Johnson & Johnson (JNJ) Rating Reiterated by Credit Suisse Group AG
Johnson & Johnson (NYSE:JNJ)‘s stock had its “neutral” rating reiterated by analysts at Credit Suisse Group AG in a research note issued to investors on Monday. They currently have a $123.00 target price on the stock. Credit Suisse Group AG’s price target would indicate a potential upside of 4.28% from the company’s current price.
A number of other equities research analysts have also recently commented on JNJ. Zacks Investment Research raised Johnson & Johnson from a “hold” rating to a “buy” rating and set a $133.00 price target on the stock in a report on Tuesday, September 13th. Jefferies Group decreased their price target on Johnson & Johnson from $119.00 to $115.00 and set a “hold” rating on the stock in a report on Tuesday, September 13th. Leerink Swann reissued a “buy” rating on shares of Johnson & Johnson in a report on Sunday, September 11th. BTIG Research reissued a “neutral” rating on shares of Johnson & Johnson in a report on Wednesday, September 7th. Finally, Vetr raised Johnson & Johnson from a “hold” rating to a “buy” rating and set a $124.21 price target on the stock in a report on Monday, August 22nd. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the company’s stock. Johnson & Johnson currently has a consensus rating of “Hold” and an average price target of $119.57.
Shares of Johnson & Johnson (NYSE:JNJ) opened at 117.95 on Monday. The stock has a market capitalization of $322.70 billion, a PE ratio of 21.98 and a beta of 0.61. The company’s 50-day moving average price is $120.43 and its 200 day moving average price is $116.12. Johnson & Johnson has a one year low of $89.90 and a one year high of $126.07.
Johnson & Johnson (NYSE:JNJ) last released its earnings results on Tuesday, July 19th. The company reported $1.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.68 by $0.06. The company had revenue of $18.50 billion for the quarter, compared to the consensus estimate of $17.98 billion. Johnson & Johnson had a return on equity of 24.70% and a net margin of 20.97%. Analysts anticipate that Johnson & Johnson will post $6.69 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Tuesday, August 23rd were issued a $0.80 dividend. The ex-dividend date of this dividend was Friday, August 19th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.71%. Johnson & Johnson’s payout ratio is 60.15%.
In related news, CAO Ronald A. Kapusta sold 2,935 shares of the business’s stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $125.01, for a total value of $366,904.35. Following the completion of the sale, the chief accounting officer now owns 28,660 shares in the company, valued at $3,582,786.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Dominic J. Caruso sold 41,146 shares of the business’s stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $125.01, for a total value of $5,143,661.46. Following the completion of the sale, the vice president now owns 157,819 shares of the company’s stock, valued at approximately $19,728,953.19. The disclosure for this sale can be found here. 0.11% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. Carnick & Kubik Group LLC acquired a new position in shares of Johnson & Johnson during the second quarter worth approximately $855,000. Williams Jones & Associates LLC increased its position in shares of Johnson & Johnson by 33.5% in the second quarter. Williams Jones & Associates LLC now owns 568,774 shares of the company’s stock worth $68,992,000 after buying an additional 142,806 shares during the period. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Johnson & Johnson during the second quarter worth approximately $13,472,000. Kentucky Retirement Systems acquired a new position in shares of Johnson & Johnson during the second quarter worth approximately $28,373,000. Finally, KAMES CAPITAL plc increased its position in shares of Johnson & Johnson by 1.4% in the second quarter. KAMES CAPITAL plc now owns 1,023,779 shares of the company’s stock worth $124,164,000 after buying an additional 14,212 shares during the period. Hedge funds and other institutional investors own 65.31% of the company’s stock.
About Johnson & Johnson
Johnson & Johnson is a holding company, which is engaged in the research and development, manufacture and sale of a range of products in the healthcare field. The Company’s segments include Consumer, Pharmaceutical and Medical Devices. The Consumer segment includes a range of products used in the baby care, oral care, skin care, over-the-counter pharmaceutical, women’s health and wound care markets.
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