Versant Capital Management Inc Raises Stake in Johnson & Johnson $JNJ

Key Points

• Versant Capital Management Inc increased its stake in Johnson & Johnson by 25.9%, now owning 10,603 shares valued at approximately $1.62 million.
• Several research firms have raised their target prices for Johnson & Johnson, with Royal Bank Of Canada setting it at $185.00 and others following suit, reflecting increased analyst confidence in the stock.
• Johnson & Johnson reported strong quarterly earnings with $2.77 EPS, exceeding expectations, alongside a recently announced dividend of $1.30 per share.

Versant Capital Management Inc boosted its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 25.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,603 shares of the company's stock after acquiring an additional 2,178 shares during the quarter. Versant Capital Management Inc's holdings in Johnson & Johnson were worth $1,620,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Highline Wealth Partners LLC boosted its holdings in Johnson & Johnson by 51.8% in the 1st quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock worth $42,000 after acquiring an additional 86 shares during the period. Stone House Investment Management LLC purchased a new position in Johnson & Johnson in the 1st quarter worth approximately $47,000. 1248 Management LLC purchased a new position in Johnson & Johnson in the 1st quarter worth approximately $48,000. von Borstel & Associates Inc. purchased a new position in Johnson & Johnson in the 1st quarter worth approximately $49,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of Johnson & Johnson during the 1st quarter valued at approximately $52,000. Hedge funds and other institutional investors own 69.55% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on JNJ. Royal Bank Of Canada increased their target price on Johnson & Johnson from $181.00 to $185.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. Bank of America upped their price target on Johnson & Johnson from $161.00 to $175.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Wall Street Zen raised Johnson & Johnson from a "hold" rating to a "buy" rating in a research report on Saturday. Morgan Stanley upped their price target on Johnson & Johnson from $171.00 to $176.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Finally, Erste Group Bank raised Johnson & Johnson from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $176.29.

Johnson & Johnson Price Performance

Shares of NYSE JNJ opened at $178.10 on Friday. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $181.16. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76. The business's fifty day moving average price is $170.81 and its two-hundred day moving average price is $161.29. The firm has a market capitalization of $428.93 billion, a PE ratio of 19.05, a P/E/G ratio of 2.27 and a beta of 0.40.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.09. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%.The firm had revenue of $23.74 billion for the quarter, compared to analyst estimates of $22.85 billion. During the same period last year, the company earned $2.82 earnings per share. The firm's revenue for the quarter was up 5.8% on a year-over-year basis. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. On average, research analysts expect that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Tuesday, August 26th. Johnson & Johnson's dividend payout ratio (DPR) is 55.61%.

Insider Activity at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the firm's stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $177.81, for a total transaction of $10,041,108.51. Following the transaction, the executive vice president directly owned 178,013 shares of the company's stock, valued at approximately $31,652,491.53. This trade represents a 24.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.16% of the company's stock.

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.

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