Means Investment CO. Inc. Grows Stock Position in Johnson & Johnson (NYSE:JNJ)

Posted by Defense World Staff on Apr 15th, 2023

Means Investment CO. Inc. increased its holdings in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 1.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 32,035 shares of the company’s stock after buying an additional 577 shares during the quarter. Johnson & Johnson comprises approximately 1.1% of Means Investment CO. Inc.’s portfolio, making the stock its 18th biggest holding. Means Investment CO. Inc.’s holdings in Johnson & Johnson were worth $5,659,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Glassy Mountain Advisors Inc. purchased a new position in shares of Johnson & Johnson in the 4th quarter worth about $35,000. Retirement Financial Solutions LLC purchased a new position in shares of Johnson & Johnson in the 4th quarter worth about $40,000. TD Capital Management LLC purchased a new position in shares of Johnson & Johnson in the 3rd quarter worth about $48,000. Iron Horse Wealth Management LLC raised its holdings in shares of Johnson & Johnson by 112.8% in the 4th quarter. Iron Horse Wealth Management LLC now owns 300 shares of the company’s stock worth $53,000 after purchasing an additional 159 shares during the period. Finally, Cowa LLC purchased a new position in shares of Johnson & Johnson in the 3rd quarter worth about $58,000. 67.94% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Price Performance

Shares of NYSE JNJ opened at $165.84 on Friday. Johnson & Johnson has a fifty-two week low of $150.11 and a fifty-two week high of $186.69. The business has a 50 day moving average price of $157.46 and a two-hundred day moving average price of $167.01. The company has a quick ratio of 0.77, a current ratio of 0.99 and a debt-to-equity ratio of 0.35. The firm has a market cap of $431.90 billion, a PE ratio of 24.61, a price-to-earnings-growth ratio of 2.83 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ – Get Rating) last issued its quarterly earnings data on Tuesday, January 24th. The company reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.22 by $0.13. Johnson & Johnson had a return on equity of 35.76% and a net margin of 18.90%. The firm had revenue of $23.71 billion during the quarter, compared to analyst estimates of $23.90 billion. During the same quarter last year, the firm earned $2.13 EPS. Johnson & Johnson’s quarterly revenue was down 4.4% on a year-over-year basis. Sell-side analysts expect that Johnson & Johnson will post 10.49 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Johnson & Johnson news, insider James D. Swanson sold 1,062 shares of the stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $154.66, for a total transaction of $164,248.92. Following the transaction, the insider now owns 9,215 shares of the company’s stock, valued at approximately $1,425,191.90. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Guggenheim assumed coverage on Johnson & Johnson in a report on Tuesday, February 28th. They issued a “neutral” rating and a $161.00 price objective on the stock. UBS Group assumed coverage on Johnson & Johnson in a research note on Tuesday, March 28th. They issued a “neutral” rating and a $164.00 target price for the company. SVB Leerink lowered their target price on Johnson & Johnson from $194.00 to $186.00 and set an “outperform” rating for the company in a research note on Friday, January 20th. Atlantic Securities increased their target price on Johnson & Johnson from $160.00 to $168.00 and gave the company a “neutral” rating in a research note on Wednesday, January 25th. Finally, StockNews.com assumed coverage on Johnson & Johnson in a research note on Thursday, March 16th. They issued a “strong-buy” rating for the company. Seven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $173.07.

Johnson & Johnson Company Profile

(Get Rating)

Johnson & Johnson is a holding company, which engages in the research and development, manufacture and sale of products in the health care field. It operates through the following segments: Consumer Health, Pharmaceutical, and MedTech. The Consumer Health segment includes products focused on personal healthcare used in the Skin Health/Beauty, Over-the-Counter medicines, Baby Care, Oral Care, Women’s Health and Wound Care markets.