Johnson & Johnson’s (NYSE:JNJ) price target was dropped by equities researchers at Morgan Stanley from $153.00 to $130.00 in a research note issued to investors on Wednesday. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective indicates a potential upside of 2.57% from the stock’s previous close.
A number of other brokerages have also recently issued reports on JNJ. Raymond James upped their target price on Johnson & Johnson from $144.00 to $149.00 and gave the company an “outperform” rating in a research report on Wednesday, October 17th. Credit Suisse Group upped their target price on Johnson & Johnson from $149.00 to $152.00 and gave the company an “outperform” rating in a research report on Wednesday, October 17th. Zacks Investment Research raised Johnson & Johnson from a “hold” rating to a “buy” rating and set a $164.00 target price for the company in a research report on Wednesday, December 12th. Citigroup decreased their price objective on Johnson & Johnson from $148.00 to $139.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, ValuEngine raised Johnson & Johnson from a “hold” rating to a “buy” rating in a research report on Thursday, December 13th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company. Johnson & Johnson currently has an average rating of “Hold” and a consensus price target of $140.89.
Shares of NYSE JNJ traded down $2.31 during trading hours on Wednesday, reaching $126.74. The stock had a trading volume of 1,570,714 shares, compared to its average volume of 14,011,723. The stock has a market cap of $346.23 billion, a PE ratio of 17.36, a price-to-earnings-growth ratio of 2.02 and a beta of 0.72. The company has a quick ratio of 1.40, a current ratio of 1.72 and a debt-to-equity ratio of 0.46. Johnson & Johnson has a fifty-two week low of $118.62 and a fifty-two week high of $148.99.
Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Tuesday, October 16th. The company reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.02. The firm had revenue of $20.35 billion during the quarter, compared to analysts’ expectations of $20.05 billion. Johnson & Johnson had a return on equity of 34.62% and a net margin of 1.89%. The business’s revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.90 EPS. Sell-side analysts anticipate that Johnson & Johnson will post 8.16 earnings per share for the current year.
Johnson & Johnson announced that its board has authorized a share repurchase program on Monday, December 17th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the company to purchase up to 1.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
In other news, CEO Alex Gorsky sold 264,465 shares of the firm’s stock in a transaction that occurred on Friday, November 16th. The stock was sold at an average price of $145.96, for a total value of $38,601,311.40. Following the completion of the sale, the chief executive officer now directly owns 481,254 shares of the company’s stock, valued at approximately $70,243,833.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Peter Fasolo sold 166,695 shares of the firm’s stock in a transaction that occurred on Tuesday, December 4th. The shares were sold at an average price of $146.41, for a total value of $24,405,814.95. Following the completion of the sale, the vice president now directly owns 155,540 shares of the company’s stock, valued at $22,772,611.40. The disclosure for this sale can be found here. Insiders have sold a total of 514,187 shares of company stock valued at $74,951,528 over the last ninety days. 0.22% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. NorthCoast Asset Management LLC lifted its holdings in shares of Johnson & Johnson by 11.9% in the 3rd quarter. NorthCoast Asset Management LLC now owns 4,072 shares of the company’s stock valued at $563,000 after buying an additional 432 shares during the period. B. Riley Wealth Management Inc. acquired a new stake in shares of Johnson & Johnson in the 3rd quarter valued at approximately $3,554,000. Nordea Investment Management AB lifted its holdings in shares of Johnson & Johnson by 7.6% in the 3rd quarter. Nordea Investment Management AB now owns 7,881,436 shares of the company’s stock valued at $1,088,975,000 after buying an additional 555,024 shares during the period. Towercrest Capital Management lifted its holdings in shares of Johnson & Johnson by 2.1% in the 3rd quarter. Towercrest Capital Management now owns 5,314 shares of the company’s stock valued at $734,000 after buying an additional 111 shares during the period. Finally, Paradigm Asset Management Co. LLC lifted its holdings in shares of Johnson & Johnson by 4.6% in the 3rd quarter. Paradigm Asset Management Co. LLC now owns 5,650 shares of the company’s stock valued at $781,000 after buying an additional 250 shares during the period. 66.25% of the stock is owned by institutional investors and hedge funds.
About Johnson & Johnson
Johnson & Johnson is a holding company, which engages in the research and development, manufacture and sale of products in the health care field. It operates through the following segments: Consumer, Pharmaceutical, and Medical Devices. The Consumer segment includes products used in the baby care, oral care, beauty, over-the-counter pharmaceutical, women’s health, and wound care markets.
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