Johnson & Johnson (NYSE:JNJ) Reaches New 12-Month High on Analyst Upgrade

Key Points

• Johnson & Johnson's stock reached a new 12-month high of $194.48 following an upgrade from Daiwa Capital Markets, which rated the stock as "outperform" with a price target of $203.00.
• Multiple analysts, including Raymond James and Royal Bank of Canada, have raised their price targets for Johnson & Johnson, indicating strong market confidence with a consensus rating of "Moderate Buy."
• The company announced a quarterly dividend of $1.30 to be paid on December 9th, representing a 2.7% dividend yield and a payout ratio of 50.19%.

Johnson & Johnson (NYSE:JNJ - Get Free Report) shares reached a new 52-week high on Monday after Daiwa Capital Markets upgraded the stock from a neutral rating to an outperform rating. Daiwa Capital Markets now has a $203.00 price target on the stock. Johnson & Johnson traded as high as $194.48 and last traded at $194.03, with a volume of 3257365 shares traded. The stock had previously closed at $193.22.

Several other equities analysts have also recently weighed in on the stock. Raymond James Financial raised their target price on shares of Johnson & Johnson from $174.00 to $209.00 and gave the company an "outperform" rating in a research note on Wednesday, October 15th. Piper Sandler reaffirmed an "overweight" rating on shares of Johnson & Johnson in a research note on Thursday, July 17th. Stifel Nicolaus raised their target price on shares of Johnson & Johnson from $165.00 to $190.00 and gave the company a "hold" rating in a research note on Wednesday, October 15th. Royal Bank Of Canada reissued an "outperform" rating and issued a $209.00 price objective on shares of Johnson & Johnson in a research note on Friday, October 10th. Finally, Wall Street Zen raised shares of Johnson & Johnson from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $200.06.

Insider Activity at Johnson & Johnson

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

Hedge Funds Weigh In On Johnson & Johnson

A number of large investors have recently made changes to their positions in the company. Evolution Wealth Management Inc. bought a new stake in Johnson & Johnson during the 2nd quarter valued at about $27,000. Clayton Financial Group LLC bought a new stake in Johnson & Johnson during the 3rd quarter valued at about $28,000. Semmax Financial Advisors Inc. lifted its holdings in Johnson & Johnson by 55.0% during the 2nd quarter. Semmax Financial Advisors Inc. now owns 203 shares of the company's stock valued at $31,000 after buying an additional 72 shares in the last quarter. GFG Capital LLC bought a new stake in Johnson & Johnson during the 2nd quarter valued at about $35,000. Finally, Stone House Investment Management LLC bought a new stake in Johnson & Johnson during the 1st quarter valued at about $47,000. 69.55% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Performance

The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.01. The firm has a market cap of $466.85 billion, a P/E ratio of 18.73, a price-to-earnings-growth ratio of 2.27 and a beta of 0.40. The firm's fifty day moving average price is $180.49 and its 200 day moving average price is $164.90.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its quarterly earnings results on Wednesday, August 30th. The company reported $2.26 EPS for the quarter. Johnson & Johnson had a net margin of 27.26% and a return on equity of 33.08%. The business had revenue of $24.02 billion during the quarter. Sell-side analysts expect that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 25th will be given a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, November 25th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.7%. Johnson & Johnson's payout ratio is presently 50.19%.

Johnson & Johnson Company 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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