Gavekal Capital Lowers stake in Johnson & Johnson (JNJ)

Johnson & Johnson (JNJ) : Gavekal Capital reduced its stake in Johnson & Johnson by 35.86% during the most recent quarter end. The investment management company now holds a total of 73,782 shares of Johnson & Johnson which is valued at $8,673,812 after selling 41,259 shares in Johnson & Johnson , the firm said in a disclosure report filed with the SEC on Oct 17, 2016.Johnson & Johnson makes up approximately 2.96% of Gavekal Capital’s portfolio.

Other Hedge Funds, Including , Starfire Investment Advisers boosted its stake in JNJ in the latest quarter, The investment management firm added 5 additional shares and now holds a total of 4,973 shares of Johnson & Johnson which is valued at $584,626. Johnson & Johnson makes up approx 0.40% of Starfire Investment Advisers’s portfolio.Genesee Valley Trust Co reduced its stake in JNJ by selling 27 shares or 0.13% in the most recent quarter. The Hedge Fund company now holds 21,065 shares of JNJ which is valued at $2,478,087. Johnson & Johnson makes up approx 1.60% of Genesee Valley Trust Co’s portfolio.Bristol John W Co Inc Ny reduced its stake in JNJ by selling 31,482 shares or 1.66% in the most recent quarter. The Hedge Fund company now holds 1,866,081 shares of JNJ which is valued at $223,556,504. Johnson & Johnson makes up approx 6.13% of Bristol John W Co Inc Ny’s portfolio.Cardinal Capital Management reduced its stake in JNJ by selling 2,012 shares or 1.85% in the most recent quarter. The Hedge Fund company now holds 106,737 shares of JNJ which is valued at $12,720,916. Johnson & Johnson makes up approx 1.44% of Cardinal Capital Management’s portfolio.Harbour Capital Advisors reduced its stake in JNJ by selling 175 shares or 0.92% in the most recent quarter. The Hedge Fund company now holds 18,876 shares of JNJ which is valued at $2,249,642. Johnson & Johnson makes up approx 1.21% of Harbour Capital Advisors’s portfolio.

Johnson & Johnson closed down -0.7 points or -0.59% at $117.56 with 56,40,519 shares getting traded on Friday. Post opening the session at $118.5, the shares hit an intraday low of $117.56 and an intraday high of $118.8 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Johnson & Johnson reported $1.68 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Oct 18, 2016. Analyst had a consensus of $1.66. The company had revenue of $17820.00 million for the quarter, compared to analysts expectations of $17744.90 million. The company’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.49 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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