Traders Buy Johnson & Johnson (JNJ) on Weakness
Investors purchased shares of Johnson & Johnson (NYSE:JNJ) on weakness during trading hours on Thursday. $513.55 million flowed into the stock on the tick-up and $285.40 million flowed out of the stock on the tick-down, for a money net flow of $228.15 million into the stock. Of all companies tracked, Johnson & Johnson had the highest net in-flow for the day. Johnson & Johnson traded down ($3.89) for the day and closed at $133.84
A number of analysts recently commented on the stock. Wells Fargo & Co restated an “outperform” rating and set a $160.00 price target on shares of Johnson & Johnson in a research note on Friday, September 14th. Jefferies Financial Group set a $145.00 price target on shares of Johnson & Johnson and gave the company a “buy” rating in a research note on Sunday, July 15th. ValuEngine upgraded shares of Johnson & Johnson from a “sell” rating to a “hold” rating in a research note on Saturday, July 28th. Credit Suisse Group set a $151.00 price target on shares of Johnson & Johnson and gave the company a “buy” rating in a research note on Friday, July 13th. Finally, Sanford C. Bernstein assumed coverage on shares of Johnson & Johnson in a research note on Wednesday, June 27th. They set a “market perform” rating and a $129.00 price target on the stock. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $143.91.
The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.33 and a current ratio of 1.65. The firm has a market capitalization of $370.70 billion, a price-to-earnings ratio of 18.34, a P/E/G ratio of 2.19 and a beta of 0.70.
In other news, CAO Ronald A. Kapusta sold 7,899 shares of the stock in a transaction on Friday, September 7th. The shares were sold at an average price of $137.18, for a total value of $1,083,584.82. Following the transaction, the chief accounting officer now owns 25,725 shares of the company’s stock, valued at approximately $3,528,955.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Michael E. Sneed sold 29,000 shares of the stock in a transaction on Monday, August 27th. The stock was sold at an average price of $134.80, for a total transaction of $3,909,200.00. Following the completion of the transaction, the chief operating officer now directly owns 59,124 shares in the company, valued at approximately $7,969,915.20. The disclosure for this sale can be found here. 0.22% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the company. Financial Gravity Wealth Inc. purchased a new stake in shares of Johnson & Johnson in the 1st quarter worth about $105,000. Selective Wealth Management purchased a new stake in shares of Johnson & Johnson in the 3rd quarter worth about $105,000. CSat Investment Advisory L.P. purchased a new stake in shares of Johnson & Johnson in the 2nd quarter worth about $107,000. WP Advisors LLC purchased a new stake in shares of Johnson & Johnson in the 2nd quarter worth about $108,000. Finally, FNY Investment Advisers LLC purchased a new stake in shares of Johnson & Johnson in the 2nd quarter worth about $117,000. 66.67% of the stock is currently owned by hedge funds and other institutional investors.
About Johnson & Johnson (NYSE:JNJ)
Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the health care field worldwide. Its Consumer segment offers baby care products under the JOHNSON'S brand; oral care products under the LISTERINE brand; beauty products under the AVEENO, CLEAN & CLEAR, DABAO, JOHNSON'S Adult, LE PETITE MARSEILLAIS, NEUTROGENA, RoC, and OGX brands; over-the-counter medicines, including acetaminophen products under the TYLENOL brand; cold, flu, and allergy products under the SUDAFED brand; allergy products under the BENADRYL and ZYRTEC brands; ibuprofen products under the MOTRIN IB brand; and acid reflux products under the PEPCID brand.
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