RedJay Asset Management Inc. Purchases New Stake in Johnson & Johnson (NYSE:JNJ)

RedJay Asset Management Inc. acquired a new position in Johnson & Johnson (NYSE:JNJ - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 10,000 shares of the company's stock, valued at approximately $1,658,000.

A number of other institutional investors have also recently bought and sold shares of the business. WealthTrak Capital Management LLC bought a new position in Johnson & Johnson during the fourth quarter valued at $26,000. Mountain Hill Investment Partners Corp. purchased a new position in shares of Johnson & Johnson during the 4th quarter valued at $29,000. Conquis Financial LLC bought a new position in shares of Johnson & Johnson during the 4th quarter worth $33,000. Bernard Wealth Management Corp. purchased a new stake in Johnson & Johnson in the 4th quarter worth about $36,000. Finally, Runnymede Capital Advisors Inc. bought a new stake in Johnson & Johnson in the 4th quarter valued at about $38,000. Institutional investors own 69.55% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on JNJ. Leerink Partnrs downgraded shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Leerink Partners lowered shares of Johnson & Johnson from an "outperform" rating to a "market perform" rating and reduced their price objective for the company from $169.00 to $153.00 in a research note on Tuesday, May 13th. Sanford C. Bernstein restated a "market perform" rating on shares of Johnson & Johnson in a research report on Wednesday, April 16th. The Goldman Sachs Group upgraded Johnson & Johnson from a "neutral" rating to a "buy" rating and lifted their price target for the company from $157.00 to $172.00 in a research report on Wednesday, April 9th. Finally, Bank of America dropped their price objective on Johnson & Johnson from $171.00 to $159.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Eleven analysts have rated the stock with a hold rating, seven have given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, Johnson & Johnson presently has a consensus rating of "Moderate Buy" and an average price target of $170.88.

Johnson & Johnson Price Performance

JNJ stock traded up $0.34 during mid-day trading on Friday, hitting $155.90. 3,482,521 shares of the stock were exchanged, compared to its average volume of 8,059,757. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.26 and a quick ratio of 1.03. The stock has a market capitalization of $375.11 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 2.36 and a beta of 0.41. The business has a fifty day moving average price of $153.68 and a 200 day moving average price of $154.09. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $169.99.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share for the quarter, topping analysts' consensus estimates of $2.59 by $0.18. Johnson & Johnson had a return on equity of 33.46% and a net margin of 24.42%. The company had revenue of $21.89 billion during the quarter, compared to the consensus estimate of $21.65 billion. On average, sell-side analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th were paid a $1.30 dividend. The ex-dividend date was Tuesday, May 27th. This is an increase from Johnson & Johnson's previous quarterly dividend of $1.24. This represents a $5.20 annualized dividend and a yield of 3.34%. Johnson & Johnson's payout ratio is currently 57.84%.

Johnson & Johnson Profile

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.