Johnson & Johnson (NYSE:JNJ) Shares Down 2.3% - Here's What Happened

Key Points

• Johnson & Johnson shares fell 2.3% mid-day to about $209.33 (intraday low $208.81) on Tuesday, with roughly 9.86 million shares traded—an 11% increase versus average daily volume.
• Analysts maintain a generally positive view with a consensus rating of “Moderate Buy” and an average price target of $208.35, backed by multiple buy/strong-buy recommendations from firms such as HSBC, BMO and Cowen.
• Key fundamentals: market cap of $504.3B, P/E of 20.2, trailing quarterly EPS of $2.26, and a quarterly dividend of $1.30 (annualized yield ~2.5%, payout ratio ~50%).

Johnson & Johnson (NYSE:JNJ - Get Free Report) was down 2.3% during mid-day trading on Tuesday . The stock traded as low as $208.81 and last traded at $209.3250. Approximately 9,861,065 shares were traded during mid-day trading, an increase of 11% from the average daily volume of 8,898,141 shares. The stock had previously closed at $214.17.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on JNJ shares. HSBC reiterated a "buy" rating and set a $240.00 price target on shares of Johnson & Johnson in a research report on Wednesday, December 10th. Cowen reaffirmed a "buy" rating on shares of Johnson & Johnson in a report on Tuesday, October 14th. BMO Capital Markets reissued an "outperform" rating on shares of Johnson & Johnson in a research note on Thursday, December 11th. Daiwa America raised Johnson & Johnson from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 20th. Finally, Wall Street Zen raised Johnson & Johnson from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. Four equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $208.35.

Johnson & Johnson Stock Performance

The company has a debt-to-equity ratio of 0.50, a current ratio of 1.07 and a quick ratio of 0.80. The company has a market cap of $504.32 billion, a price-to-earnings ratio of 20.21, a price-to-earnings-growth ratio of 2.36 and a beta of 0.36. The stock has a 50-day moving average price of $196.61 and a 200 day moving average price of $177.85.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its quarterly earnings data on Wednesday, August 30th. The company reported $2.26 EPS for the quarter. The business had revenue of $24.02 billion for the quarter. Johnson & Johnson had a net margin of 27.26% and a return on equity of 32.73%. As a group, analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 9th. Investors of record on Tuesday, November 25th were issued a dividend of $1.30 per share. The ex-dividend date was Tuesday, November 25th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.5%. Johnson & Johnson's dividend payout ratio (DPR) is presently 50.19%.

Hedge Funds Weigh In On Johnson & Johnson

A number of large investors have recently bought and sold shares of the company. Brighton Jones LLC increased its position in shares of Johnson & Johnson by 13.9% in the fourth quarter. Brighton Jones LLC now owns 51,876 shares of the company's stock valued at $7,502,000 after acquiring an additional 6,332 shares during the last quarter. United Bank grew its stake in Johnson & Johnson by 110.7% in the first quarter. United Bank now owns 9,279 shares of the company's stock valued at $1,539,000 after purchasing an additional 4,876 shares in the last quarter. Algert Global LLC increased its position in shares of Johnson & Johnson by 30.2% during the 1st quarter. Algert Global LLC now owns 32,607 shares of the company's stock worth $5,408,000 after purchasing an additional 7,561 shares during the last quarter. Versor Investments LP bought a new stake in shares of Johnson & Johnson during the 1st quarter worth approximately $444,000. Finally, Brooklyn Investment Group grew its stake in shares of Johnson & Johnson by 22.6% in the first quarter. Brooklyn Investment Group now owns 20,173 shares of the company's stock valued at $3,345,000 after buying an additional 3,716 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company's stock.

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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