Suvretta Capital Management LLC Has $22.44 Million Stake in Johnson & Johnson (NYSE:JNJ)

Suvretta Capital Management LLC boosted its holdings in Johnson & Johnson (NYSE:JNJ) by 53.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 138,447 shares of the company’s stock after acquiring an additional 48,350 shares during the quarter. Suvretta Capital Management LLC’s holdings in Johnson & Johnson were worth $22,437,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Innealta Capital LLC bought a new position in shares of Johnson & Johnson in the 2nd quarter worth $27,000. Highline Wealth Partners LLC bought a new position in Johnson & Johnson during the third quarter worth about $31,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Johnson & Johnson during the 3rd quarter worth about $35,000. Mowery & Schoenfeld Wealth Management LLC increased its stake in shares of Johnson & Johnson by 58.7% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock valued at $40,000 after acquiring an additional 91 shares during the last quarter. Finally, Activest Wealth Management bought a new position in Johnson & Johnson during the 3rd quarter worth approximately $40,000. 69.55% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

JNJ has been the subject of several recent analyst reports. Wolfe Research began coverage on shares of Johnson & Johnson in a research note on Friday, November 15th. They issued an “outperform” rating and a $190.00 target price for the company. Wells Fargo & Company raised their price objective on Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Citigroup boosted their target price on Johnson & Johnson from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Morgan Stanley raised their price target on Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research report on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $175.94.

Johnson & Johnson Trading Up 0.6 %

Shares of NYSE:JNJ opened at $155.40 on Friday. The company’s 50-day moving average price is $159.33 and its two-hundred day moving average price is $156.38. Johnson & Johnson has a one year low of $143.13 and a one year high of $168.85. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79. The stock has a market capitalization of $374.14 billion, a PE ratio of 22.49, a price-to-earnings-growth ratio of 2.76 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, beating the consensus estimate of $2.21 by $0.21. The firm had revenue of $22.47 billion during the quarter, compared to analysts’ expectations of $22.17 billion. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.66 earnings per share. On average, equities analysts forecast that Johnson & Johnson will post 9.93 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be given a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 3.19%. The ex-dividend date is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio (DPR) is currently 71.78%.

Johnson & Johnson 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.