The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Johnson & Johnson shares valued at $1,441,765 were sold by Broadhurst Vanessa on Mar 13 ’24. At $162.16 per share, Broadhurst Vanessa sold 8,891 shares. The insider’s holdings dropped to 15,043 shares worth approximately $2.24 million following the completion of this transaction.
Also, JOHNSON & JOHNSON sold 3,725 shares, netting a total of over 96,142 in proceeds. Following the sale of shares at $25.81 each, the insider now holds 4,099,575 shares.
Before that, Taubert Jennifer L had sold 59,397 shares from its account. In a trade valued at $9,281,969, the EVP, WW Chair, Pharmaceuticals traded Johnson & Johnson shares for $156.27 each. Upon closing the transaction, the insider’s holdings decreased to 59,397 shares, worth approximately $21.04 million.
As published in a research note from Wells Fargo on December 13, 2023, Johnson & Johnson [JNJ] has been rated down from an Overweight to an Equal weight and the price target has been revised to $163 from $170. Analysts at UBS upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in early December. As of October 05, 2023, RBC Capital Mkts has initiated its “an Outperform” rating for JNJ. Earlier on September 06, 2023, HSBC Securities initiated its rating. Their recommendation was “a Hold” for JNJ stock.
Analyzing JNJ Stock Performance
During the last five days, there has been a drop of approximately -2.43%. Over the course of the year, Johnson & Johnson shares have dropped approximately -5.07%. Shares of the company reached a 52-week high of $163.58 on 01/22/24 and a 52-week low of $148.39 on 04/11/24. A 50-day SMA is recorded $157.47, while a 200-day SMA reached $158.99. Nevertheless, trading volume fell to 8.37 million shares from 6.81 million shares the previous day.
Support And Resistance Levels for Johnson & Johnson (JNJ)
According to the 24-hour chart, there is a support level at 147.83, which, if violated, would cause prices to drop to 146.87. In the upper region, resistance lies at 150.31. The next price resistance is at 151.83. RSI (Relative Strength Index) is 25.85 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.85, which suggests the price will decrease in the coming days. Percent R is at 96.28%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Johnson & Johnson subject to short interest?
Stocks of Johnson & Johnson saw a sharp rise in short interest on Mar 28, 2024 jumping by 1.09 million shares to 15.94 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 14.85 million shares. A jump of 6.84% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.24 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.24.
