Wall Street Zen Downgrades Johnson & Johnson (NYSE:JNJ) to Hold

Johnson & Johnson (NYSE:JNJ) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Several other research analysts have also commented on JNJ. Daiwa Capital Markets raised Johnson & Johnson from a “neutral” rating to an “outperform” rating and set a $203.00 price objective for the company in a report on Monday, October 20th. Raymond James Financial increased their price target on shares of Johnson & Johnson from $174.00 to $209.00 and gave the stock an “outperform” rating in a report on Wednesday, October 15th. Cowen restated a “buy” rating on shares of Johnson & Johnson in a research report on Tuesday, October 14th. Bank of America upped their target price on shares of Johnson & Johnson from $204.00 to $220.00 and gave the stock a “neutral” rating in a research report on Monday, December 15th. Finally, Scotiabank started coverage on Johnson & Johnson in a research note on Thursday, November 13th. They issued a “sector outperform” rating and a $230.00 target price on the stock. Four analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and a consensus target price of $213.33.

Johnson & Johnson Price Performance

NYSE:JNJ opened at $218.81 on Friday. Johnson & Johnson has a 52-week low of $141.50 and a 52-week high of $220.11. The stock has a fifty day moving average of $205.82 and a 200 day moving average of $187.17. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.80 and a current ratio of 1.07. The firm has a market capitalization of $527.18 billion, a price-to-earnings ratio of 21.12, a P/E/G ratio of 2.25 and a beta of 0.34.

Hedge Funds Weigh In On Johnson & Johnson

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Abich Financial Wealth Management LLC purchased a new position in shares of Johnson & Johnson in the third quarter worth $26,000. Evolution Wealth Management Inc. bought a new stake in Johnson & Johnson in the 2nd quarter worth $27,000. Clayton Financial Group LLC purchased a new position in shares of Johnson & Johnson in the third quarter valued at about $28,000. Semmax Financial Advisors Inc. boosted its holdings in shares of Johnson & Johnson by 55.0% during the second quarter. Semmax Financial Advisors Inc. now owns 203 shares of the company’s stock worth $31,000 after purchasing an additional 72 shares during the period. Finally, GFG Capital LLC bought a new stake in shares of Johnson & Johnson in the second quarter worth about $35,000. 69.55% of the stock is currently owned by institutional investors.

About Johnson & Johnson

Johnson & Johnson is a multinational healthcare company headquartered in New Brunswick, New Jersey, that develops, manufactures and markets a broad range of products across pharmaceuticals, medical devices and previously consumer health. Founded in 1886 by the Johnson family, the company has grown into a global healthcare organization with operations and sales in many countries around the world.

The company’s pharmaceuticals business, organized largely under its Janssen research and development organization, focuses on prescription medicines across therapeutic areas such as immunology, infectious disease, oncology and neuroscience.