Johnson & Johnson (NYSE:JNJ) Sets New 52-Week High - Here's Why

Key Points

• Johnson & Johnson's stock reached a new 52-week high, trading at $174.60, which reflects a significant increase from its previous close of $173.33.
• Analysts are mixed on the stock, with upgrades from Barclays and Morgan Stanley setting new price targets as high as $176, while others like Leerink Partners have downgraded their ratings.
• The company recently announced a quarterly dividend of $1.30 per share, contributing to an annualized yield of 3.0%, with a payout ratio of 55.61%.

Johnson & Johnson (NYSE:JNJ - Get Free Report) shares reached a new 52-week high during trading on Monday . The stock traded as high as $174.60 and last traded at $173.88, with a volume of 1285997 shares. The stock had previously closed at $173.33.

Analysts Set New Price Targets

A number of equities analysts recently commented on JNJ shares. Leerink Partners cut shares of Johnson & Johnson from an "outperform" rating to a "market perform" rating and decreased their target price for the stock from $169.00 to $153.00 in a research report on Tuesday, May 13th. Barclays upped their target price on shares of Johnson & Johnson from $165.00 to $176.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Morgan Stanley raised their target price on shares of Johnson & Johnson from $171.00 to $176.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Leerink Partnrs downgraded shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Finally, Erste Group Bank upgraded shares of Johnson & Johnson from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Nine research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $174.50.

Johnson & Johnson Trading Down 0.1%

The firm has a 50 day simple moving average of $159.26 and a 200 day simple moving average of $157.60. The firm has a market capitalization of $417.09 billion, a PE ratio of 18.52, a P/E/G ratio of 2.21 and a beta of 0.41. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its earnings results on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, topping analysts' consensus estimates of $2.68 by $0.09. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The business 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 posted $2.82 earnings per share. The company's quarterly revenue was up 5.8% compared to the same quarter last year. Equities analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th will be paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $5.20 dividend on an annualized basis and a yield of 3.0%. Johnson & Johnson's dividend payout ratio is currently 55.61%.

Institutional Investors Weigh In On Johnson & Johnson

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Brighton Jones LLC boosted its stake in shares of Johnson & Johnson by 13.9% during the fourth quarter. Brighton Jones LLC now owns 51,876 shares of the company's stock valued at $7,502,000 after purchasing an additional 6,332 shares in the last quarter. Hudson Value Partners LLC increased its position in shares of Johnson & Johnson by 2.5% during the 4th quarter. Hudson Value Partners LLC now owns 41,403 shares of the company's stock valued at $5,648,000 after purchasing an additional 1,022 shares during the last quarter. Sagespring Wealth Partners LLC purchased a new stake in Johnson & Johnson in the 4th quarter worth approximately $3,850,000. Altman Advisors Inc. increased its position in Johnson & Johnson by 2.8% during the 4th quarter. Altman Advisors Inc. now owns 9,984 shares of the company's stock valued at $1,444,000 after buying an additional 273 shares in the last quarter. Finally, Stamos Capital Partners L.P. increased its holdings in shares of Johnson & Johnson by 23.6% in the 4th quarter. Stamos Capital Partners L.P. now owns 55,480 shares of the company's stock worth $8,024,000 after purchasing an additional 10,580 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company's stock.

About Johnson & Johnson

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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