Johnson & Johnson (JNJ) Stock Rating Lowered by Zacks Investment Research
Johnson & Johnson (NYSE:JNJ) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.
According to Zacks, “Sales in J&J’s domestic Pharma segment decelerated in the first half of 2017 as a number of key growth drivers like Remicade and Concerta are facing competition. However, sales growth accelerated in Q3 and the positive trend is expected to continue in Q4. We believe that new products in all segments, label expansion of drugs like Imbruvica and Darzalex and contribution from recent acquisitions – mainly Actelion – can support top-line growth. Meanwhile, share buybacks and the restructuring initiative should provide bottom-line support. J&J is also making rapid progress with its pipeline and line extensions. J&J’s shares have outperformed the industry this year so far. However, headwinds like generics, pricing pressure and soft global market conditions remain. Sluggish growth in the Consumer segment is also a concern.”
A number of other equities analysts also recently weighed in on JNJ. J P Morgan Chase & Co boosted their target price on shares of Johnson & Johnson from $140.00 to $148.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 16th. Jefferies Group set a $145.00 target price on shares of Johnson & Johnson and gave the stock a “hold” rating in a research note on Tuesday, August 15th. Cowen set a $147.00 target price on shares of Johnson & Johnson and gave the stock a “buy” rating in a research note on Thursday, August 24th. UBS reaffirmed an “underweight” rating on shares of Johnson & Johnson in a research note on Thursday, August 24th. Finally, BMO Capital Markets reissued a “buy” rating and set a $145.00 price target on shares of Johnson & Johnson in a research note on Friday, September 1st. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $145.04.
Shares of Johnson & Johnson (JNJ) traded down $1.11 during midday trading on Tuesday, hitting $141.78. 709,435 shares of the company’s stock were exchanged, compared to its average volume of 5,871,992. Johnson & Johnson has a one year low of $110.76 and a one year high of $144.35. The company has a market capitalization of $383,702.22, a P/E ratio of 20.00, a PEG ratio of 2.90 and a beta of 0.80. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.02 and a current ratio of 1.32.
Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Tuesday, October 17th. The company reported $1.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.80 by $0.10. Johnson & Johnson had a net margin of 21.28% and a return on equity of 27.38%. The company had revenue of $19.65 billion during the quarter, compared to the consensus estimate of $19.29 billion. During the same period in the previous year, the firm posted $1.68 earnings per share. The company’s revenue was up 10.3% on a year-over-year basis. research analysts expect that Johnson & Johnson will post 7.28 earnings per share for the current year.
A number of large investors have recently modified their holdings of JNJ. Karpus Management Inc. acquired a new position in shares of Johnson & Johnson in the third quarter valued at approximately $231,000. Wagner Bowman Management Corp boosted its holdings in shares of Johnson & Johnson by 3.2% in the third quarter. Wagner Bowman Management Corp now owns 47,171 shares of the company’s stock valued at $6,132,000 after buying an additional 1,452 shares during the period. Hikari Tsushin Inc. boosted its holdings in shares of Johnson & Johnson by 8.3% in the third quarter. Hikari Tsushin Inc. now owns 53,810 shares of the company’s stock valued at $6,996,000 after buying an additional 4,130 shares during the period. Burgundy Asset Management Ltd. boosted its holdings in shares of Johnson & Johnson by 0.4% in the third quarter. Burgundy Asset Management Ltd. now owns 3,195,878 shares of the company’s stock valued at $415,496,000 after buying an additional 11,257 shares during the period. Finally, Chicago Partners Investment Group LLC boosted its holdings in shares of Johnson & Johnson by 9.9% in the third quarter. Chicago Partners Investment Group LLC now owns 12,714 shares of the company’s stock valued at $1,653,000 after buying an additional 1,144 shares during the period. 65.89% of the stock is owned by hedge funds and other institutional investors.
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Johnson & Johnson Company Profile
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. It operates through three segments: Consumer, Pharmaceutical and Medical Devices. Its primary focus is products related to human health and well-being.
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