Royal Bank of Canada Increases Johnson & Johnson (NYSE:JNJ) Price Target to $181.00

Johnson & Johnson (NYSE:JNJ) had its target price raised by equities research analysts at Royal Bank of Canada from $178.00 to $181.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective suggests a potential upside of 10.28% from the stock’s previous close.

JNJ has been the subject of several other reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research note on Thursday, October 10th. TD Securities lowered their price target on Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. TD Cowen reduced their price objective on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Daiwa Capital Markets lowered Johnson & Johnson from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $160.00 to $150.00 in a research note on Tuesday, July 23rd. Finally, Sanford C. Bernstein upped their price target on Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. Six research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $175.00.

Johnson & Johnson Stock Up 1.6 %

Shares of NYSE JNJ opened at $164.14 on Wednesday. The stock has a market capitalization of $395.02 billion, a PE ratio of 10.23, a P/E/G ratio of 2.65 and a beta of 0.52. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. The firm has a fifty day moving average of $162.70 and a 200-day moving average of $154.52. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $168.85.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, topping the consensus estimate of $2.21 by $0.21. The company had revenue of $22.47 billion during the quarter, compared to analyst estimates of $22.17 billion. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.66 earnings per share. On average, analysts anticipate that Johnson & Johnson will post 10 EPS for the current year.

Insider Buying and Selling

In other news, VP Robert J. Decker sold 5,635 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of the transaction, the vice president now directly owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Transform Wealth LLC boosted its stake in Johnson & Johnson by 2.3% during the 3rd quarter. Transform Wealth LLC now owns 3,335 shares of the company’s stock valued at $540,000 after purchasing an additional 74 shares during the period. Sumitomo Life Insurance Co. boosted its position in shares of Johnson & Johnson by 2.4% during the third quarter. Sumitomo Life Insurance Co. now owns 22,058 shares of the company’s stock worth $3,575,000 after buying an additional 525 shares during the period. Verum Partners LLC grew its holdings in Johnson & Johnson by 8.3% in the 3rd quarter. Verum Partners LLC now owns 3,916 shares of the company’s stock worth $635,000 after buying an additional 301 shares in the last quarter. Sunpointe LLC raised its stake in Johnson & Johnson by 25.2% during the 3rd quarter. Sunpointe LLC now owns 4,357 shares of the company’s stock valued at $706,000 after acquiring an additional 876 shares in the last quarter. Finally, Jamison Private Wealth Management Inc. boosted its position in Johnson & Johnson by 3.2% during the 3rd quarter. Jamison Private Wealth Management Inc. now owns 46,747 shares of the company’s stock worth $7,576,000 after acquiring an additional 1,437 shares during the period. 69.55% of the stock is currently owned by institutional investors.

Johnson & Johnson Company Profile

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.