Royal Bank of Canada Reaffirms Outperform Rating for Johnson & Johnson (NYSE:JNJ)

Royal Bank of Canada restated their outperform rating on shares of Johnson & Johnson (NYSE:JNJ) in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a $181.00 target price on the stock.

Other equities research analysts also recently issued reports about the stock. StockNews.com lowered shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Friday, January 17th. Wells Fargo & Company lowered their target price on Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating for the company in a research report on Thursday. Citigroup reduced their price target on Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Wolfe Research started coverage on Johnson & Johnson in a research report on Friday, November 15th. They set an “outperform” rating and a $190.00 price objective for the company. Finally, Raymond James reduced their target price on Johnson & Johnson from $170.00 to $165.00 and set an “outperform” rating on the stock in a report on Thursday. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Johnson & Johnson has a consensus rating of “Moderate Buy” and a consensus target price of $170.06.

Johnson & Johnson Trading Up 0.9 %

Shares of Johnson & Johnson stock opened at $146.58 on Thursday. The firm’s 50 day moving average is $148.10 and its 200 day moving average is $156.05. The firm has a market capitalization of $352.91 billion, a PE ratio of 21.21, a price-to-earnings-growth ratio of 2.52 and a beta of 0.51. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $168.85. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.05. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The company had revenue of $22.52 billion during the quarter, compared to analysts’ expectations of $22,438,500 billion. During the same period in the prior year, the company earned $2.29 EPS. Johnson & Johnson’s revenue was up 5.3% compared to the same quarter last year. Equities research analysts forecast that Johnson & Johnson will post 9.95 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be paid a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date is Tuesday, February 18th. Johnson & Johnson’s dividend payout ratio (DPR) is currently 71.78%.

Insider Transactions at Johnson & Johnson

In other Johnson & Johnson news, Director Mark A. Weinberger bought 1,000 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was bought at an average cost of $147.22 per share, with a total value of $147,220.00. Following the completion of the transaction, the director now directly owns 1,000 shares in the company, valued at approximately $147,220. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 0.16% of the stock is owned by insiders.

Hedge Funds Weigh In On Johnson & Johnson

A number of hedge funds have recently added to or reduced their stakes in JNJ. Fred Alger Management LLC raised its holdings in shares of Johnson & Johnson by 6.1% in the second quarter. Fred Alger Management LLC now owns 42,968 shares of the company’s stock valued at $6,280,000 after purchasing an additional 2,488 shares during the last quarter. AQR Capital Management LLC increased its stake in Johnson & Johnson by 38.6% in the 2nd quarter. AQR Capital Management LLC now owns 3,350,292 shares of the company’s stock valued at $489,176,000 after buying an additional 932,477 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of 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. Drucker Wealth 3.0 LLC purchased a new position in shares of Johnson & Johnson in the 2nd quarter worth approximately $612,000. Finally, Daymark Wealth Partners LLC grew its holdings in shares of Johnson & Johnson by 2.0% in the second quarter. Daymark Wealth Partners LLC now owns 304,204 shares of the company’s stock valued at $44,462,000 after acquiring an additional 6,033 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

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.