Johnson & Johnson (NYSE:JNJ) Price Target Cut to $169.00 by Analysts at Leerink Partners

Johnson & Johnson (NYSE:JNJ) had its price objective reduced by stock analysts at Leerink Partners from $182.00 to $169.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Leerink Partners’ target price would indicate a potential upside of 15.16% from the stock’s previous close.

Several other research firms have also recently weighed in on JNJ. Barclays cut their price objective on shares of Johnson & Johnson from $160.00 to $159.00 and set an “equal weight” rating for the company in a research report on Tuesday. Raymond James decreased their price objective on shares of Johnson & Johnson from $170.00 to $165.00 and set an “outperform” rating on the stock in a research note on Thursday. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research note on Wednesday, October 16th. Royal Bank of Canada lifted their price target on Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, Wolfe Research initiated coverage on Johnson & Johnson in a research note on Friday, November 15th. They issued an “outperform” rating and a $190.00 price objective on the stock. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $170.72.

Johnson & Johnson Stock Performance

Shares of NYSE JNJ traded up $1.49 during trading hours on Thursday, reaching $146.76. 1,821,748 shares of the stock were exchanged, compared to its average volume of 8,839,811. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.79 and a current ratio of 1.03. The stock’s fifty day simple moving average is $148.10 and its 200 day simple moving average is $156.05. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $168.85. The firm has a market capitalization of $353.33 billion, a price-to-earnings ratio of 21.20, a P/E/G ratio of 2.52 and a beta of 0.51.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.05. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The business had revenue of $22.52 billion for the quarter, compared to analyst estimates of $22,438,500 billion. During the same period last year, the firm earned $2.29 earnings per share. Johnson & Johnson’s revenue for the quarter was up 5.3% compared to the same quarter last year. Sell-side analysts predict that Johnson & Johnson will post 9.95 EPS for the current year.

Insider Buying and Selling

In other news, Director Mark A. Weinberger purchased 1,000 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were acquired at an average cost of $147.22 per share, with a total value of $147,220.00. Following the purchase, the director now owns 1,000 shares in the company, valued at $147,220. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.16% of the stock is owned by insiders.

Hedge Funds Weigh In On Johnson & Johnson

Large investors have recently modified their holdings of the company. Summit Wealth Partners LLC increased its position in shares of Johnson & Johnson by 0.6% in the 2nd quarter. Summit Wealth Partners LLC now owns 10,007 shares of the company’s stock worth $1,463,000 after purchasing an additional 61 shares during the last quarter. Powers Advisory Group LLC increased its holdings in Johnson & Johnson by 0.6% in the third quarter. Powers Advisory Group LLC now owns 9,489 shares of the company’s stock valued at $1,538,000 after buying an additional 61 shares during the last quarter. Eagle Wealth Strategies LLC lifted its holdings in Johnson & Johnson by 2.8% during the 3rd quarter. Eagle Wealth Strategies LLC now owns 2,294 shares of the company’s stock worth $372,000 after buying an additional 63 shares during the last quarter. Knuff & Co LLC grew its position in shares of Johnson & Johnson by 0.7% in the 3rd quarter. Knuff & Co LLC now owns 9,466 shares of the company’s stock worth $1,534,000 after acquiring an additional 64 shares in the last quarter. Finally, Perkins Coie Trust Co raised its position in shares of Johnson & Johnson by 1.8% during the 3rd quarter. Perkins Coie Trust Co now owns 3,705 shares of the company’s stock valued at $600,000 after acquiring an additional 65 shares in the last quarter. 69.55% of the stock is currently owned by institutional investors.

Johnson & Johnson Company Profile

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.