Johnson & Johnson (NYSE:JNJ) Shares Up 1.5% – Time to Buy?

Johnson & Johnson (NYSE:JNJ) shares were up 1.5% during mid-day trading on Thursday . The stock traded as high as $246.35 and last traded at $244.54. Approximately 10,239,783 shares changed hands during mid-day trading, an increase of 10% from the average daily volume of 9,283,417 shares. The stock had previously closed at $240.86.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on JNJ. Royal Bank Of Canada lifted their price objective on shares of Johnson & Johnson from $240.00 to $255.00 and gave the company an “outperform” rating in a report on Tuesday, February 3rd. Argus upped their price target on Johnson & Johnson from $210.00 to $240.00 in a report on Friday, January 23rd. Loop Capital set a $220.00 price target on Johnson & Johnson in a research report on Tuesday, January 27th. Johnson Rice set a $190.00 price objective on Johnson & Johnson and gave the company a “hold” rating in a research report on Wednesday, October 22nd. Finally, Scotiabank reiterated an “outperform” rating on shares of Johnson & Johnson in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $233.73.

Johnson & Johnson Price Performance

The company has a 50-day moving average of $215.57 and a 200 day moving average of $195.51. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $589.17 billion, a PE ratio of 22.13, a PEG ratio of 2.31 and a beta of 0.35.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Saturday, January 31st. The company reported $2.46 earnings per share for the quarter. Johnson & Johnson had a return on equity of 33.34% and a net margin of 28.46%.The company had revenue of $24.28 billion for the quarter. Sell-side analysts predict that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 24th will be issued a $1.30 dividend. The ex-dividend date is Tuesday, February 24th. This represents a $5.20 dividend on an annualized basis and a yield of 2.1%. Johnson & Johnson’s dividend payout ratio is presently 47.06%.

Institutional Investors Weigh In On Johnson & Johnson

A number of large investors have recently made changes to their positions in JNJ. Vanguard Group Inc. grew its holdings in Johnson & Johnson by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 240,349,660 shares of the company’s stock valued at $49,740,362,000 after buying an additional 3,731,074 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Johnson & Johnson by 2.1% during the 2nd quarter. Geode Capital Management LLC now owns 60,609,476 shares of the company’s stock valued at $9,227,988,000 after acquiring an additional 1,225,676 shares during the last quarter. Norges Bank acquired a new stake in Johnson & Johnson during the fourth quarter worth about $6,924,523,000. Wellington Management Group LLP raised its stake in Johnson & Johnson by 3.8% during the third quarter. Wellington Management Group LLP now owns 25,832,777 shares of the company’s stock worth $4,789,914,000 after purchasing an additional 956,239 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Johnson & Johnson by 3.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 24,637,649 shares of the company’s stock valued at $4,568,313,000 after buying an additional 835,146 shares during the period. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Company Profile

Johnson & Johnson is a multinational healthcare company headquartered in New Brunswick, New Jersey, that develops, manufactures and markets a broad range of products across pharmaceuticals, medical devices and previously consumer health. Founded in 1886 by the Johnson family, the company has grown into a global healthcare organization with operations and sales in many countries around the world.

The company’s pharmaceuticals business, organized largely under its Janssen research and development organization, focuses on prescription medicines across therapeutic areas such as immunology, infectious disease, oncology and neuroscience.