Johnson & Johnson (NYSE:JNJ) PT Lowered to $170.00

Johnson & Johnson (NYSE:JNJ) had its price target lowered by analysts at Bank of America from $180.00 to $170.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Bank of America‘s price target points to a potential upside of 16.65% from the stock’s current price.

Other research analysts have also issued research reports about the company. Morgan Stanley dropped their target price on Johnson & Johnson from $170.00 to $169.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 24th. Royal Bank of Canada reduced their target price on Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating on the stock in a research note on Wednesday. Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research note on Monday. Raymond James raised their price target on shares of Johnson & Johnson from $172.00 to $175.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 3rd. Finally, StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 6th. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $175.86.

Johnson & Johnson Price Performance

Shares of Johnson & Johnson stock opened at $145.74 on Wednesday. The stock has a 50 day moving average price of $156.32 and a 200-day moving average price of $155.68. Johnson & Johnson has a one year low of $143.13 and a one year high of $175.97. The stock has a market cap of $351.20 billion, a price-to-earnings ratio of 9.09, a price-to-earnings-growth ratio of 2.40 and a beta of 0.53. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.91 and a current ratio of 1.16.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, topping the consensus estimate of $2.64 by $0.07. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.43%. The company had revenue of $21.38 billion during the quarter, compared to analyst estimates of $21.39 billion. During the same period in the previous year, the firm earned $2.68 earnings per share. Johnson & Johnson’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities analysts expect that Johnson & Johnson will post 10.65 EPS for the current year.

Insider Activity

In other Johnson & Johnson news, major shareholder & Johnson Johnson sold 3,725 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $25.81, for a total transaction of $96,142.25. Following the sale, the insider now owns 4,099,575 shares of the company’s stock, valued at approximately $105,810,030.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Jennifer L. Taubert sold 59,397 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $156.27, for a total value of $9,281,969.19. Following the sale, the executive vice president now owns 141,416 shares in the company, valued at $22,099,078.32. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder & Johnson Johnson sold 3,725 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $25.81, for a total transaction of $96,142.25. Following the transaction, the insider now directly owns 4,099,575 shares of the company’s stock, valued at $105,810,030.75. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.

Institutional Trading of Johnson & Johnson

A number of hedge funds and other institutional investors have recently made changes to their positions in JNJ. Hibernia Wealth Partners LLC acquired a new position in shares of Johnson & Johnson during the 3rd quarter worth approximately $27,000. FNY Investment Advisers LLC purchased a new position in Johnson & Johnson during the third quarter valued at $37,000. Keener Financial Planning LLC purchased a new stake in shares of Johnson & Johnson during the fourth quarter worth about $40,000. Tower View Wealth Management LLC raised its position in shares of Johnson & Johnson by 183.3% during the 3rd quarter. Tower View Wealth Management LLC now owns 255 shares of the company’s stock worth $40,000 after purchasing an additional 165 shares during the last quarter. Finally, WFA Asset Management Corp boosted its holdings in Johnson & Johnson by 61.4% in the 4th quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock worth $40,000 after buying an additional 97 shares during the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

About Johnson & Johnson

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.