Johnson & Johnson (JNJ) Rating Lowered to Hold at Zacks Investment Research

Johnson & Johnson (NYSE:JNJ) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Monday.

According to Zacks, “J&J’s sales growth accelerated in the second half of 2017 backed by higher sales in the Pharmaceutical segment and improving performance in Medical Devices. Though quite a few key products in J&J’s portfolio like Remicade and Concerta are facing generic competition, we believe that new products in all segments, label expansion of drugs like Imbruvica and Darzalex and contribution from recent acquisitions – mainly Actelion – can support top-line growth.  Meanwhile, share buybacks and the restructuring initiative should provide bottom-line support. However, headwinds like generics, pricing pressure and soft global market conditions remain. Sluggish growth in the Consumer segment is also a concern. J&J’s shares have underformed the industry in this year so far. Estimates have risen slightly ahead of Q1 results. J&J has a positive record of earnings surprises in the recent quarters.”

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Other research analysts also recently issued reports about the company. Vetr raised Johnson & Johnson from a “hold” rating to a “buy” rating and set a $150.89 price target on the stock in a research note on Thursday, January 11th. Royal Bank of Canada reaffirmed a “buy” rating on shares of Johnson & Johnson in a research note on Tuesday, January 9th. Jefferies Group set a $165.00 price target on Johnson & Johnson and gave the stock a “buy” rating in a research note on Monday, February 26th. TheStreet downgraded Johnson & Johnson from an “a” rating to a “c+” rating in a research note on Monday, March 26th. Finally, Stifel Nicolaus increased their price objective on Johnson & Johnson from $142.00 to $145.00 and gave the stock a “hold” rating in a research note on Wednesday, January 24th. Five analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the stock. Johnson & Johnson has a consensus rating of “Hold” and a consensus price target of $144.58.

JNJ stock traded up $2.56 during trading on Monday, reaching $130.66. 2,539,568 shares of the stock were exchanged, compared to its average volume of 8,042,679. Johnson & Johnson has a twelve month low of $120.95 and a twelve month high of $148.32. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.12 and a current ratio of 1.41. The company has a market cap of $343,679.78, a P/E ratio of 17.89, a price-to-earnings-growth ratio of 2.04 and a beta of 0.74.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Tuesday, January 23rd. The company reported $1.74 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.02. Johnson & Johnson had a return on equity of 29.00% and a net margin of 1.70%. The business had revenue of $20.20 billion for the quarter, compared to the consensus estimate of $20.08 billion. During the same period in the prior year, the business earned $1.58 EPS. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. equities analysts predict that Johnson & Johnson will post 8.11 earnings per share for the current year.

In other news, VP Paulus Stoffels sold 155,342 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $129.86, for a total value of $20,172,712.12. Following the completion of the transaction, the vice president now directly owns 357,906 shares of the company’s stock, valued at $46,477,673.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.22% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Eagle Ridge Investment Management lifted its position in shares of Johnson & Johnson by 3.5% during the third quarter. Eagle Ridge Investment Management now owns 27,522 shares of the company’s stock worth $3,578,000 after acquiring an additional 928 shares in the last quarter. Progressive Investment Management Corp lifted its position in shares of Johnson & Johnson by 6.8% during the third quarter. Progressive Investment Management Corp now owns 40,317 shares of the company’s stock worth $5,242,000 after acquiring an additional 2,584 shares in the last quarter. Middleton & Co Inc MA lifted its position in shares of Johnson & Johnson by 40.5% during the third quarter. Middleton & Co Inc MA now owns 39,272 shares of the company’s stock worth $5,106,000 after acquiring an additional 11,315 shares in the last quarter. Artemis Investment Management LLP purchased a new stake in shares of Johnson & Johnson during the third quarter worth $11,478,000. Finally, K.J. Harrison & Partners Inc lifted its position in shares of Johnson & Johnson by 33.2% during the third quarter. K.J. Harrison & Partners Inc now owns 62,011 shares of the company’s stock worth $8,062,000 after acquiring an additional 15,451 shares in the last quarter. 67.24% of the stock is owned by institutional investors.

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About Johnson & Johnson

Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the health care field worldwide. Its Consumer segment offers baby care products under the JOHNSON'S brand; oral care products under the LISTERINE brand; beauty products under the AVEENO, CLEAN & CLEAR, DABAO, JOHNSON'S Adult, LE PETITE MARSEILLAIS, NEUTROGENA, RoC, and OGX brands; over-the-counter medicines, including acetaminophen products under the TYLENOL brand; cold, flu, and allergy products under the SUDAFED brand; allergy products under the BENADRYL and ZYRTEC brands; ibuprofen products under the MOTRIN IB brand; and acid reflux products under the PEPCID brand.

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