Johnson & Johnson (NYSE:JNJ) was upgraded by research analysts at Vetr from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The brokerage presently has a $123.13 price objective on the stock. Vetr‘s price objective points to a potential upside of 4.54% from the stock’s current price.
Several other equities research analysts have also commented on the stock. Barclays PLC reiterated an “overweight” rating and set a $125.00 price target (up from $120.00) on shares of Johnson & Johnson in a research note on Sunday, July 10th. Zacks Investment Research upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and set a $139.00 price target on the stock in a research note on Friday, August 5th. BTIG Research reiterated a “neutral” rating on shares of Johnson & Johnson in a research note on Wednesday, September 7th. Jefferies Group lifted their price target on shares of Johnson & Johnson from $109.00 to $113.00 and gave the stock a “hold” rating in a research note on Thursday, July 14th. Finally, Goldman Sachs Group Inc. set a $121.00 price target on shares of Johnson & Johnson and gave the stock a “neutral” rating in a research note on Monday, June 13th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the stock. Johnson & Johnson currently has an average rating of “Hold” and a consensus target price of $120.19.
Johnson & Johnson (NYSE:JNJ) opened at 117.78 on Tuesday. Johnson & Johnson has a 52 week low of $91.76 and a 52 week high of $126.07. The company has a 50-day moving average of $119.81 and a 200-day moving average of $116.47. The stock has a market capitalization of $322.23 billion, a price-to-earnings ratio of 21.95 and a beta of 0.61.
Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, July 19th. The company reported $1.74 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.68 by $0.06. Johnson & Johnson had a net margin of 20.97% and a return on equity of 24.70%. The firm had revenue of $18.50 billion for the quarter, compared to analyst estimates of $17.98 billion. Analysts anticipate that Johnson & Johnson will post $6.69 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Tuesday, August 23rd were issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date was Friday, August 19th. Johnson & Johnson’s dividend payout ratio is currently 60.15%.
In related news, VP Dominic J. Caruso sold 41,146 shares of the business’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $125.01, for a total transaction of $5,143,661.46. Following the sale, the vice president now owns 157,819 shares of the company’s stock, valued at $19,728,953.19. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Ronald A. Kapusta sold 2,935 shares of the business’s stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $125.01, for a total transaction of $366,904.35. Following the sale, the chief accounting officer now directly owns 28,660 shares in the company, valued at approximately $3,582,786.60. The disclosure for this sale can be found here. Corporate insiders own 0.11% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in JNJ. Burns J W & Co. Inc. NY increased its stake in Johnson & Johnson by 0.7% in the first quarter. Burns J W & Co. Inc. NY now owns 60,539 shares of the company’s stock worth $6,550,000 after buying an additional 432 shares in the last quarter. Creative Planning increased its stake in Johnson & Johnson by 1.6% in the first quarter. Creative Planning now owns 279,960 shares of the company’s stock worth $30,292,000 after buying an additional 4,523 shares in the last quarter. Union Bankshares Corp increased its stake in Johnson & Johnson by 1.6% in the first quarter. Union Bankshares Corp now owns 53,318 shares of the company’s stock worth $5,769,000 after buying an additional 859 shares in the last quarter. Abner Herrman & Brock LLC increased its stake in Johnson & Johnson by 153.9% in the first quarter. Abner Herrman & Brock LLC now owns 9,469 shares of the company’s stock worth $1,025,000 after buying an additional 5,740 shares in the last quarter. Finally, Edge Wealth Management LLC increased its stake in Johnson & Johnson by 3.9% in the first quarter. Edge Wealth Management LLC now owns 70,300 shares of the company’s stock worth $7,606,000 after buying an additional 2,618 shares in the last quarter. 65.32% 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. 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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