Johnson & Johnson’s (JNJ) “Outperform” Rating Reiterated at Wells Fargo & Co
Wells Fargo & Co restated their outperform rating on shares of Johnson & Johnson (NYSE:JNJ) in a research note released on Friday, Marketbeat.com reports. They currently have a $160.00 price target on the stock, up from their previous price target of $155.00.
Several other brokerages have also recently commented on JNJ. Credit Suisse Group set a $154.00 price target on shares of Johnson & Johnson and gave the stock an outperform rating in a research report on Thursday, October 19th. Vetr upgraded shares of Johnson & Johnson from a hold rating to a buy rating and set a $147.40 price target for the company in a research report on Monday, January 1st. Royal Bank of Canada lifted their price target on shares of Johnson & Johnson from $144.00 to $147.00 and gave the stock an outperform rating in a research report on Wednesday, October 18th. Citigroup started coverage on shares of Johnson & Johnson in a research note on Monday, September 25th. They set a neutral rating and a $140.00 price objective on the stock. Finally, Goldman Sachs Group lowered shares of Johnson & Johnson from a neutral rating to a sell rating and lifted their price objective for the stock from $125.00 to $130.00 in a research note on Wednesday, September 20th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the stock. Johnson & Johnson currently has a consensus rating of Hold and an average target price of $145.94.
Shares of Johnson & Johnson (NYSE JNJ) traded up $1.30 during trading hours on Friday, hitting $147.06. 1,494,589 shares of the stock traded hands, compared to its average volume of 6,020,711. Johnson & Johnson has a 12 month low of $110.76 and a 12 month high of $146.42. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.02 and a current ratio of 1.32. The firm has a market cap of $395,380.00, a PE ratio of 25.53, a price-to-earnings-growth ratio of 2.75 and a beta of 0.80.
Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Tuesday, October 17th. The company reported $1.90 EPS for the quarter, topping the 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 analysts’ expectations of $19.29 billion. During the same quarter in the previous year, the company earned $1.68 EPS. Johnson & Johnson’s revenue was up 10.3% on a year-over-year basis. sell-side analysts anticipate that Johnson & Johnson will post 7.28 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 13th. Shareholders of record on Tuesday, February 27th will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend is Monday, February 26th. Johnson & Johnson’s payout ratio is currently 58.33%.
A number of institutional investors and hedge funds have recently made changes to their positions in JNJ. Harding Loevner LP bought a new stake in shares of Johnson & Johnson in the second quarter worth $106,000. Mitsubishi UFJ Securities Holdings Co. Ltd. lifted its position in shares of Johnson & Johnson by 29.9% in the second quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 870 shares of the company’s stock worth $115,000 after purchasing an additional 200 shares in the last quarter. Lenox Wealth Advisors Inc. lifted its position in shares of Johnson & Johnson by 0.6% in the second quarter. Lenox Wealth Advisors Inc. now owns 876 shares of the company’s stock worth $116,000 after purchasing an additional 5 shares in the last quarter. IHT Wealth Management LLC lifted its position in shares of Johnson & Johnson by 46.4% in the second quarter. IHT Wealth Management LLC now owns 10,942 shares of the company’s stock worth $122,000 after purchasing an additional 3,467 shares in the last quarter. Finally, Mountain Capital Investment Advisors Inc bought a new stake in shares of Johnson & Johnson in the second quarter worth $124,000. 65.71% of the stock is currently owned by hedge funds and other institutional investors.
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. 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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