Johnson & Johnson (NYSE:JNJ) Price Target Raised to $162.00

Johnson & Johnson (NYSE:JNJ) had its target price upped by stock analysts at Guggenheim from $156.00 to $162.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Guggenheim’s price objective would suggest a potential upside of 2.40% from the company’s current price.

A number of other brokerages have also issued reports on JNJ. Wells Fargo & Company raised their target price on Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Morgan Stanley lifted their price target on Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. Daiwa America cut Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Finally, Citigroup lifted their price target on Johnson & Johnson from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and a consensus price target of $175.00.

Johnson & Johnson Stock Down 0.1 %

Shares of JNJ traded down $0.14 during midday trading on Wednesday, hitting $158.21. 3,918,717 shares of the company’s stock traded hands, compared to its average volume of 6,957,393. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $168.85. The firm’s fifty day moving average is $163.09 and its 200-day moving average is $155.75. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $380.91 billion, a price-to-earnings ratio of 22.90, a price-to-earnings-growth ratio of 2.84 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, beating the consensus estimate of $2.21 by $0.21. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The firm had revenue of $22.47 billion during the quarter, compared to analyst estimates of $22.17 billion. During the same quarter in the prior year, the business posted $2.66 EPS. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Johnson & Johnson will post 9.94 earnings per share for the current year.

Insider Activity at Johnson & Johnson

In related news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $165.06, for a total value of $930,113.10. Following the completion of the transaction, the vice president now owns 18,973 shares in the company, valued at $3,131,683.38. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is owned by company insiders.

Hedge Funds Weigh In On Johnson & Johnson

Several institutional investors and hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD increased its stake in shares of Johnson & Johnson by 16.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock valued at $3,453,978,000 after purchasing an additional 3,139,499 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Johnson & Johnson by 10.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 18,780,645 shares of the company’s stock worth $2,744,979,000 after buying an additional 1,831,751 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Johnson & Johnson by 5.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 14,374,397 shares of the company’s stock worth $2,100,427,000 after buying an additional 754,200 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Johnson & Johnson by 16.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,147,352 shares of the company’s stock worth $1,921,565,000 after buying an additional 1,829,257 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in Johnson & Johnson by 5.8% during the 2nd quarter. American Century Companies Inc. now owns 8,014,213 shares of the company’s stock worth $1,171,357,000 after buying an additional 437,637 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Company Profile

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.