Polar Asset Management Partners Inc. Makes New $39.05 Million Investment in Johnson & Johnson (NYSE:JNJ)
Polar Asset Management Partners Inc. has made a new investment of approximately $39.05 million in Johnson & Johnson (NYSE: JNJ) by acquiring 270,000 shares during the 4th quarter. This investment comes as several other hedge funds also increased their stakes in the company. Johnson & Johnson's stock has received mixed ratings from analysts, with a consensus target price of $170.88. The company recently reported strong quarterly earnings, exceeding analysts' expectations, and announced a quarterly dividend of $1.30 per share.
Polar Asset Management Partners Inc. bought a new position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 270,000 shares of the company's stock, valued at approximately $39,047,000.
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Several other hedge funds have also recently modified their holdings of JNJ. WealthTrak Capital Management LLC bought a new position in shares of Johnson & Johnson during the 4th quarter worth approximately $26,000. Mountain Hill Investment Partners Corp. bought a new position in shares of Johnson & Johnson during the 4th quarter worth approximately $29,000. Bay Harbor Wealth Management LLC bought a new position in shares of Johnson & Johnson during the 4th quarter worth approximately $32,000. Conquis Financial LLC bought a new position in shares of Johnson & Johnson during the 4th quarter worth approximately $33,000. Finally, Bernard Wealth Management Corp. purchased a new stake in shares of Johnson & Johnson during the 4th quarter worth approximately $36,000. Institutional investors own 69.55% of the company's stock.
Insider Transactions at Johnson & Johnson
In other news, VP Robert J. Decker sold 6,999 shares of Johnson & Johnson stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $165.88, for a total transaction of $1,160,994.12. Following the completion of the sale, the vice president now directly owns 21,001 shares of the company's stock, valued at approximately $3,483,645.88. The trade was a 25.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.16% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
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Several equities research analysts have recently issued reports on the stock. Leerink Partnrs lowered shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Bank of America decreased their price target on shares of Johnson & Johnson from $171.00 to $159.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Royal Bank of Canada restated an "outperform" rating and set a $181.00 price target on shares of Johnson & Johnson in a research note on Wednesday, April 16th. The Goldman Sachs Group upgraded shares of Johnson & Johnson from a "neutral" rating to a "buy" rating and raised their price target for the stock from $157.00 to $172.00 in a research note on Wednesday, April 9th. Finally, Guggenheim restated a "neutral" rating on shares of Johnson & Johnson in a research note on Wednesday, April 2nd. Eleven analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $170.88.
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Johnson & Johnson Stock Up 0.3%
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Shares of NYSE:JNJ opened at $153.12 on Friday. The firm has a fifty day moving average price of $155.24 and a two-hundred day moving average price of $153.69. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.11 and a quick ratio of 0.86. Johnson & Johnson has a one year low of $140.68 and a one year high of $169.99. The company has a market cap of $368.41 billion, a price-to-earnings ratio of 23.02, a PEG ratio of 2.56 and a beta of 0.42.
Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its quarterly earnings data on Tuesday, April 15th. The company reported $2.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.59 by $0.18. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. The company had revenue of $21.89 billion during the quarter, compared to the consensus estimate of $21.65 billion. Analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current fiscal year.
Johnson & Johnson Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 27th will be issued a dividend of $1.30 per share. This is an increase from Johnson & Johnson's previous quarterly dividend of $1.24. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date of this dividend is Tuesday, May 27th. Johnson & Johnson's payout ratio is currently 57.84%.
Johnson & Johnson Profile
(Free Report)Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.
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