Timothy Schmid, Executive Vice President and Worldwide Chair of MedTech at Johnson & Johnson (NYSE:JNJ), recently executed a series of stock transactions, as reported in a recent SEC filing. On February 18, Schmid sold 403 shares of Johnson & Johnson common stock at a price of $156.15 per share, totaling approximately $62,928.
Additionally, Schmid engaged in multiple transactions involving restricted share units (RSUs) and common stock. On February 13, he acquired 499 shares of common stock through the vesting of RSUs, and on February 14, he acquired 1,765 shares. Another acquisition of 1,029 shares occurred on February 15. These acquisitions were part of Johnson & Johnson’s Long-Term Incentive Plan and were not associated with any cash transactions.
In parallel, Schmid had shares withheld to cover tax obligations upon the vesting of RSUs, leading to the disposal of 193 shares at $155.26 per share and 639 shares at $156.71 per share, resulting in a combined value of $130,102. After these transactions, Schmid’s direct ownership in Johnson & Johnson stands at 15,098 shares.
In other recent news, Johnson & Johnson has been making significant strides in various sectors. The company’s newly offered senior unsecured notes have been rated ’AAA’ by S&P Global Ratings, but placed on CreditWatch with negative implications due to their acquisition of Intra-Cellular Therapies (NASDAQ:ITCI) Inc. and ongoing talc litigation. The acquisition of the pharmaceutical company is expected to increase Johnson & Johnson’s adjusted leverage, which will decline over the next few years.
Additionally, Johnson & Johnson has announced the limited U.S. release of its VARIPULSE™ devices after an investigation revealed they were operating as planned. The company has also made progress on nipocalimab, an investigational drug with potential to treat diseases driven by immunoglobulin G (IgG) antibodies, and plans to sell its stroke care business, Cerenovus, for over $1 billion as part of a restructuring plan for its medical technology division.
Guggenheim has maintained a neutral rating on Johnson & Johnson but increased the stock’s price target from $162.00 to $166.00, following the release of the company’s fourth-quarter 2024 results. This comes despite new competition from Stelara biosimilars in the U.S. market. These are the recent developments in Johnson & Johnson’s operations.
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