There Is Clear Momentum For Johnson & Johnson (NYSE: JNJ)


SSgA Funds Management, Inc. has recently announced that it has increased stake in Johnson & Johnson (NYSE:JNJ) by 0.67%. After grabbing 152.57 million shares, the institutional investor is now in possession of 1.02 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 5.80% having worth around $22.24 billion. Moreover, BlackRock Fund Advisors increased its share by 1.11 million to have a control over 129.83 million shares. And Geode Capital Management LLC raised its holdings to 0.61 million shares by acquiring 39.57 million shares or 1.50% of the stake.

Johnson & Johnson (JNJ) concluded trading on 08/26/20 at a closing price of $152.30, with 7.98 million shares of worth about $1.22 billion changed hands on the day. Weekly performance of the stock remained positive as price took a surge of 1.27% during that period and on Wednesday the price saw a gain of about 0.16%. Currently the company’s common shares owned by public are about 2.63B shares, out of which, 2.63B shares are available for trading.

Analysts also issued an outlook of 1.90 for the Johnson & Johnson stock for next 12 months.

According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 64 times over the past 12 months. They bought 536,200 shares in 32 of the transactions. In 32 selling transactions, insiders dumped 325,871 shares.

Vanguard Total Stock Market Index, Vanguard 500 Index Fund, and SPDR S&P 500 ETF are the top 3 mutual funds which are holding stakes in Johnson & Johnson Vanguard Total Stock Market Index is currently holding 74.89 million shares of worth totaling $10.92 billion. The company recently came selling -0.21 million shares which brought its stake up to 2.84% of the company’s outstanding shares. Vanguard 500 Index Fund sold -0.33 million shares, after which its hold over company’s outstanding shares shrunk to 2.06%, leaving 54.33 million shares with the mutual fund that have a worth of about $7.92 billion. SPDR S&P 500 ETF, after buying 28.26 million shares, have now control over 1.07% of the stake in the company. It holds 57132.0 shares of worth $4.12 billion.

Johnson & Johnson (NYSE: JNJ) started trading at $151.86, below -$0.2 from concluding price of the previous day. However, the stock finished the trading on the day at a closing price of $152.30, or with a gain of 0.16%. Stock saw a price change of 1.27% in past 5 days and over the past one month there was a price change of 3.73%. Year-to-date (YTD), JNJ shares are showing a performance of 4.41% which increased to 17.48% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $109.16 but also hit the highest price of $157.00 during that period. While comparing its average daily trading volume of 6.56 million shares, we see that about 7.98 million changed hands on the day. The stock is currently trading 2.32% above its 20-day simple moving average (SMA20), while that difference is up 4.14% for SMA50 and it goes to 5.96% higher than SMA200.

SSgA Funds Management, Inc. acquired 152.57 million shares of Johnson & Johnson having value of about $22.24 billion. Data submitted at the U.S SEC by SSgA Funds Management, Inc. revealed that the firm now holds 1.02 million shares in the company valued at close to $155769089.4, or have control over 0.67% stake in the company. Johnson & Johnson (NYSE: JNJ) currently have 2.63B outstanding shares and institutions hold larger chunk of about 70.20% of that. Holding of mutual funds in the company is about 34.59% while other institutional holders and individual stake holders have control over 35.39% and 0.19% of the stake respectively.

The stock has a current market capitalization of $397.46B and its 3Y-monthly beta is at 0.68. PE ratio of stock for trailing 12 months is 27.32, while it has posted earnings per share of $5.58 in the same period. Its PEG reads 5.37 and has Quick Ratio of 1.00 while making debt-to-equity ratio of 0.48. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for JNJ, volatility over the week remained 1.49% while standing at 1.36% over the month.

Analysts are in expectations that Johnson & Johnson (JNJ) stock would likely to be making an EPS of $1.96 in the current quarter, while forecast for next quarter ESPS is $1.93 and it is $9.04 for next year. For the current quarter EPS, analysts have given the company a lowest target $1.79 which is $2.1 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $2.12 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 0.50% while it is estimated to increase by 14.91% in next year. EPS is likely to grow at an annualized rate of 5.08% for next 5-years, compared to annual growth of -0.20% made by the stock over the past 5-years.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by UBS on April 28, 2020 offering a Neutral rating for the stock and assigned a target price range of between $163 and $160 to it. Coverage by BofA/Merrill stated Johnson & Johnson (JNJ) stock as a Buy in their note to investors on April 22, 2020, suggesting a price target of $175 for the stock. On March 05, 2020, Citigroup Initiated their recommendations, while on December 19, 2019, Barclays Upgrade their ratings for the stock with a price target of $173. Stock get an Overweight rating from Morgan Stanley on December 17, 2019.


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