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Johnson & Johnson (NYSE:JNJ – Get Rating) was the recipient of a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 14,140,000 shares, an increase of 16.0% from the August 31st total of 12,190,000 shares. Based on an average daily trading volume, of 6,910,000 shares, the short-interest ratio is currently 2.0 days. Currently, 0.5% of the company’s stock are short sold.
Analysts Set New Price Targets
Several equities analysts have recently commented on the company. SVB Leerink cut their price target on Johnson & Johnson from $200.00 to $194.00 in a research note on Wednesday, July 20th. Citigroup cut their target price on Johnson & Johnson from $205.00 to $201.00 in a research note on Wednesday, July 20th. UBS Group lowered their price target on Johnson & Johnson from $185.00 to $180.00 in a report on Thursday, July 21st. Wells Fargo & Company raised their price target on Johnson & Johnson from $190.00 to $195.00 and gave the stock an “overweight” rating in a report on Wednesday, July 13th. Finally, Daiwa Capital Markets assumed coverage on Johnson & Johnson in a report on Wednesday, June 22nd. They issued an “outperform” rating for the company. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $189.78.
Johnson & Johnson Stock Performance
NYSE: JNJ traded down $1.17 during trading hours on Friday, reaching $163.36. The company had a trading volume of 8,985,190 shares, compared to its average volume of 7,589,763. The firm has a market cap of $429.50 billion, a PE ratio of 23.78, a price-to-earnings-growth ratio of 3.11 and a beta of 0.61. Johnson & Johnson has a 1-year low of $155.72 and a 1-year high of $186.69. The business’s 50 day moving average price is $167.13 and its 200-day moving average price is $173.89. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.42 and a quick ratio of 1.17.
Johnson & Johnson (NYSE:JNJ – Get Rating) last posted its quarterly earnings data on Tuesday, July 19th. The company reported $2.59 EPS for the quarter, beating analysts’ consensus estimates of $2.57 by $0.02. Johnson & Johnson had a return on equity of 36.14% and a net margin of 19.21%. The business had revenue of $24.02 billion during the quarter, compared to analysts’ expectations of $23.85 billion. During the same period in the previous year, the business earned $2.48 earnings per share. The business’s revenue was up 3.0% compared to the same quarter last year. Research analysts forecast that Johnson & Johnson will post 10.1 EPS for the current year.
Johnson & Johnson Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Tuesday, August 23rd were given a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a dividend yield of 2.77%. The The ex-dividend date of this dividend was Monday, August 22nd. Johnson & Johnson’s payout ratio is 65.79%.
Johnson & Johnson announced that its Board of Directors has approved a stock buyback program on Wednesday, September 14th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to purchase up to 1.2% of its stock through open market purchases . Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.
Institutional Trading of Johnson & Johnson
Several large investors have recently added to or reduced their stakes in JNJ. Magnolia Capital Management Ltd. raised its holdings in Johnson & Johnson by 0.5% in the first quarter. Magnolia Capital Management Ltd. now owns 11,162 shares of the company’s stock worth $1,978,000 after purchasing an additional 55 shares in the last quarter. Howard Financial Services LTD. increased its holdings in shares of Johnson & Johnson by 2.1% during the first quarter. Howard Financial Services LTD. now owns 2,757 shares of the company’s stock valued at $489,000 after acquiring an additional 57 shares in the last quarter. American Financial Advisors LLC increased its holdings in shares of Johnson & Johnson by 2.1% during the first quarter. American Financial Advisors LLC now owns 2,715 shares of the company’s stock valued at $481,000 after acquiring an additional 57 shares in the last quarter. Taylor & Morgan Wealth Management LLC increased its holdings in shares of Johnson & Johnson by 1.6% during the second quarter. Taylor & Morgan Wealth Management LLC now owns 3,580 shares of the company’s stock valued at $635,000 after acquiring an additional 57 shares in the last quarter. Finally, Kwmg LLC increased its holdings in shares of Johnson & Johnson by 2.6% during the first quarter. Kwmg LLC now owns 2,354 shares of the company’s stock valued at $417,000 after acquiring an additional 59 shares in the last quarter. 68.59% of the stock is currently owned by hedge funds and other institutional investors.
Johnson & Johnson Company Profile
(Get Rating)
Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the healthcare field worldwide. The company’s Consumer Health segment offers baby care products under the JOHNSON’S and AVEENO Baby brands; oral care products under the LISTERINE brand; skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR.
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