Johnson & Johnson (NYSE:JNJ) Price Target Raised to $220.00

Johnson & Johnson (NYSE:JNJ) had its target price raised by Bank of America from $204.00 to $220.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Bank of America‘s target price suggests a potential upside of 3.95% from the stock’s previous close.

Several other analysts also recently weighed in on JNJ. Guggenheim boosted their price objective on Johnson & Johnson from $206.00 to $227.00 and gave the company a “buy” rating in a research report on Friday, December 5th. HSBC restated a “buy” rating and issued a $240.00 target price on shares of Johnson & Johnson in a report on Wednesday. Wall Street Zen upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating in a report on Saturday, September 13th. Citigroup raised their price target on shares of Johnson & Johnson from $215.00 to $232.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Morgan Stanley upped their price objective on shares of Johnson & Johnson from $190.00 to $197.00 and gave the company an “equal weight” rating in a research note on Friday. Four investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, Johnson & Johnson has a consensus rating of “Moderate Buy” and a consensus price target of $208.35.

Johnson & Johnson Stock Performance

NYSE JNJ opened at $211.65 on Monday. The company has a 50-day simple moving average of $196.09 and a two-hundred day simple moving average of $177.42. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $212.27. The firm has a market cap of $509.93 billion, a price-to-earnings ratio of 20.43, a PEG ratio of 2.36 and a beta of 0.36. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.50.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Wednesday, August 30th. The company reported $2.26 EPS for the quarter. Johnson & Johnson had a return on equity of 32.73% and a net margin of 27.26%.The firm had revenue of $24.02 billion for the quarter. On average, equities analysts forecast that Johnson & Johnson will post 10.58 EPS for the current year.

Hedge Funds Weigh In On Johnson & Johnson

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Brighton Jones LLC lifted its position in Johnson & Johnson by 13.9% during the fourth quarter. Brighton Jones LLC now owns 51,876 shares of the company’s stock valued at $7,502,000 after buying an additional 6,332 shares during the period. United Bank grew its position in shares of Johnson & Johnson by 110.7% in the 1st quarter. United Bank now owns 9,279 shares of the company’s stock worth $1,539,000 after buying an additional 4,876 shares during the period. Algert Global LLC increased its stake in shares of Johnson & Johnson by 30.2% in the 1st quarter. Algert Global LLC now owns 32,607 shares of the company’s stock worth $5,408,000 after acquiring an additional 7,561 shares in the last quarter. Versor Investments LP purchased a new position in Johnson & Johnson during the 1st quarter valued at about $444,000. Finally, Brooklyn Investment Group boosted its stake in Johnson & Johnson by 22.6% during the first quarter. Brooklyn Investment Group now owns 20,173 shares of the company’s stock worth $3,345,000 after acquiring an additional 3,716 shares in the last quarter. Hedge funds and other institutional investors 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.