Sitrin Capital Management LLC Sells 509 Shares of Johnson & Johnson (NYSE:JNJ)

Sitrin Capital Management LLC reduced its position in shares of Johnson & Johnson (NYSE:JNJ) by 1.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 33,847 shares of the company’s stock after selling 509 shares during the period. Johnson & Johnson comprises about 3.1% of Sitrin Capital Management LLC’s investment portfolio, making the stock its 17th biggest position. Sitrin Capital Management LLC’s holdings in Johnson & Johnson were worth $5,305,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. DORCHESTER WEALTH MANAGEMENT Co raised its stake in shares of Johnson & Johnson by 8.6% in the first quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 67,618 shares of the company’s stock worth $14,975,000 after acquiring an additional 5,327 shares during the last quarter. Cantor Fitzgerald Investment Advisor L.P raised its stake in shares of Johnson & Johnson by 88.9% in the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 175,194 shares of the company’s stock worth $31,049,000 after acquiring an additional 82,429 shares during the last quarter. AMI Investment Management Inc. raised its stake in shares of Johnson & Johnson by 8.8% in the first quarter. AMI Investment Management Inc. now owns 18,305 shares of the company’s stock worth $3,244,000 after acquiring an additional 1,475 shares during the last quarter. Equitable Holdings Inc. grew its position in shares of Johnson & Johnson by 4.9% during the 1st quarter. Equitable Holdings Inc. now owns 45,673 shares of the company’s stock worth $8,095,000 after buying an additional 2,119 shares during the period. Finally, USS Investment Management Ltd grew its position in shares of Johnson & Johnson by 2.4% during the 1st quarter. USS Investment Management Ltd now owns 860,371 shares of the company’s stock worth $152,488,000 after buying an additional 20,528 shares during the period. 69.55% of the stock is owned by institutional investors.

Insider Buying and Selling at Johnson & Johnson

In related news, major shareholder & Johnson Johnson sold 3,725 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $25.81, for a total transaction of $96,142.25. Following the completion of the transaction, the insider now owns 4,099,575 shares in the company, valued at $105,810,030.75. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, EVP Jennifer L. Taubert sold 59,397 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $156.27, for a total value of $9,281,969.19. Following the sale, the executive vice president now directly owns 141,416 shares of the company’s stock, valued at $22,099,078.32. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder & Johnson Johnson sold 3,725 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $25.81, for a total value of $96,142.25. Following the completion of the sale, the insider now directly owns 4,099,575 shares in the company, valued at $105,810,030.75. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $181.00 price target on shares of Johnson & Johnson in a research report on Wednesday, February 28th. Morgan Stanley decreased their price objective on shares of Johnson & Johnson from $170.00 to $169.00 and set an “equal weight” rating for the company in a report on Wednesday, January 24th. Raymond James boosted their price objective on shares of Johnson & Johnson from $172.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, January 3rd. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a report on Wednesday, March 13th. Finally, StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 6th. Seven equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Johnson & Johnson has a consensus rating of “Moderate Buy” and an average price target of $177.31.

Johnson & Johnson Stock Performance

NYSE JNJ opened at $148.78 on Friday. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.38. The firm’s fifty day moving average price is $157.42 and its two-hundred day moving average price is $156.08. Johnson & Johnson has a 1 year low of $144.95 and a 1 year high of $175.97. The firm has a market capitalization of $358.53 billion, a P/E ratio of 10.77, a price-to-earnings-growth ratio of 2.55 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Tuesday, January 23rd. The company reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.28 by $0.01. Johnson & Johnson had a net margin of 37.79% and a return on equity of 37.27%. The firm had revenue of $21.40 billion for the quarter, compared to the consensus estimate of $21.02 billion. During the same period in the prior year, the company posted $2.35 earnings per share. The business’s revenue for the quarter was down 9.7% on a year-over-year basis. As a group, research analysts anticipate that Johnson & Johnson will post 10.65 EPS for the current year.

Johnson & Johnson Company Profile

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.