Municipal Employees’ Retirement System Of Michigan buys $10,713,682 stake in Johnson & Johnson (JNJ)

Johnson & Johnson (JNJ) : Municipal Employees’ Retirement System Of Michigan scooped up 1,280 additional shares in Johnson & Johnson during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 3, 2016. The investment management firm now holds a total of 95,030 shares of Johnson & Johnson which is valued at $10,713,682.Johnson & Johnson makes up approximately 0.71% of Municipal Employees’ Retirement System Of Michigan’s portfolio.

Other Hedge Funds, Including , Bank Of The West boosted its stake in JNJ in the latest quarter, The investment management firm added 180 additional shares and now holds a total of 45,568 shares of Johnson & Johnson which is valued at $5,137,336. Johnson & Johnson makes up approx 0.71% of Bank Of The West’s portfolio.Smithbridge Asset Management Incde reduced its stake in JNJ by selling 1,650 shares or 3.79% in the most recent quarter. The Hedge Fund company now holds 41,839 shares of JNJ which is valued at $4,689,315. Johnson & Johnson makes up approx 4.38% of Smithbridge Asset Management Incde’s portfolio.Bank Of Hawaii reduced its stake in JNJ by selling 14,435 shares or 9.87% in the most recent quarter. The Hedge Fund company now holds 131,818 shares of JNJ which is valued at $14,774,161. Johnson & Johnson makes up approx 1.58% of Bank Of Hawaii’s portfolio.Dividend Asset Capital reduced its stake in JNJ by selling 391 shares or 1.63% in the most recent quarter. The Hedge Fund company now holds 23,655 shares of JNJ which is valued at $2,680,585. Johnson & Johnson makes up approx 0.07% of Dividend Asset Capital’s portfolio.

Johnson & Johnson opened for trading at $114 and hit $115 on the upside on Tuesday, eventually ending the session at $114.67, with a gain of 0.84% or 0.95 points. The heightened volatility saw the trading volume jump to 83,56,411 shares. Company has a market cap of $316,416 M.

On the company’s financial health, Johnson & Johnson reported $1.68 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 19, 2016. Analyst had a consensus of $1.65. The company had revenue of $17482.00 million for the quarter, compared to analysts expectations of $17491.02 million. The company’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.56 EPS.

Many Wall Street Analysts have commented on Johnson & Johnson. Company shares were Reiterated by RBC Capital Mkts on Apr 20, 2016 to “Outperform”, Firm has raised the Price Target to $ 125 from a previous price target of $122 .Company shares were Reiterated by Piper Jaffray on Apr 20, 2016 to “Neutral”, Firm has raised the Price Target to $ 106 from a previous price target of $105 .Company shares were Reiterated by RBC Capital Mkts on Apr 15, 2016 to “Outperform”, Firm has raised the Price Target to $ 122 from a previous price target of $114 .

Johnson & Johnson is a holding company. The Company is engaged in the research and development manufacture and sale of a range of products in the health care field. The Company has more than 265 operating companies conducting business around the world. The Company’s primary focus is products related to human health and well-being. The Company is organized into three business segments: Consumer Pharmaceutical and Medical Devices. The Company’s subsidiaries operate 134 manufacturing facilities occupying approximately 21.5 million square feet of floor space. The Company’s research facilities are located in the United States Belgium Brazil Canada China France Germany India Israel Japan the Netherlands Singapore Switzerland and the United Kingdom.

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