Johnson & Johnson (NYSE:JNJ) Sees Significant Growth in Short Interest

Johnson & Johnson (NYSE:JNJGet Free Report) saw a large increase in short interest in May. As of May 31st, there was short interest totalling 19,930,000 shares, an increase of 14.3% from the May 15th total of 17,430,000 shares. Based on an average trading volume of 7,620,000 shares, the short-interest ratio is presently 2.6 days. Currently, 0.8% of the company’s stock are sold short.

Johnson & Johnson Price Performance

Shares of NYSE JNJ traded down $0.40 during midday trading on Tuesday, reaching $145.55. The company’s stock had a trading volume of 684,751 shares, compared to its average volume of 7,311,045. The company has a current ratio of 1.17, a quick ratio of 0.94 and a debt-to-equity ratio of 0.36. The company has a 50 day moving average price of $148.27 and a 200 day moving average price of $154.65. Johnson & Johnson has a one year low of $143.13 and a one year high of $175.97. The company has a market cap of $350.29 billion, a price-to-earnings ratio of 9.10, a price-to-earnings-growth ratio of 2.42 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJGet Free Report) last released its earnings results on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $0.07. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. The business had revenue of $21.38 billion for the quarter, compared to the consensus estimate of $21.39 billion. During the same period in the previous year, the firm earned $2.68 EPS. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities research analysts expect that Johnson & Johnson will post 10.63 EPS for the current year.

Johnson & Johnson Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st were issued a dividend of $1.24 per share. The ex-dividend date of this dividend was Monday, May 20th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.41%. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s payout ratio is currently 30.92%.

Institutional Investors Weigh In On Johnson & Johnson

A number of large investors have recently made changes to their positions in JNJ. Norges Bank purchased a new position in Johnson & Johnson during the fourth quarter valued at approximately $4,071,642,000. Wellington Management Group LLP grew its position in Johnson & Johnson by 16.4% during the fourth quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock valued at $3,764,852,000 after purchasing an additional 3,391,657 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Johnson & Johnson by 16.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock valued at $3,453,978,000 after purchasing an additional 3,139,499 shares in the last quarter. Swedbank AB purchased a new position in Johnson & Johnson during the first quarter valued at approximately $331,178,000. Finally, International Assets Investment Management LLC grew its position in Johnson & Johnson by 7,875.8% during the fourth quarter. International Assets Investment Management LLC now owns 2,090,384 shares of the company’s stock valued at $327,647,000 after purchasing an additional 2,064,175 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Analysts Set New Price Targets

JNJ has been the subject of several research reports. HSBC raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and lifted their price target for the company from $169.00 to $170.00 in a report on Thursday, April 18th. Morgan Stanley reduced their target price on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 17th. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 target price on shares of Johnson & Johnson in a research note on Monday. StockNews.com lowered shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 10th. Finally, Bank of America reduced their target price on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $174.07.

Read Our Latest Research Report on JNJ

About Johnson & Johnson

(Get Free Report)

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.

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