New Harbor Financial Group Exits Position in Johnson & Johnson (JNJ)

Johnson & Johnson (JNJ) : New Harbor Financial Group has sold out all of its stake in Johnson & Johnson during the most recent quarter, according to the disclosure filed by the company on Oct 13, 2016 with the SEC. The investment management company has sold out 93 shares of Johnson & Johnson which is valued at $10,998.

Other Hedge Funds, Including , Cornerstone Investment Partners reduced its stake in JNJ by selling 308,804 shares or 23.93% in the most recent quarter. The Hedge Fund company now holds 981,789 shares of JNJ which is valued at $116,106,367. Johnson & Johnson makes up approx 5.13% of Cornerstone Investment Partners’s portfolio.Atria Investments boosted its stake in JNJ in the latest quarter, The investment management firm added 10,527 additional shares and now holds a total of 60,670 shares of Johnson & Johnson which is valued at $7,137,219. Johnson & Johnson makes up approx 0.67% of Atria Investments’s portfolio. Bristlecone Advisors added JNJ to its portfolio by purchasing 26,270 company shares during the most recent quarter which is valued at $3,090,403. Johnson & Johnson makes up approx 1.13% of Bristlecone Advisors’s portfolio.Legal General Group Plc boosted its stake in JNJ in the latest quarter, The investment management firm added 55,306 additional shares and now holds a total of 13,750,590 shares of Johnson & Johnson which is valued at $1,617,619,408. Johnson & Johnson makes up approx 1.67% of Legal General Group Plc’s portfolio.Capstone Asset Management Co boosted its stake in JNJ in the latest quarter, The investment management firm added 10,739 additional shares and now holds a total of 91,107 shares of Johnson & Johnson which is valued at $10,717,827. Johnson & Johnson makes up approx 0.31% of Capstone Asset Management Co’s portfolio.

Johnson & Johnson closed down -2.16 points or -1.80% at $117.64 with 63,94,159 shares getting traded on Tuesday. Post opening the session at $119.41, the shares hit an intraday low of $117.06 and an intraday high of $119.63 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Johnson & Johnson reported $1.74 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Jul 19, 2016. Analyst had a consensus of $1.68. The company had revenue of $18482.00 million for the quarter, compared to analysts expectations of $17985.80 million. The company’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.71 EPS.

Many Wall Street Analysts have commented on Johnson & Johnson. Company shares were Reiterated by UBS on Jul 20, 2016 to “Buy”, Firm has raised the Price Target to $ 137 from a previous price target of $126 .Company shares were Reiterated by RBC Capital Mkts on Jul 20, 2016 to “Outperform”, Firm has raised the Price Target to $ 133 from a previous price target of $125 .

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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