Citigroup Raises Johnson & Johnson (NYSE:JNJ) Price Target to $185.00

Johnson & Johnson (NYSE:JNJ) had its price target boosted by Citigroup from $180.00 to $185.00 in a research report report published on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also recently commented on JNJ. Daiwa America downgraded shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Morgan Stanley increased their price objective on Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a report on Wednesday. Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research report on Wednesday. Wells Fargo & Company upped their price target on Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a report on Wednesday. Finally, The Goldman Sachs Group cut their price objective on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $175.93.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $165.13 on Wednesday. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $168.85. The firm has a 50 day moving average of $162.98 and a two-hundred day moving average of $154.71. 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 stock has a market capitalization of $397.41 billion, a PE ratio of 10.29, a P/E/G ratio of 2.65 and a beta of 0.52.

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

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be given a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 3.00%. The ex-dividend date is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 30.92%.

Insider Buying and Selling at Johnson & Johnson

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 sale, the vice president now owns 18,973 shares in the company, valued at $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 is available through this link. Company insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Johnson & Johnson

Several institutional investors have recently bought and sold shares of the company. Meridian Financial Partners LLC acquired a new position in shares of Johnson & Johnson during the second quarter worth about $1,626,000. Summit Financial Wealth Advisors LLC boosted its holdings in Johnson & Johnson by 26.3% in the 1st quarter. Summit Financial Wealth Advisors LLC now owns 5,392 shares of the company’s stock valued at $853,000 after purchasing an additional 1,122 shares in the last quarter. Franklin Parlapiano Turner & Welch LLC increased its position in Johnson & Johnson by 0.7% during the 1st quarter. Franklin Parlapiano Turner & Welch LLC now owns 47,186 shares of the company’s stock worth $7,464,000 after purchasing an additional 325 shares during the period. Capital Asset Advisory Services LLC raised its stake in shares of Johnson & Johnson by 8.8% during the 1st quarter. Capital Asset Advisory Services LLC now owns 26,539 shares of the company’s stock worth $4,044,000 after buying an additional 2,151 shares in the last quarter. Finally, NTV Asset Management LLC lifted its holdings in shares of Johnson & Johnson by 1.6% in the 1st quarter. NTV Asset Management LLC now owns 36,000 shares of the company’s stock valued at $5,695,000 after buying an additional 565 shares during the period. 69.55% of the stock is owned by institutional investors and hedge funds.

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.