Sterling Capital Management LLC Trims Stock Position in Johnson & Johnson (NYSE:JNJ)

Sterling Capital Management LLC reduced its stake in shares of Johnson & Johnson (NYSE:JNJ) by 84.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 56,495 shares of the company’s stock after selling 314,650 shares during the quarter. Sterling Capital Management LLC’s holdings in Johnson & Johnson were worth $8,170,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Principal Financial Group Inc. grew its holdings in Johnson & Johnson by 10.5% in the third quarter. Principal Financial Group Inc. now owns 3,472,312 shares of the company’s stock valued at $562,723,000 after purchasing an additional 329,473 shares during the period. Neo Ivy Capital Management purchased a new position in shares of Johnson & Johnson during the 3rd quarter valued at approximately $242,000. Invst LLC grew its stake in Johnson & Johnson by 394.0% in the 3rd quarter. Invst LLC now owns 10,290 shares of the company’s stock valued at $1,668,000 after acquiring an additional 8,207 shares during the period. McIlrath & Eck LLC raised its position in Johnson & Johnson by 10.7% during the third quarter. McIlrath & Eck LLC now owns 2,892 shares of the company’s stock worth $469,000 after acquiring an additional 279 shares during the period. Finally, Passumpsic Savings Bank purchased a new position in Johnson & Johnson during the third quarter valued at $262,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Up 2.0 %

JNJ stock opened at $151.62 on Friday. Johnson & Johnson has a one year low of $140.68 and a one year high of $169.99. The firm has a market cap of $365.39 billion, a PE ratio of 22.80, a PEG ratio of 2.56 and a beta of 0.49. The firm’s 50 day moving average price is $159.40 and its 200-day moving average price is $155.21. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.86 and a current ratio of 1.11.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 EPS for the quarter, beating the consensus estimate of $1.99 by $0.05. The business had revenue of $22.52 billion for the quarter, compared to analyst estimates of $22.44 billion. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. The company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.29 EPS. On average, equities research analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current year.

Wall Street Analysts Forecast Growth

JNJ has been the subject of several research analyst reports. Wells Fargo & Company reduced their price target on shares of Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. Bank of America decreased their target price on Johnson & Johnson from $171.00 to $159.00 and set a “neutral” rating on the stock in a research report on Thursday. Leerink Partners dropped their price target on Johnson & Johnson from $182.00 to $169.00 and set an “outperform” rating for the company in a research report on Thursday, January 23rd. Barclays raised their price objective on Johnson & Johnson from $159.00 to $166.00 and gave the company an “equal weight” rating in a report on Tuesday, January 28th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $181.00 target price on shares of Johnson & Johnson in a research report on Wednesday, April 2nd. Eight analysts have rated the stock with a hold rating, nine have given a buy rating and two have 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 $171.67.

Insider Buying and Selling at Johnson & Johnson

In related news, VP Robert J. Decker sold 6,999 shares of the stock in a transaction that occurred 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 transaction, the vice president now owns 21,001 shares of the company’s stock, valued at approximately $3,483,645.88. This trade represents a 25.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Timothy Schmid sold 403 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $156.15, for a total value of $62,928.45. Following the transaction, the executive vice president now owns 15,098 shares in the company, valued at $2,357,552.70. This trade represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.16% of the company’s stock.

Johnson & Johnson 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.