Geneos Wealth Management Inc. Lowers Stake in Johnson & Johnson $JNJ

Geneos Wealth Management Inc. cut its position in shares of Johnson & Johnson (NYSE:JNJ) by 12.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 57,016 shares of the company’s stock after selling 8,037 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Johnson & Johnson were worth $8,709,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Kestra Investment Management LLC raised its holdings in Johnson & Johnson by 38.0% in the second quarter. Kestra Investment Management LLC now owns 34,658 shares of the company’s stock valued at $5,294,000 after buying an additional 9,552 shares during the period. Caxton Associates LLP purchased a new position in shares of Johnson & Johnson in the 2nd quarter valued at $714,000. Wellington Capital Management Inc. acquired a new position in shares of Johnson & Johnson during the 2nd quarter valued at $1,211,000. Rexford Capital Inc. purchased a new stake in Johnson & Johnson during the 2nd quarter worth $872,000. Finally, National Bank of Canada FI increased its holdings in Johnson & Johnson by 36.9% in the 2nd quarter. National Bank of Canada FI now owns 2,558,989 shares of the company’s stock valued at $390,837,000 after purchasing an additional 690,106 shares in the last quarter. 69.55% of the stock is owned by institutional investors and hedge funds.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $211.65 on Monday. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $212.27. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.50. The firm has a market cap of $509.93 billion, a price-to-earnings ratio of 20.43, a PEG ratio of 2.36 and a beta of 0.36. The business’s 50 day moving average is $196.09 and its two-hundred day moving average is $177.42.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Wednesday, August 30th. The company reported $2.26 earnings per share (EPS) for the quarter. Johnson & Johnson had a net margin of 27.26% and a return on equity of 32.73%. The business had revenue of $24.02 billion during the quarter. Analysts forecast that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 25th were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Tuesday, November 25th. This represents a $5.20 annualized dividend and a dividend yield of 2.5%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 50.19%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Wall Street Zen raised Johnson & Johnson from a “hold” rating to a “buy” rating in a research report on Saturday, September 13th. Scotiabank began coverage on Johnson & Johnson in a research report on Thursday, November 13th. They set a “sector outperform” rating and a $230.00 price target on the stock. Barclays increased their price objective on shares of Johnson & Johnson from $176.00 to $197.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 2nd. Bank of America boosted their target price on shares of Johnson & Johnson from $198.00 to $204.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 15th. Finally, Cowen reaffirmed a “buy” rating on shares of Johnson & Johnson in a report on Tuesday, October 14th. Four investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $207.55.

Johnson & Johnson Company Profile

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.