiment: Pre-earnings previews from Zacks, TipRanks, and Barron’s kept Johnson & Johnson in focus, but these pieces were mainly commentary ahead of the report rather than new company-specific catalysts. Zacks: Is Johnson & Johnson Stock Poised for New Highs as Q2 Results Approach?

Johnson & Johnson Price Performance

Shares of NYSE:JNJ opened at $257.82 on Tuesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.03. The business's fifty day moving average price is $237.62 and its two-hundred day moving average price is $233.60. The stock has a market cap of $620.64 billion, a PE ratio of 29.81, a price-to-earnings-growth ratio of 2.51 and a beta of 0.24. Johnson & Johnson has a one year low of $154.80 and a one year high of $269.43.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its quarterly earnings results on Tuesday, April 14th. The company reported $2.70 earnings per share for the quarter, topping analysts' consensus estimates of $2.68 by $0.02. The company had revenue of $24.06 billion during the quarter, compared to analysts' expectations of $23.60 billion. Johnson & Johnson had a return on equity of 32.60% and a net margin of 21.83%.The business's revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.77 earnings per share. On average, analysts forecast that Johnson & Johnson will post 11.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. HSBC set a $290.00 price target on shares of Johnson & Johnson and gave the company a "buy" rating in a report on Monday, July 6th. Bank of America boosted their price objective on shares of Johnson & Johnson from $254.00 to $263.00 and gave the stock a "neutral" rating in a report on Friday. Weiss Ratings lowered shares of Johnson & Johnson from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday, June 15th. Sanford C. Bernstein lifted their price target on shares of Johnson & Johnson from $225.00 to $251.00 and gave the company a "market perform" rating in a research report on Wednesday, April 15th. Finally, Argus boosted their price target on Johnson & Johnson from $240.00 to $275.00 and gave the stock a "buy" rating in a research note on Thursday, April 16th. Twenty research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $261.26.

Insider Buying and Selling

In related news, EVP Kathryn E. Wengel sold 10,000 shares of the business's stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $241.15, for a total value of $2,411,500.00. Following the completion of the transaction, the executive vice president owned 114,288 shares of the company's stock, valued at approximately $27,560,551.20. The trade was a 8.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.16% of the company's stock.

Johnson & Johnson Company Profile

Johnson & Johnson is a multinational healthcare company headquartered in New Brunswick, New Jersey, that develops, manufactures and markets a broad range of products across pharmaceuticals, medical devices and previously consumer health. Founded in 1886 by the Johnson family, the company has grown into a global healthcare organization with operations and sales in many countries around the world.

The company's pharmaceuticals business, organized largely under its Janssen research and development organization, focuses on prescription medicines across therapeutic areas such as immunology, infectious disease, oncology and neuroscience.

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